Trial now
EURJPY TECHS

Corrective Pullback

US EURODLR OPTIONS

Light Upside Call Spds

USDJPY TECHS

Dips Considered Corrective

EURGBP TECHS

Trend Signals Remain Bearish

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Asia-Pac trade saw e-minis move away from best levels as BBG headlines pointed to a lack of coupon payment on a US$-denominated bond issued by China Evergrande, but the contracts have recovered from worst levels of the day to trade little changed. A reminder that the coupon payment was due yesterday, but there is a 30-day grace period before a default is triggered. There are also reports/chatter of the company's electric vehicle arm failing to pay salaries to some of its employees, in addition to a failure when it came to the timely payment covering factory equipment. There is an air of confusion re: the ultimate end game when it comes to Evergrande, although worries about contagion have receded.

  • The Nikkei 225 managed to benefit from the uptick in USD/JPY evident over the last 24 hours, while playing catch up to 2 days of gains on Wall St after Thursday's Tokyo holiday.
  • Elsewhere, performance was a little more mixed, with the remaining major regional indices lacking any sustained deviation from unchanged levels.