Free Trial

Risk on was the theme of the Asia-Pacific.....>

FOREX
FOREX: Risk on was the theme of the Asia-Pacific session after markets
discounted Monday's late story focused on U.S.-China trade worries. Subsequent
reports from Fox were run re: White House unaware of any new developments
pertaining to the original BBG story, while some suggested that the BBG story
contained no fresh information.
- Risk on flows garnered more traction during Asia-Pac dealing, as BBG covered
U.S. Pres Trump predicting a "great deal" with China on trade, although he has
stated this several times previously. 
- AUD/JPY was the major beneficiary as commodity linked/risk proxy-FX
outperformed in the major space, although the rate met resistance ahead of the
Y79.99/80.03 (21-DMA/Oct24 high) area. AUD/USD failed to challenge $0.7100.
- USD/JPY registered a high of Y112.74, with a string of recent daily highs
layered from Y112.74 up to Y112.89 providing immediate resistance.
- Focus Tuesday falls on German regional/national CPIs, and several ECB
speakers.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.