There were no major economic releases during the Asian trading session, so traders focused on catching up to their U.S. counterparts and this week’s catalysts.
- Dollar takes a breather from its losses
- Yuan set for best month since 1994 on another strong PBoC fixing
- Japan’s FSA raps Coincheck’s knuckles
Dollar takes a breather
After taking one hit after another last week, the Greenback took a breather from its losses against its major counterparts today.
There were no catalysts for the move except for Treasury yields trudging higher today. The “rally” soon lost its momentum, however, thanks to concerns that Donald Trump will use his first State of the Nation address to communicate his hard stances on Uncle Sam’s trade deals.
Mixed risk sentiment
Start-of-week risk-taking and a bit of leftover optimism from last Friday’s U.S. trading session encouraged a bit of risk-taking even as global trade-related concerns got peppered into the mix.
- Nikkei is up by 0.13% to 23,661.9;
- Australia’s A SX 200 is up by 0.37% to 6,072.5;
- Hang Seng slipped by 0.05% to 13,148.59, while the
- Shanghai index fell by 0.54% to 3,538.98.
Commodity prices fared a bit better.
- Gold slipped by 0.38% to $1,347.0 on dollar demand but
- Brent crude oil popped up by 0.21% to $66.38 and
- U.S. WTI rose by 0.26% to $70.15.
Major Market Mover(s):
The dollar started the week on a strong note as traders took profits ahead of this week’s monster events.
EUR/USD is down by 0.10% to 1.2416;
GBP/USD is down by 0.16% to 1.4141;
USD/JPY is up by 0.13% to 108.73, and
USD/CHF is up by 0.27% to .9357.
Surprisingly enough, the common currency had saw gains across the board despite a lack of catalysts. Could traders be preparing for this week’s mid-tier data dump and euro zone’s CPI report?
EUR/AUD is up by 0.13% to 1.5339;
EUR/CHF is up by 0.15% to 1.1618;
EUR/NZD is up by 0.20% to 1.6921, and
EUR/GBP is up by 0.04% to .8780.
Watch Out For:
- 7:00 am GMT: Germany’s import prices (0.3% expected, 0.8% previous)