Asia FX Handover: Sentiment Remains Fragile

  • The renewed threat of China tariffs were brushed aside to see equity markets broadly higher, with Chinese benchmark indices leading the way. Although we’d stop short of calling it a risk-on session as sentiment remains fragile.
  • JPY and EUR are marginal leaders among FX majors, whilst NZD and JPY are the weakest. GBP/NZD and NZD/CAD are today’s biggest movers.  
  • Australian business confidence jumped to its highest level since September, following the federal elections and RBA cut. However, conditions slumped to its lowest level since September 2014. Hitting 1 versus 3 expected, it’s just two units away from flipping to pessimistic.  
  • BOE’s Saunders stated earlier in the session that BOE will ‘probably’ need to return to a neutral policy stance sooner than markets expect, and they don’t necessarily have to hold rates until all Brexit certainties are resolved.


Recent Analysis:
Daily FX Technical Trend Bias/Key Levels (Tues 11 Jun)
NZD/CAD Could Be Gearing Up For A 300 Pip-Slide
US FX Handover: Tariff Man’s New Chinese Ultimatum
USD/JPY bears smelling blood


Related tags: Forex

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.

Economic Calendar