Asia FX Handover - A Breezy Session As Markets Pause For Breath
Matt Simpson May 22, 2019 5:46 AM
A summary of news and snapshot of moves from today’s Asia session.
- A lack of market-moving data and no major fresh developments on the trade war made for a quiet session overall. That said, reports just surfaced that the US is considering removing availability of vital US technology to 5 unnamed Chinese companies.
- Within their narrow ranges, JPY and GBP are the strongest majors, NZD and AUD are the weakest. Minor ranges across equity indices too, although a similar divergence to yesterday which saw Japanese equities weaken whilst elsewhere we see minor gains.
- A mixed data set from Japan saw exports contract by -2.4% YY, faster than the -1.8% expected. Although business sentiment survey by Reuters saw manufacturing morale pick up for the first time in seven months. Moreover, machinery orders grew by 4.5% in in March and 2.7% YY.
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