Asia Summary and Highlights 27 July
The U.S. and Iran Pause Exchanging Missiles
Asia Session
The broader risk mood is upbeat on U.S. nd Iran pause their exhcnage of strikes. Widely suspected in later Friday, U.S. has stopped their almost two week consecutive strikes and Iran replied by no more strikes as long as U.S. stops. Oman seems to be driving towards another negotiation but market participants are already front running the peace trades. U.S. major equity indexes are higher while regional equities are mixed. AUD/USD is supported by precious metal to trade 0.21% higher at 0.6998. NZD/USD is trading 0.18% higher while USD/CAD slips 0.09%.
Major currency pairs opened higher against the USD on peace trades. USD/JPY also opened more than 30 pips lower than Friday''s close and haven't changed much as session progress. The gap wasn't closed as market participants remain hopeful on an interim ceasefire. JGB yields are also lower across the curve with the next leg waiting for BoJ later in the week. Else, EUR/USD is trading 0.32% higher and GBP/USD up 0.23%. None seems to be able to close the gap just yet.