Asia Summary and Highlights 28 November

Asia Session

The USD/JPY took a breather from its recent correction as it almost jumped a figure from session low to high in early Asia. There has been little headlines but the fall in JGB yields seem to be the culprit. USD/JPY jumped to 151.74 before retracing to 151.61 currently, still up 0.38% for the session.

Regional sentiment on Thursday are on the soft end while Nikkei and U.S. three major equities are in the green. The Australian government has passed a law to overhaul the RBA but the reform does not seem to affect the way monetary policy to be decided. AUD/USD is down 0.1% to 0.6491, NZD/USD is down 0.02% to 0.5894 while USD/CAD slipped 0.03%. Else, EUR/USD and GBP/USD are down 0.09%

North American session

The USD extended its losses in North America, slipping after the first round of data, though there was little in it that was surprising, apart from a lower advance goods trade deficit, with initial claims, durable goods orders and the GDP revisions in line with expectations. Later core PCE prices rise an as expected 0.3% in October, with personal income stronger than expected with a 0.6% rise but spending in line at 0.4%.

UST yields and equities were both lower. EUR/USD and GBP/USD gains stalled before 1.06 and 1.27 respectively while USD/JPY found support below 150.50. AUD/USD gains stalled at .65 while USD/CAD losses found a base above 1.40.