Asia Summary and Highlights 16 September

Asia Session

Over the weekend, there is another suspected assassination attempt on Trump as he was playing golf in his golf course. Trump was unharmed and the FBI are currently investigating the incident.

USD is starting the week softer as the overall sentiment does not seem to be affected so far. AUD/USD is trading higher at 0.6727, MZD/ISD also trading higher at 0.6174 while USD/CAD slipped to 1.357.

The market seems to be refocused towards the likelihood of a 50bps cut on Monday Asia session and led to a broad based USD weakness.

With some regional markets observing holiday, the moves seems to have been exaggerated and see USD/JPY reached a low at 139.94, currently trading at 140.25. Else, EUR/USD is higher at 1.1098 and GBP/USD also higher at 1.3154.

North American session

The USD started the session under some pressure, EUR/USD touching 1.11 and USD/JPY slipping to 140.30, but a stronger Michigan CSI of 69.0 from 67.9 with the 5-10 year inflation view at 3.1% from 3.0% helped the USD to stabilize. USD/JPY recovered to 140.90 while EUR/USD corrected back to 1.1080. The USD was mostly little changed, but USD/CAD did advance as high as 1.36 from 1.3575.