Asia Summary and Highlights 17 August

Asia Session

Japan Q2 preliminary GDP missed at 0.3% q/q. As we expected, the lag in private consumption is dragging Japan's Q2 growth. Yet, GDP deflator is a beat at 2.6% y/y, continue to points toward strong price pressure. USD/JPY is trading 0.14% lower at 159.08. JGBB yields are also higher across the curve.

USD is off to a weak start despite geopolitical tension persists. Regional equities are outperforming U.S. equities so far, while precious metals are gaining. AUD/USD is trading 0.27% higher at 0.7104. NZD/USD is leading with 0.35% gains while USD/CAD slips 0.08%. Oil are lower. Else, EUR/USD and GBP/USD are up 0.14%.