Asia Summary and Highlights 6 January

Asia Session

The Japan December final services PMI continue to be expanding at 50.9. While it remain a positive sign for wage to grow steadily, the minimal market expectation of an imminent BoJ hike has kept any JPY gains in check. USD/JPY is trading 0.3% higher at 157.73 as U.S. Treasury and JGB yields opened higher.

The early gains in AUD/USD dissipated as regional sentiment sours through the session. Both the Japanese and Chinese equity market are in the red while HK barely clinging onto gains. U.S. equity indexes are indecisive. AUD/USD is still up 0.08% at 0.6222 after touching session high at 0.6249, NZD/USD is also 0.15% higher at 0.5612 while USD/CAD slipped 0.27% on the weekend headline PM Trudeau will be resigning this week. Else, EUR/USD is up 0.05% and GBP/USD up 0.13%.