Asia Summary and Highlights 3 December

Asia Session

USD/JPY closed below 150 on Monday and is retesting it on Tuesday's Asia session. So far, U.S. Treasury Yields are little changed while JGB yields are higher, thus looks like a minor rebound on recent down move rather than a sustained move. USD/JPY is trading 0.41% higher at 150.16 as JGB yields moves away from session high.

The broad risk sentiment is positive on Tuesday's Asia session. Both regional and U.S. equity indexes are in the green with Nikkei leading the gains. The AUD/USD is down 0.13% to 0.6468, NZD/USD is down 0.25% to 0.5873 while USD/CAD rose 0.07%. Else, EUR/USD is down 0.13% and GBP/USD down 0.1%.

North American session

The USD picked up on a stronger than expected ISM manufacturing index of 48.4 for November, up from 46.5 in October, but later moved off its highs, and after Fed’s Waller stated he was leaning towards easing in December, ended up close to where it had stared the session, EUR/USD back above 1.05 after moving below on the data. GBP, AUD and CAD saw similar moves. 

USD/JPY saw less response to the data but slid from near 150 to near 149 in mid-session as UST yields slipped. A recovery above 149.50 was undermined by Waller’s comments but the pair remained above the low.