Asia Summary and Highlights 13 Jun

Asia Session

Israel has launched multiple wave of air strikes and have killed at least one top level Iranian official, destroying a nuclear enrichment site too. Despite the U.S. officially released a statement of non-involvement, Iran already vowed to retaliate both the U.S. and Israel. There has been reports of Iranian ballistic missiles being launched. Haven currencies are bid, so as oil. With major equity indexes lower, AUD/USD is down 0.81% to 0.6479, NZD/USD is down 0.88% while USD/CAD rose 0.27%.

Haven asset received a wave of bids on heightened geopolitical tension. As session progress, the lack of new headlines has calmed the market a tad, especially no retaliation against U.S., has seen the haven bids ease.  Both the U.S. Treasury and JGB yields opened lower and are trying to recapture losses. USD/JPY is trading unchanged at 143.49 with a session low at 142.78. Else, EUR/USD is down 0.44% and GBP/USD is down 0.56%.

North American session

A weak 0.1% rise in US PPI, both headline and core, and higher than expected initial claims of 248k saw the USD bounce above 1.16 and USD/JPY fall to a low of 143.19 but the move was not sustained and EUR/USD slipped back to 1.1580 while USD/JPY returned to 143.50. GBP/USD saw highs above 1.36 as EUR/GBP corrected from European highs to .8515. With equities edging higher, USD/CAD slipped to test 1.36 while AUD/USD was firmer near .6525.