Asia Summary and Highlights 26 November

Asia session

As Trump mentioned he will be placing a 25% tariff on Canadian and Mexican goods, another 10% for Chinese ones, major currency are sinking against the USD, except JPY. The JPY is benefiting from the sour sentiment to trade 0.33% lower at 153.66 session low with bond yields performing individually.

Risk sentiment tanked in early Asia after Trump’s tariff headline as just major FX slumped against USD. As session progress, the broad sentiment improves but remain sour. China respond mildly by suggesting no one will win a trade war, instead of immediately respond with tariff retaliation threat. AUD/USD sunk to 0.6434 before retracing to 0.6491 now, down 0.21% for the session, NZD/USD moves similarly to trade 0.05% lower at 0.5842 while USD/CAD rose 0.87% as it bear the blunt of potential tariffs. Else, EUR/USD is down 0.17% and GBP/USD is down 0.15%.