Asia Summary and Highlights 16 Sep
Japan’s Hayashi said Tokyo pleased with implementation of tariff agreement with the US
U.S. won’t impose China oil tariffs unless Europe acts
Asia Session
Japan’s Chief Cabinet Secretary Hayashi said Tokyo is pleased with the consistent implementation of its tariff agreement with the United States, providing confidence to market participants that the U.S.-Japan trade deal remains a solid foundation. USD/JPY is trading 0.21% lower at 147.03 as JGB outperform U.S. Treasury yields.
The market is relatively quiet as market participants wait for the decision for FOMC in the coming days. The broader equity spaces is performing individually with U.S. major equity indexes are in the green, so as regional equities in HK and Japan while Chinese equities lag. AUD/USD is trading 0.12% lower at 0.6662, NZD/USD is trading 0.17% lower at 0.5960 while USD/CAD slips 0.04%. Else, EUR/USD and GBP/USD are up 0.13%.
North American session
In a quiet session the USD marginally extended its European slippage, with EUR/USD rising to 1.1770 though USD/JPY was little changed near 147.40. USD/CAD broke below 1.38.
US Data saw September’s Empire State manufacturing survey falling to -8.7 from a positive 11.9 while July Canadian manufacturing shipments exceeded expectations with a rise of 2.5%. Neither played a noticeable part in the day’s FX movement.