Asia Summary and Highlights 2 Dec
Quiet Tuesday
Asia Session
It is a rather quiet Tuesday as we do not have much economic release. USD is trading individually against majors but not by much. U.S. Treasury yields are performing individually with JGB yields fell across the curve . JGB yields are hovering at recent high with 2yr got a foot hold above 1%. USD/JPY is trading 0.14% higher at 155.61.
The Australian current account deficit reach its largest since 2016 at -16.6b. While it is a poor reading, market participants are unfazed as their focus remain on Wednesday's GDP. Major equity indexes are performing individually with a red tilt. AUD/USD is trading 0.13% higher at 0.6551, NZD/USD is trading 0.02% lower while USD/CAD is unchanged. Else, EUR/USD is also unchanged and GBP/USD is up 0.02%.
North American session
Despite a weaker than expected ISM November manufacturing index of 48.2 from 48.7, the USD largely erased losses which extended early in North America to end little changed. UST yields were higher and equities lower. USD/JPY recovered to 155.50 after falling to a low of 154.67, while EUR/USD slipped back to near 1.16 after reaching 1.1650. EUR/GBP was fairly stable but EUR/CHF firmer at .9340. USD/CAD advanced to 1.40 from a 1.3955 low, while AUD/USD was unable to sustain a move above .6550.