Asia Summary and Highlights 9 Sep
Japan’s LDP set October 4 for leadership vote
Asia Session
Japan’s LDP has set October 4 for leadership vote, replacing Ishiba. Top candidates are former Internal Affairs Minister Takaichi and Agriculture Minister Koizumi. They seems to be posing a new angle from the LDP as one of them are more appealing to the younger crowd while the other are tilted towards more fiscal spending. USD/JPY is trading 0.18% lower at 147.20 while Nikkei retreats from historic high.
The slate of tier two Australian data arrived to be on the choppy side. Consumer sentiment worsens while business confidence and condition see moderation from previous month. U.S. three major equity indexes are in the green while regional equities are performing individually. AUD/USD is trading 0.16% higher at 0.6602, NZD/USD is trading 0.1% higher at 0.5946 while USD/CAD rises 0.02%. Else, EUR/USD is is up 0.07% and GBP/USD is up 0.18%.
North American session
The USD continued to gradually soften in a North American session with no significant US data. The main news was French PM Bayrou losing a vote of confidence but this was widely expected and had little impact. EUR/USD advanced to 1.1765 from 1.1725. EUR/GBP held up held up near .8680 but EUR/CHF remained weaker near .9330. USD/JPY slipped to 147.35 from 147.80. AUD and CAD saw little change, AUD/USD resisted by .66 while a move in USD/CAD below 1.38 was not sustained.