Asia Summary and Highlights 7 Apr
The deadline Trump said is approaching, again
Asia Session
The deadline Trump said is approaching, again and public opinion seems to be tilting towards an unlikelihood of him further postponing. WTI jumped higher to 115 USD/b as there does not seem to be any de-escalation, instead more missiles are flying among Iran, Israel and the Gulf countries. Even Saudi Arabia’s Jubail industrial hub is being hit. Major risk asset are lower but not crashing yet as uncertainty looms. Precious metal are also looking south and see AUD/USD trading 0.01% higher at 0.6918. NZD/USD is trading 0.14% lower while USD/CAD rises 0.04%.
The Japanese February Household Spending came in mixed with y/y at -1.7% but m/m +1.5%. While the m/m data is still a miss from estimate, it indicates improvement in private consumption as real wage turns positive. USD/JPY is trading 0.06% higher at 159.76. Both the EUR/USD and GBP/USD is down 0.02%.