Asia Summary and Highlights 22 Aug
Nvidia Orders Halt to H20 Production After China Directive Against Purchases
Japan National headline CPI 3.1% y/y, so as core but core-core 3.4%
Asia Session
The July Japan national CPI is showing a headline moderation of 3.1% from 3.3% y/y with ex fresh food CPI also moderated to 3.1%. However, ex fresh food & energy remains stubborn at 3.4%, stating solid underlying inflation. It continues to support the BoJ to hike. USD/JPY is trading 0.22% higher at 148.69.
It is reported that Nvidia orders halt to H20 production after China directive against purchases. U.S. equities will not like that and see U.S. three major equity indexes all in the red. Regional equities are performing individually with Hong Kong and China equities outperforming Japanese. AUD/USD is trading 0.02% higher at 0.6422, NZD/USD is trading 0.18% lower at 0.5808 while USD/CAD rose 0.03%. Else, EUR/USD is down 0.18% and GBP/USD is down 0.13%.