Asia Summary and Highlights 20 Jun
The broader risk sentiment is more positive
Trump may give Iran’s supreme leader one last chance to give up nuclear
Asia Session
On Friday, we still have little clarity on U.S. involvement in the Iran-Israel geopolitics. The latest headline seems to suggest Trump is likely giving two weeks for potential negotiation to take place before striking. U.S. Treasury Yields are performing individually and see USD/JPY trading unchanged at 145.44. National CPI for Japan bangs in estimate of 3.5% y/y in May, ex fresh food jumped to 3.7% while ex fresh good & energy rose to 3.3%. It is mounting pressure on BoJ but we are unlikely to see any move until the U.S.-Japan trade conflict eases.
The broader risk sentiment is more positive on the U.S. saying up to "two weeks" before strike in Iran. U.S. three major equity indexes are all up more than half a percent while regional equities all in the green with HSI leading. AUD/USD is trading 0.15% higher at 0.6490, NZD/USD is up 0.14% to 0.6001 while USD/CAD slips 0.04%. Else, EUR/USD is up 0.24% and GBP/USD is up 0.18%.