Asia Summary and Highlights 10 Sep
Reports of Russian drone incursions into Poland Airspace
Asia Session
There are reports that Russian offensive drones are spotted in Poland airspace. It would be an incursion of NATO ally airspace if such was proven to be intentional and could draw major conflict for the continent. So far market responses are muted despite we see a member of U.S. congress condemning the act. It is later reported that Poland has shot down a few of those drones and deploying personnel to retrieve the remains. USD/JPY is trading 0.01% lower at 147.38.
Global market seems to be unfazed by renewed geopolitical tension as we see major equity indexes all in the green. Perhaps the news that a U.S. court ruling Governor Lisa Cook to stay gave the market certain confidence for now. Regional equities are outperforming U.S. major equity indexes on Wednesday's Asia session. AUD/USD is trading 0.36% higher at 0.6609, NZD/USD is trading 0.33% hihger at 0.5946 while USD/CAD is unchanged. Else, EUR/USD is up 0.04% and GBP/USD is up 0.08%.
North American session
The USD advanced in North America, a steeper than expected 911k downward revision to the March 2025 non-farm payroll benchmark providing only a very brief interruption of the trend. USD/JPY largely reversed earlier losses, rising to 147.40, up over a big figure from its low. EUR/USD fell to near 1.17 from near 1.1750, with EUR/GBP slightly weaker below .8660 but EUR/CHF slightly firmer near .9340. USD/CAD rose to near 1.3850 from below 1.38 while AUD/USD slipped back below .66.