Asia Summary and Highlights 31 Mar
Risk remain undecided on the lack of geopolitical clarity
Trump open to ending war without Hormuz opening
Japan Tokyo Core & Core-Core CPI 1.7% y/y, Headline 1.4%
Asia Session
Risk remain undecided on the lack of geopolitical clarity on Tuesday. Trump suggested that he is open to ending war without the Strait of Hormuz opening, all while bombing across Middle East persists. AUD/USD is trading 0.09% lower at 0.6846 with equities performing individually across region while precious metal higher. NZD/USD is trading 0.19% lower while USD/CAD rises 0.04%.
The March Japan Tokyo Headline CPI stays low at 1.4% with both core & core-core CPI at 1.7% y/y. The biggest factors remain government stimulus and base effect, the energy pressure is neutralized by the extension of government energy stimulus till June. Thus, we may not see the real impact until then, if the geopolitical tension persists. USD/JPY is trading 0.03% lower at 159.62. Else, EUR/USD is up 0.06% and GBP/USD up 0.11%.