Asia Summary and Highlights 29 Jul
Trump shortens Russia-Ukraine peace deadline to 12 days
U.S. Commerce Secretary Howard Lutnick said a 90-day extension to the U.S.–China trade truce was the likely outcome of ongoing negotiations in Stockholm
Asia Session
We are hearing from Trump that he is going to shorten Russia-Ukraine peace deadline to 12 days, citing the lack of progress in peace negotiation. Trump will likely further target Russian oil to press Putin as he suggest sanctions not only on Russia, but also those who purchase Russian oil. USD/JPY is trading 0.21% lower at 148.18 with JGB holding on to dear yield gains.
It is a range bound session for the major FX market. U.S. major equity indexes are in the green while regional equities seeing red, with HSI and Nikkei leading the losses. U.S. Commerce Secretary Howard Lutnick said a 90-day extension to the U.S.–China trade truce was the likely outcome as negotiations continue. AUD/USD is trading 0.03% higher at 0.6523, NZD/USD is trading 0.02% lower at 0.5969 while USD/CAD also slips 0.02%. Else, EUR/USD is down 0.06% and GBP/USD is down 0.04%.