Open/Wrap

Quick overview of Asian trade

Very little to report in Asia with the majors trading in tight ranges:

  • Stockmarkets are slightly lower across the region, -0.25% on average:
  • USD/AXY has settled down after some big moves higher on Friday, with exporters taking advantage of higher prices:
  • Australian retail sales were slightly better-than-expected at +0.5% and the trade deficit was also slightly lower than forecast:
  • AUD/USD was the day’s main mover, up 40 pips from low to high:
  • The Chinese National Party Congress takes place this week with a new leadership team about to take control:
  • The US election result remains in the balance according to polls, but not according to UK bookmakers who’ve got President Obama at a very short-priced favourite:
  • Nothing of interest happening in any of the other major currencies after a headline-free weekend.

 

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