ASIA-PAC MID-SESSION UPDATE: Asia trades mixed amid holiday conditions, FX is also quiet with USD weakened from yesterday's Durable Goods and FOMC Minutes release

A mixed tone is observed in Asia with the region indecisive amid holiday-quietened trade as Japan observes a national holiday and with the US heading into Thanksgiving. ASX 200 (-0.1%) is choppy as weakness in the top-weighted financial sector nullifies resilience across commodity-related stocks, while this also follows the subdued close on Wall St. Chinese markets are also varied as Hang Seng (+0.3%) extends above the 30,000 level, and Shanghai Comp. (-0.2%) is weighed by consumer stocks despite another firm PBoC liquidity operation totalling CNY 270bln.

FX markets are quiet so far during Asia trade amid holiday conditions and a lack of overnight releases. Nonetheless, USD remained weaker across the board from the miss on US Durable Goods and release of FOMC minutes which stated that many viewed a near-term hike was warranted, but that concerns regarding inflation were also widely shared. This earlier helped EUR/USDĀ and GBP/USD reclaim the 1.1800 and 1.3300 handles respectively, while the PBoC also took its swipe at the greenback and adjusted its reference rate to the strongest in over a month. Elsewhere, SGD failed to benefit from firmer than expected upward Q3 GDP revisions amid fatigue, while pressure persisted into USD/JPY and JPY-crosses alongside the absence of Japanese participants.

23 Nov 2017 - 02:37- Fixed IncomeImportant- Source: RANsquawk

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include: