ASIA-PAC MID-SESSION UPDATE: Asia trades with a non-committal tone after cautious gains in the US and disappointing Chinese data

Asia equity markets are mixed with a non-committal tone seen after the cautious gains in the US and as the region also digests key data releases. ASX 200 (-0.1%) and Nikkei 225 (Unch.) are subdued with weakness across miners and discouraging Chinese data weighing on Australia, while a softer JPY has barely kept the Japanese index afloat. Elsewhere, Hang Seng (-0.4%) and Shanghai Comp. (+0.2%) are also indecisive as an increased liquidity effort by the PBoC was clouded by a miss on Chinese Industrial Production and Retail Sales data.

Focus in FX markets was centred around AUD/USD, as the pair initially reclaimed the 0.8000 handle on a stellar jobs report where the Employment Change more than doubled estimates and which was fuelled by a surge in Full-Time Employment. However, some of the gains were later pared following the softer than expected Chinese data. Elsewhere, other major pairs were quiet with EUR/USD languishing near yesterday’s lows and GBP/USD unchanged around the 1.3200 level ahead of the BoE policy meeting, while CNH is pressured after the PBoC weakened the reference rate for a 3rd consecutive day.

Finally, 10yr JGBs are flat amid a hesitant risk-tone seen across markets, while demand is also dampened as participants await a 20yr JGB auction later.

14 Sep 2017 - 03:38- ForexImportant- 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: