Dollar leads the charge and Asian equities are mostly higher
The greenback is holding steady so far on the day but the gains posted are very minor with daily ranges still narrow thus far. The aussie is the weakest performer as US-China trade talks continue to be dented and Trump's comments here are certainly not helping. AUD/USD now looks to be running towards a test of the key hourly moving averages:
That will keep buyers on their toes as they will have to defend the near-term bullish bias in the pair in the sessions ahead.
Other than that, Asian equities are faring well on the day highlighting a bit of a risk-on mood after European and US stocks gained overnight. The Nikkei is up by 0.4% currently while the Hang Seng is up by 0.2% at the break. Chinese bourses are flat on the day but regional equities are all posting decent gains:
Looking ahead, here are the market themes that are playing out so far as we begin the new session:
- Dollar a little bid, but nothing notable
- US-Mexico trade deal making headway, is the Canadian dollar at risk?
- US-China trade talks still going nowhere
- Equities trading higher, Wall St to hit record highs again?
- Emerging markets back in focus, contagion from lira? More pressure as Fed hikes?
And not to forget we have other things like Brexit and Italy brewing in the background too.
