*BoK slashes base rate by 25bps to 1.25%
*NZ quarterly CPI beats
*ASX Futures soar to 6,736
FX:
- FX markets caught a broad USD bid through Asia after news broke that the US House of Reps approved a Hong Kong Human Rights and Democracy Act. It still needs to go through the Senate though it remains to be seen how much it might impact US/China trade negotiations. China has said it will retaliate if enacted.
- AUDUSD -0.25%.
- NZDUSD -0.35% tested 0.632 on decent CPI prints before broader developments took over.
- GBPUSD -0.22%.
- USDJPY -0.16%.
- USDCAD +0.1%.
- USDKRW +0.25% didn't react to the BoK rate cut given it was priced in.
- USDCNH +0.27%.
Equities:
- Asian equities have soared despite weakness in US and European benchmarks.
- ASX cash +1.27% was led higher by gains across resource stocks that benefitted from stronger Gold, Brent and Nat Gas prices. Afterpay (APT.AX) however slumped -7.2% after UBS said the share price would halve by the end of the year - mirroring our bearish views.
- ASX Dec Futures +1.3% finish at 6,736. A break above 6,778 would be a bullish signal.
- Nikkei Futures +1.3%.
- CSI 300 -0.2%.
- HSI Futures +0.4%.
Fixed Income:
- Yields were largely unbothered though marginally ticked lower.
- US 10y yields -2bps.
- AUS 10y yields -2bps.
Commodities:
- Brent Crude Futures +0.15% edged higher.
- Gold Spot +0.15% found a bid.
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