ASIA WRAP: China Gives New Waivers For Soybean Purchases

*Kuroda's speech much of the same though still dovish
*China waivers for some soybean tariffs draws negligible reaction
*G10 FX stayed tight; Equities were broadly positive
 

FX:

• Ranges in G10 FX were extremely quiet with not a lot of headlines affronting markets.
• The session highlight was probably a Bloomberg report that titled "China gives new waivers to buy American soybeans". This drew a negligible reaction as it's nothing new, however, it does carry some more positive undertones emerging in the US-China trade complex. 
• AUDUSD was flat, +0.01%, ahead of tonight's Lowe speech. 
• NZDUSD outperformed, +0.10%, with RBNZ's September meeting headlining tomorrow's calendar. 
• USDJPY traded sideways for most of the session but edged lower on the back of Kuroda's dovish tone. Much of what Kuroda said was nothing new, however, it still remains firmly dovish. Japan mfg PMI print also came in 48.9 but fell on deaf ears. 
• European currencies in EURUSD and GBPUSD did little in Asia following overnight volatility driven by weak PMIs. 
• USDCAD was also sideways despite lower crude. 

Equities:

• Equities were broadly up fed by positive soybean waiver headlines. 
• ASX 200 traded flat, finishing -0.01% at 6,748. December Futures were up +0.07%.
• CSI 300 was better +0.3% while HSI Futures gained +0.6%. 
• S&P 500 Futures remain above 3,000 having climbed +0.2% in Asia..

Fixed Income:

• AUS 10y yields are slightly lower -3bps ahead of Lowe's speech tonight at 8.05pm AEST. 
• US 10y yields pared a bit of last night's sell-off, clawing back +4bps at Asia close. 

Commodities:

• Commodities were a touch lower across the board. 
• Brent Crude Futures slid -0.65% with positive supply dynamics coming out of Saudi oil. 
• Soybean Futures finished +0.4% off China soybean waiver news. 
• Gold and Silver were both lower -0.2% and -0.7% respectively on a slightly stronger dollar.