ASIA WRAP: Asia Unchanged Ahead Of ECB meeting

*Tight ranges as ECB Draghi's tenure comes to a close
*Aussie PMIs drew mild bid in AUD
*South Korea Q3 GDP slightly soft but around the mark

FX:

• FX markets chopped around in 20pip ranges but largely lacked conviction to either side.
• AUDUSD -0.12%. 
• NZDUSD -0.23%.
• EURUSD +0.04%. Up ahead lies Mfg and Service PMIs as well as Draghi's last ECB meeting.
• GBPUSD -0.01% waits for further Brexit clarity.
• USDJPY -0.07% failed to breach 108.7. 
• USDCAD +0.06% with markets maintaining strong bearish positioning in the pair.
• USDCNH +0.07% but looks technically bearish.
• USDTRY +0.41% found some support around 5.72 after a sell-off driven by Trump's removal of Turkey sanctions last night.

Equities:

• Asia equities started the day on decent risk sentiment but were led lower after midday.
• ASX 200 cash +0.31% closed at 6,693, a touch off 7,000, led by gains in the energy sector as we predicted earlier this morning. The energy sector was buoyed by stronger crude. We also some earnings updates hit the ASX boards with JB Hi-Fi +6.77% the best performer.
• ASX Dec Futures +0.38% were up as well +25pts.
• Nikkei Futures +0.53%. 
• S&P 500 Futures -0.02%. 
• NASDAQ Futures +0.22% helped by positive results in PayPal, Tesla and Microsoft.
• CSI 300 Futures +0.04%. 
• Hang Seng Futures +0.73%.

Fixed Income:

• Yields were led higher as bonds sold off. 
• US 10y yields are flattish in Asia. The upcoming Fed meeting is currently priced in for a 25bps cut at 91% probability.
• AUS 10y yields edged lower -2bps as equities came off after midday. 

Commodities:

• Brent Crude Futures -0.5% have pulled back a touch from US$61/bbl.
• Gold spot +0.04% remains stable awaiting clarity on broader US/China and Brexit developments.