ASIA WRAP: Selective Price Action As Lowe's Speech Nears


*RBA Gov. Lowe set for 5.45pm AEDT speech
*US Consumer Confidence due later tonight at 1am
*Risk-on follow through has been selective
 



FX:

  • AUDUSD +0.23% edged higher but hasn't yet broken out from Oct. highs.
  • NZDUSD +0.25% finished up but whipsawed to NZ Treasury concerns that S&P could remove a positive ratings outlook. 
  • EURUSD -0.06% and GBPUSD -0.07% were quiet.
  • USDJPY +0.03% ends a touch below 109 resistance.
  • USDCAD +0.01%.
  • USD was marginally weaker against EMs as long positioning builds across EM space.

Equities:

  • Asian equities faded early gains as focus turns to the string of heavy economic events in the next three days.
  • ASX Cash +0.07% was led by tech stocks partially offset by energy losses. Speedcast (SDA.AX) +11.17% was the best ASX 200 performer while Bega Cheese (BGA.AX) -12.8% was the worst.
  • S&P 500 Futures +0.04%. 
  • NASDAQ Futures +0.016%.
  • Nikkei Futures +0.48%. 
  • CSI 300 Futures -0.24%.
  • Hang Seng Futures -0.56%.

Fixed Income:

  • Yields ticked higher adding to October's gains as markets continue to unwind long positioning. 
  • AUS 10y yields +4bps.
  • NZ 10y yields +4bps.
  • Japan 10y yields -1bps.

Commodities:

  • Brent Crude Futures -0.36% edged lower on demand concerns.
  • Gold Spot -0.06% finished at US$1,491/oz.



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