ASIA WRAP: Asia Quiet Following Super Thursday

*Markets settled following Central Bank Thursday
*ASX keeps momentum above 6,700
*AUD pulls back into 0.68 after yesterday's employment sell-off


  • AUDUSD pared a portion of yesterday's move on weak employment, +0.3%. 
  • NZDUSD was largely unchanged. The currency did not react to a beat on credit card data which saw spending rise 2.4% m/m and 6% y/y. 
  • Other G10 majors moved broadly with USD weakness. 
  • GBPUSD continued to trade higher +0.3% following overnight's spike. EURUSD was also up, +0.16%. 
  • USDJPY, USDCAD were unfazed and stayed tight. 
  • USD EMs were broadly down across the board. USDZAR -0.5% and USDKRW -0.45% the biggest winners. 


  • ASX made decent gains over the day, +0.2%, as markets continued to bake in increased chances of an RBA rate cut in October. 
  • Other major indices were also broadly bid. CSI300 +0.13%, S&P500 Futures +0.16%, Nikkei Futures +0.2%. 
  • Hang Seng Futures lagged behind again for the second day, -0.01%. 
  • Galaxy Resources (GXY.AX) was up +0.9% while Inghams Group ING.AX (-2.5%) and Bellamys BAL.AX (-0.16%) fell. These three stocks are some of the most shorted on the ASX.

Fixed Income:

  • AUS 10y yields and US 10y yields were slightly lower but mostly flattish on the day, with major moves this week having already taken place on Thursday. 


  • Commodities price action drew mixed results.
  • Gold Futures +0.38% and Silver Futures +0.5% edged stronger on USD weakness.
  • Iron ore Futures weakened -0.4%. 
  • Brent crude futures added to yesterday's gains of +0.4%.