Entering into US session, Australian Dollar remains the strongest one for today as the local political turmoil has quickly settled. Markets generally welcomed Scott Morrison as new Prime Minister, and he ruled out calling a general election in near term. Fitch rating agency also said the leadership change will not have any impact of Australia’s rating. New Zealand Dollar follows as the second strongest.
On the other hand, Yen is trading as the weakest one for today while Dollar’s rebound lost steam. Fed Chair Jerome Powell’s speech at 14:00 GMT at Jackson Hole symposium will catch most attention today. But we’re not expecting anything drastic from there.
In other markets, European stocks are generally firmer today. FTSE is up 0.17% at the time of writing, DAX up 0.21% and CAC up 0.46%. Earlier today, Nikkei closed up 0.85% at 22601.77 while China SSE also rose 0.18%. But Hong Kong HSI and Singapore Strait Times ended in red, down -0.43% and -1.14% respectively. As Dollar softens, Gold is back above 1190.
