Entering in to US session, Australian Dollar remains the strongest one for today. RBA’s decision to keep cash rate unchanged at 1.50% is giving the Aussie some support. But upside is so far limited as it’s clear that RBA is laying the ground work for rate cuts down the road, subject to developments in the job markets.
Yen is following as the second strongest as risk sentiments remain generally cautious. Dollar follows as the third strongest. Chinese Vice Premier Liu He will travel to the US on May 9-10 for another round of trade negotiations. But it’s a general consensus in Trump’s trade team that after China reneges on its commitments, more tariff is the only way to go if no deal could be sealed this week. Meanwhile, Swiss Franc is the weakest one, followed by Sterling.
In other markets, currently:
- DOW future is down -180pts on trade pessimism.
- Gold is down -0.23%.
- WTI crude oil is down -1.06%.
In Europe:
- FTSE is down -1.05%.
- DAX is down -0.70%.
- CAC is down -0.81%.
- German 10-year yield is down -0.0364 at -0.025, turned negative again.
Earlier in Asia:
- Hong Kong HSI rose 0.52%.
- China Shanghai SSE rose 0.69%.
- Singapore Strait Times rose 0.67%.
- Japan remains on holiday.
