The Hang Seng led Asian equities lower due to the extradition protest, with reports now flowing in that the government has postponed their vote. Gold is back above $1300 after yesterday’s doji. WTI back below $53 as the daily chart tries to carve out a top.

It’s a narrow-ranged day for FX overall, although there’s a slight bid for safe havens to see CHF and JPY are the strongest majors, whilst NZD and AUD are the weakest. AUD/USD is testing yesterday’s lows on weaker consumer sentiment, although currently testing its daily retracement line.

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Japan’s machinery tool orders rose 5.2% in May to beat expectations of -5.3% and drag the YoY rate up to 2.5%. Yet sceptics point out it is masking a drop in the investment outloook, and doubt these expansive numbers can be maintained.

No headline surprises in China’s CPI or PPI data, with inflation remaining stagnant at 0% in May, 2.7% YoY and producer prices rising 0.6% YoY all as expected.

Australian consumer sentiment dipped by 0.6% in June after a run of disapointing data overshadowed this month’s RBA cut. This is in stark contracts to business sentiment which jumped to its highest level since September.

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DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

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