Thu, Aug 11, 2022 @ 20:19 GMT
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Into European Session: China SSE up 5% on trade, AUD & NZD strongest

Entering into European session, Australian and New Zealand Dollar are the strongest ones for today so far. Market sentiments are generally lifted by the “substance progress” in US-China trade talks. And, Trump announced to delay the March 1 trade truce deadline. He’s also planning a summit with Xi at Mar-a-Lago to seal the deal.

The strongest reactions are seen in Chinese stocks with Shanghai SSE hitting the highest level since June 2018. 3000 handle is now within touching distance.

Canadian Dollar is the weakest one for now but it’s merely paring some of last week’s strong gains. It’s followed by Dollar and then Yen. Sterling is also mildly firmer after UK delays another Brexit meaningful vote from Wednesday to March 12, just 17 days ahead of the formal Brexit date.

The economic calendar is rather light today. Focus will be on BoE Governor Mark Carney’s speech, as well as comments from Fed Vice Chair Richard Clarida.

In Asia:

  • Nikkei closed up 0.48%.
  • Hong Kong HSI is up 0.35%.
  • China SSE is up 4.98%.
  • Singapore Strait Times is down -0.02%.
  • Japan 10-year JGB yield is up 0.006 at -0.034.

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