It was a very subdued session across major FX with traders mainly content to await the inflation data due during the US timezone later. There are pre
It
was a very subdued session across major FX with traders mainly
content to await the inflation data due during the US timezone later.
There are previews of this in the bullet points above.
The
news flow was early, with US President Biden meeting with
Congressional leaders for debt ceiling negotiations. Statements at
the conclusion of the meeting from participants, along with other
reports, indicated that little progress towards resolution was made.
Work will continue and another meeting of the leaders was set for
Friday.
Data
flow was negligible, but I did pop up a post on S&P Global/JP
Morgan’s global PMI. This hit a 16-month high despite “the three
largest national economies covered (the US, China and Japan) all
performed below the global average”.
Asian
equity markets:
-
Japan’s
Nikkei 225 -0.4% -
China’s
Shanghai Composite -1% -
Hong
Kong’s Hang Seng -0.6% -
South
Korea’s KOSPI -0.1% -
Australia’s
S&P/ASX 200 -0.1%
The private survey of oil inventory released during the US afternoon showed a build. A draw was expected.
Oil hasn’t done a real lot in response, off a touch only.
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