Markets were mixed, the USD strength the major driver of the session, gaining ~0.5% or more across the currencies in the region (USD/KRW 1,126; USD/TWD 31,78, NZD/USD 0.7217 and AUD/USD 0.7585). USD/JPY gapped open at the start of Asia to 100.69 from New York close on Friday of 100.25 after BOJ Gov Kuroda said there is room to take rates further negative; sees sufficient chance of more easing in September. Later in the session USD/JPY rose to 100.82. Dollar strength came on the back of Fed member comments over the last few days, Fed's Dudley and Williams on Thursday both said that they wouldn't completely rule out a hike in September and then Sunday, Fed Vice Chairman Fischer said the US economy is close to Fed targets and a 2016 hike is still under consideration. The PBoC adjusted down its yuan fix rate by 441 pips to 6.6652, the largest fall since June 27th. Talk in the Chinese press calling for stimulus measures has slowed down some, compared to previous weeks, however today, China PBoC official Sheng Songcheng said that lower taxes can be more effective than rate cuts for economic stimulus.
Nikkei +0.33% Hang Seng -0.29% CSI -0.36% Shanghai -0.30%
Eur$ 1.1274 CNH 6.6740 CNY 6.6653 JPY 100.89 GBP 1.3040 CHF 0.9645 RUB$ 64.2010 WTI$ 48.76 (-0.71%)
S&P -0.19% EuroStoxx -0.24% Dax -0.19% SMI -0.14%
Macro :
- Uber Said to Tell Backers It Won't Pay Above $2 Billion for Lyft
- Goldman Says Don’t Bet on Dollar Selloff as Dovish Fed Priced In
- BOJ Gov Kuroda: there is room to take rates further negative; sees sufficient chance of more easing in Sept
- Dow Jones Bearish Bias Amplified as FX Risk Ratio Breaks Uptrend
- Fed’s Fischer Says U.S. Growth to Pick Up as Investment Recovers
- Switch to Hong Kong Stocks From S&P 500, Jefferies Says
Keep an eye on :
- AIR FP : Airbus Offers Overtime to Boost A350 Output: Telegraph
- ATLN VX : Actelion Completes First Line Share Buyback Program
- BABA US : Alibaba Seeks to Expand Alipay With U.K. Retailers: Telegraph
- CABK SM : CaixaBank takeover of Banco BPI is key to successful Novo Banco bid - Expresso
- CSGN VX : Credit Suisse Will Consider Swiss Deals After Unit IPO: Blick
- ELISA FH : Elisa not planning to make expensive overseas buys; M&A focus on digital services - Talouselama
- ENI IM : Eni Chief Descalzi Says Contract Talks With Iran Remain Ongoing
- GET FP : Eurotunnel CEO Says Brexit Won’t Affect Activity: Echos
- FB US : Zuckerberg Sells ~$95m in Facebook Shares for Philanthropy, Facebook CFO David Wehner Sells ~13% of Reported Holdings
- LYFT IPO : Lyft Said to Fail to Find a Buyer, Despite Talks: NY Times
- MDVN US : Pfizer Said to Near $14 Billion Deal to Buy Medivation: FT
- MGGT LN : Meggitt Chairman Said to Have Met With Elliott Twice: Telegraph
- RIO LN : Rio Tinto Said to Begin Sale Process for Aluminum Assets: AFR
- SAN FP : Sanofi Updates NDA on Diabetes Product; Pdufa Date Now in Nov.
- SAN FP : Pfizer Said to Near $14 Billion Deal to Buy Medivation: FT
- SCVB SS : Scania Says It Will Take 2-3 Years Until Brazil Improvement: DI
- SNH GY : Steinhoff thirsty for more deals in bid to double valuation in five years
- SYNN VX : ChemChina, Syngenta Get CFIUS Clearance for Deal
- UPM1V FH : UPM could be split; parts listed separately - Kauppalehti
- VIV FP : Vivendi Declines to Comment on Mediaset Lawsuit Filed in Milan - see press release http://bit.ly/2b8CRda
- VOD LN : Vodafone's fixed lines in the Netherlands attract interest from T-Mobile and Fiber - report
- VOW3 GY : UBS Says Supplier Dispute May Cost VW Up to EU100m a Week: Welt
- VOW3 GY : VW to Reduce Wolfsburg Golf Production on Lower Demand: Bild
- VOW3 GY : ‘Worst Will Be Over’ for VW in 1-2 Years, Osterloh Tells Bild
- WPP LN : WPP’s Sorrell Warns of Prolonged, Costly Brexit: Sunday Express