🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Asia Wrap: Risk Is On But The Market Is Caught Long Duration

Published 10/11/2019, 05:18 AM
Updated 07/09/2023, 06:31 AM
GBP/USD
-
AUD/USD
-
USD/KRW
-
USD/CNY
-
USD/CNH
-

Friday's session in Asia saw shares climb from Tokyo to Sydney after President Donald Trump said discussions with China are going "really well" and will continue Friday. Stocks in Hong Kong got an extra lift as protesters discussed scaling back violence ahead of planned protests this weekend. The pound holds firm buttressed by a definitive pathway to a Brexit deal.

The possible Yuan accord has triggered persistent USD/CNH and USD/KRW selling by some big names perhaps driven by hedge funds and asset manager flow. The Aussie dollar traded well amid increasing optimism around US-China trade talks.

Positive sentiment from Asia should carry over into European session as optimism over Brexit and US-China trade talks could continue to support risk assets further.

My biggest concern, however, is the market is still very long duration, and a more intense pain trade is yet to play out in bond markets.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.