( Update 1)A tenuous and unstable state of affairs

Jul 11 23:07 2018 Print This Article

Midday update

So what was with all that clamouring about trade war when I walked in this morning? The equity world looks as content as a cucumber, and indeed trade frictions don’t seem to have unnerved Asian investors as regionals equity bourses are trading in the green. However, since bottom picking is not my forte, I will let the chips fall as the may knowing full well we are little more than a headline away from for another risk-off episode.

USDJPY is turning into one of those fear of missing out type trades as traders continue jumping from what not to what’s hot. Seeing good bids out of Tokyo retail all morning,  and not too surprisingly we’re testing the primary resistance level between 112.25-35 on the possible shifting Japanese investor preference, one can only imagine where the spot will trade if an unlikely wave of risk on kicks in.

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