Asian stock markets: Nikkei down 0.55 %, Shanghai Composite gained 0.45 %, Hang Seng rose 0.40 %, ASX 200 rallied 0.30 %
Commodities: Gold at $1271 (-0.10 %), Silver at $17.27 (-0.30 %), WTI Oil at $50.15 (+0.60 %), Brent Oil at $50.90 (+0.50 %)
Rates: US 10 year yield at 1.69, UK 10 year yield at 1.30, German 10 year yield at 0.06
News & Data:
Australia Westpac Leading Index (MoM) May: 0.21% (rev prev. 0.14% from 0.24%)
Australia Skilled Vacancies (MoM) May: 1.0% (prev. 0.60%)
New Zealand Credit Card Spending (MoM) May: 0.0% (prev 2.5%)
PBOC sets USD/CNY fix at 6.5935 (prev fix 6.5656, prev close 6.5900)
BoJ's Kuroda: Deflationary mind-set deeply rooted in Japan, FX and stock markets sometimes don't move too much
BoJ's Kuroda: Wage will rise if prices rise; Results of fiscal and monetary policy don't always turn out as expected
Asia stocks inch up, nerves fray ahead of Brexit vote – RTRS
Oil prices above $50, buoyed by U.S. stock draw – RTRS
Fed warns U.S. equity valuations 'well above' median – RTRS
The US Dollar fell overnight as risk appetite improved and GBP volatility remains high one day ahead of the Brexit vote. GBP/USD was rejected off 1.4780 resistance yesterday and fell to a low of 1.4620 in the late NY session. In Asia, the pair recovered, rising to a high of 1.4690.
EUR/USD saw a sharp decline to 1.1245 yesterday, but bounced in Asia and rose to a high of 1.1270. The Euro will be very sensitive to the Brexit vote outcome as well, so expect high volatility in all EUR pairs.
Meanwhile, USD/JPY benefited from the rise in equity markets yesterday, but broad USD selling put it under slight pressure overnight. The pair fell from 104.90 in the early Asian session to a low of 104.40. Support is now seen at 104.20, followed by 103.55.
The commodity currencies are all bid, with the Australian and New Zealand Dollar up 0.30 % against the USD. NZD/USD posted a fresh one year high yesterday, but ran out of momentum at 0.7170.