CFTC Positioning Data:
Asia-Pacific equity markets were mixed on Monday. Investors shrugged off weekend election results in Germany and New Zealand. Stocks in Australia and Japan rose on local drivers, whereas other Asian markets opened in Red weighed by concerns about China’s economy.
In spite of losing more seats than expected, Germany’s Incumbent Chancellor Angela Merkel will continue to lead the government as she is expected to manage to form government in coalition. For New Zealand, the result was more or less as expected, the incumbent National Party achieved the highest proportion of votes but came three seats short of an outright legislative majority.
EURUSD is currently seen trading around 1.19334 as the Euro slid 0.2 percent against the US Dollar. The Euro has spent much of the session today edging back higher to try to fill its 'gap. The dollar index, which tracks the dollar against a basket of currencies rose 0.1 percent and is currently valued at 92.22
USDJPY had an active session early on Monday reaching as high as 112.54 following a disappointing Flash Manufacturing PMI, Price is seen trading at 112.24 as the yen currently stands 0.2 percent down against the US Dollar, kicking the week off on a down note after recording declines over the past two weeks. Japanese Prime Minister Abe is holding a news conference later today at 09: 00GMT – he is expected to announce an early election.
AUDUSD is currently seen Trading at 0.7964 trading up from its earlier lows below 0.7950. Notably, Australia’s S&P/ASX 200 was up earlier today on strength from big banks and mining companies. Meanwhile, The New Zealand Dollar dropped around 1 percent and is currently seen trading at 0.7263 against the US Dollar.
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