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Loading...Asia markets were mostly up a tad in Monday trade, as markets digested the Caixin PMI data out of China and the Bank of Japan's quarterly Tankan survey.
Japan's Nikkei 225 rose 0.24 percent, but South Korea's Kospi reversed earlier gains to edge down by 0.22 percent. Australia's S&P/ASX 200 declined 0.38 percent.
The dollar index, which measures the greenback against a basket of currencies, edged higher to trade above nine-month lows first hit last week. The dollar traded at 95.792 at 12:12 p.m. HK/SIN. Against the yen, the dollar continued to trade above the 112 handle, with the greenback fetching 112.52 yen.
In energy news, oil prices rose, with Brent crude futures up 0.16 percent at $48.85 a barrel and U.S. crude futures higher by 0.33 percent at $46.19.
Economic calendar for the European and U.S. trading sessions
10:15 Switzerland - Retail sales
10:30 Switzerland - SVME PMI
10:50 France - Manufacturing PMI
10:55 Germany - Manufacturing PMI
11:00 EU - Manufacturing PMI
11:30 UK - Manufacturing PMI
12:00 EU - Unemployment rate
15:00 UK - BoE Gov Carney speaks
16:45 USA - Manufacturing PMI
17:00 USA - ISM Manufacturing PMI
USD - The greenback continues to be the most undervalued currency on the market. USD traded around its monthly lows. The decline is due to investors anticipation for more active monetary policy from the other central banks. In short term we are negative towards the USD.
Indices - Stocks were traded around record levels due to the signals for improving growth in the world's economy. Stocks continue to be the top performing assets for 2017, as emerging-markets shares surged in the first half of the year. History shows, that USD is for a hard road ahead, as it posted it's weakest start since 2006, while EUR remains the strongest currency.
CAD - Due to speculations from BoC, that a rate hike is to be anticipated sooner rather than later (untill the end of this year), investors preffered CAD before the other currencies. Oil's decline didn't effect CAD's run.
JPY - The yen swung in the wake of a crushing defeat of Japanese PM Shinzo Abe's party in Tokyo elections. Japan's Topix rose as a survey showed confidence grew among manufacturers, while stronger Chinese data failed to spark gains among Shanghai shares.
Trader Bozhidar Arabadzhiev
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