We share a few hours from the start of the Asian Trade Session, apparently seemingly going to start the session calmly. In the session calendar we do not have data, foundations, or events that weigh above the trade, and given the weekends in the US and the UK, liquidity will remain low.
We are again expecting the trade war to put pressure on the markets, particularly the Chinese, and we will have a mixed Asian session today. Market participants in Japan remain hopeful that there will be a trade deal with the United States, and at the meeting between Abe and Trump the two guessed that there could be positive developments in August.
In India, Modi again won the election, with Indian markets remaining positively opposed to Modi's upcoming policy, which won its second term as India's prime minister.
We expect the Australian markets to remain in positive territory today, given the retention of the government since the last election and the prospects for a lower interest rate.
At the FX markets, we expect low liquidity, cheap yen and minimal movements during the Asian session. Overall, expectations are for a relaxed session during the Asian Hours.
Photo: Flickr
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