Mostly messy day for sentiment so far

August 30, 2024
-Chinese Yuan, FCHFX

August 30, 2024 at 04:50AM
Sentiment is a bit mixed across markets this morning.

FX: In FX we have the JPY (safe haven) leading the pack after a better-than-expected Tokyo CPI number, with the AUD and NZD (high betas) second and third strongest. The EUR is leading the pack on the downside, most likely still due to the big deceleration we saw in German CPI yesterday.

Equities: Chinese equity benchmarks are living their best lives with the CN50 (+2.2%) and Hang Seng (+1.7%) up by a huge margin this morning. Not really seeing much in terms of catalysts for the moves though.

Commodities: Mixed for the most part with oil and copper trading in the green, while silver, gold and natgas is in the red.

Bonds: Very marginal flows with treasury yields still close to their highs for the week. Will be interesting to see how they react out of the US PCE data later on.

This article was written by Arno V Venter at www.forexlive.com.

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