Friday, April 6, 2018

FW: [Maybank] Cautious Optimism

 

 

Cautious Optimism

Global Markets Daily
by Saktiandi Supaat

FX Research

S&P futures came under pressure this morning after Trump told US trade officials to consider imposing tariffs on an additional $100bn in Chinese imports. Corresponding knee jerk response was felt in FX markets, with USDJPY falling from above 107.40 to an intra-day low of 107 while risk proxy FX such as AUD fell nearly 0.5%. As of writing, some of these declines have partially reversed. Markets appear to shrug off trade war fears (HSI was up 1.5% this morning) – signs of cautious optimism?

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