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Here we go, folks: it may still be Sunday in the US, but Asia has already entered week three of the Trump administration.
The dollar was on the backfoot in Asia on Monday as investors continued to digest Friday’s jobs report showing strong gains in US employment but weaker earnings. The dollar index measuring the greenback against a basket of international peers was 0.2 per cent stronger in morning trade.
In foreign exchange markets the Mexican peso was 0.1 per cent stronger at 20.3524 per dollar while Japan’s yen had firmed 0.2 per cent to ¥112.34 per dollar. The Australian dollar was down 0.2 per cent against its US counterpart at A$0.7673.
In equities, Australia’s S&P/ASX 200 index was up 0.1 per cent in early trading, while futures tipped Tokyo’s broad Topix index to open 0.9 per cent higher and Hong Kong’s Hang Seng index was expected to climb 0.5 per cent at the open.
Corporate earnings reports out today include Japan Tobacco (14.00), Suzuki Motor (14.00), Toyota Motor (15.00), Sega Sammy (15.00) and Square Enix.
The economic calendar for Monday encourages constant vigilance (all times Hong Kong):
- Indonesia GDP is scheduled for release today
- 08.30 Australia retail sales
- 09.45 China Caixin services PMI
- 16.20 Taiwan foreign reserves