Markets Eye US-China Trade Talks for Fresh Catalyst
| Action Insight Daily 6-9-25 |
Markets Eye US-China Trade Talks for Fresh Catalyst |
Asian equity markets opened the week on a positive note, supported by cautious optimism surrounding the high-stakes US-China trade negotiations in London. US Treasury Secretary Scott Bessent, along with Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer, are meeting Chinese counterparts as efforts to revive dialogue intensify. The outcome of these talks could set the tone for broader risk sentiment in the coming sessions. Despite the upbeat market tone, traders appear restrained in their positioning. While recent developments — such as China’s approval of rare earth export licenses — hint at a willingness to de-escalate, there’s little in the way of concrete breakthrough yet. White House economic adviser Kevin Hassett tempered enthusiasm by pointing out that China's release of critical minerals remains below what the US believes was agreed to previously in Geneva. As such, expectations for a definitive deal remain muted, limiting any aggressive risk-on trades for now. Currency markets reflect this tempered tone. Aussie and Kiwi are modestly firmer, benefiting from the underlying improvement in sentiment, Dollar and Loonie are trading on the softer side. European majors and Yen are relatively steady in the middle. With most major pairs holding inside Friday’s ranges, the currency space is clearly in wait-and-see mode..... |
AUD/USD Daily Report Daily Pivots: (S1) 0.6476; (P) 0.6497; (R1) 0.6513; More... AUD/USD recovers mildly today but stays below 0.6536 resistance. Intraday bias remains neutral for the moment. Further rise is in favor as long as 0.6406 support holds. On the upside, decisive break of 0.6536 will resume the rally from 0.5913 to 61.8% retracement of 0.6941 to 0.5913 at 0.6548. However, firm break of 0.6406 will turn bias to the downside for 38.2% retracement of 0.5913 to 0.6536 at 0.6298. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 22:45 | NZD | Manufacturing Sales Q1 | 5.10% | 1.10% | 3.00% | | 23:50 | JPY | Bank Lending Y/Y May | 2.40% | 2.40% | 2.40% | 2.30% | | 23:50 | JPY | Current Account (JPY) Apr | 2.31T | 2.59T | 2.72T | | 23:50 | JPY | GDP Q/Q Q1 F | 0.00% | -0.20% | -0.20% | | 23:50 | JPY | GDP Deflator Y/Y Q1 F | 3.30% | 3.30% | 3.30% | | 01:30 | CNY | CPI Y/Y May | -0.10% | -0.20% | -0.10% | | 01:30 | CNY | PPI Y/Y May | -3.30% | -3.00% | -2.70% | | 03:00 | CNY | Trade Balance (USD) May | 103.2B | 101.1B | 96.2B | | 05:00 | JPY | Eco Watchers Survey: Current May | 44.4 | 43.9 | 42.6 | | 14:00 | USD | Wholesale Inventories M/M Apr F | 0% | 0% |
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