Asian shares dozed near recent highs in quiet trade on Monday as investors waited to see if the recent sell-off in longer-dated U.S. Treasuries ...
Asian shares dozed near recent highs in quiet trade on Monday as investors waited to see if the recent sell-off in longer-dated U.S. Treasuries would extend, and maybe take some pressure off the beleaguered dollar.
E-Mini futures for the S&P 500 firmed 0.25per cent in early trade to be just below its record close of 3,386.15. U.S. crude oil shipments to China will rise sharply in coming weeks, as the world's two top economies gear up to review their January deal after a prolonged trade war. "Market participants will be looking for insight into the details and exact timing of when the Fed's Monetary Policy Review will be completed, and also for more clarity with respect to the potential timing and structure of any changes to forward guidance," noted analysts at NatWest Markets.
The lift in yields gave the dollar some respite after weeks of losses. Against a basket of currencies the dollar was a fraction lower at 93.0-08, still uncomfortably close to the recent trough of 92.521. "EUR/USD is still undervalued relative to the value implied by price deflator differentials which pegs"fair value" at around US$1.2300."
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