Asia equities are trading mostly positive after the mild gains seen on Wall Street. The S&P 500 reclaimed the 4700 level as sentiment was underpinned by stronger than expected U.S. Industrial Production and Retail Sales data. Retail stocks were in the spotlight amid solid reports from Home Depot and Walmart posting solid reports.
Traders will keep a close look at the U.S. Dollar as it extends its recent solid form, emphasised by the dollar index printing a fresh year-to-date high for a fifth consecutive session. Firmer U.S. Treasury yields pushed USD/JPY to its best levels since March 2017, bringing the Y115.00 figure into action. Pressure in metals, both industrial and precious, F.X. traders saw activity currencies and EMFX pressure too. On the trade front, fresh reports note that China is to speed up plans to replace U.S. and foreign tech. This could escalate and affect the global tech sector as a whole.
