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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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Asian markets on the backfoot following from defensive play in global counterparts

Anderson Alves
July 28, 2021
in Markets
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Asian markets on the backfoot following from defensive play in global counterparts
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Asian markets begin on the backfoot, following on from defensive play in global counterparts with risk appetite weakened by the recent China sell-off, pre-FOMC and mixed US macro data. Traders are watching the Asia tech sector closely as worries with the recent crackdown are heating up. WeChat just announced that it will be halting new user registrations until August due to a security upgrade following new government regulations.

On the COVID front, some defensive plays are piling up. Investors started to reprice the pace of the reopening of the economies amid a recent spike in COVID-19 infections. In Australia, the New South Wales President confirmed a four-week extension for the lockdown in Sydney. Some desks are pushing back the RBA rate hike forecast to May 2023 from late-2022 citing recent lockdowns and growing concerns with the Delta variant. South Korea just reported 1.896 new COVID-19 infections, which is its highest daily increase since the start of the pandemic.

The major risk event of the session is the FOMC meeting, although no significant policy changes are expected. Traders will be monitoring the tone of the Fed statement and subsequent press conference from Chair Jerome Powell on whether new COVID variants are a concern for the committee officials. The Fed is expected to continue to frame the recent upside in inflation as transitory. Still, any hint that it could be something more persistent would likely cause a market shift. All ears will be on QE tapering chatter as well.

Tags: Covid-19FEDFOMCmacro data
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