See the points above for a look at what to look for in the US non-farm payrolls and ISM services PMI data to be released on Friday morning, particularly the range of estimates and why they are important to be aware of. please.
Asian currencies traded in a narrow range, with the US dollar showing some strength overall. The euro, yen, pound, Australian dollar, New Zealand dollar, Canadian dollar, and gold are all down slightly against the high dollar.
US political media reported that the Biden administration is overseeing the drafting of a plan to counter the Iranian-backed Houthi militants, who have been attacking commercial ships in the Red Sea. The prospect of escalating war in the Middle East supported the dollar and oil.
Bitcoin came under pressure amid growing speculation that spot ETF approval was imminent. Rumors have been circulating for months now, and the crypto market appears to be exhibiting a “selling the truth” reaction.
Locally, Chinese government bonds rose further, with the 10-year bond yield falling further towards 2.5%, its lowest level in three years. The increase in demand for government bonds as market interest rates fall indicates further policy easing pressure from the People's Bank of China. Offshore RMB. CNH rose above 7.1800 during trading, its lowest since December 13th.
Furthermore, in local news, North Korea fired more than 200 coastal artillery rounds toward Yeonpyeong Island on the South Korean border, and the South Korean military issued an evacuation order to civilians on the island. But South Korea confirmed that the shell missed the island and landed north of the Northern Limit Line (NLL), the disputed maritime border with North Korea. South Korea says it will respond with live-fire training.
Korea KOSPI index:
