A rough day for Asian equities as risk is tilted to the softer side
A bumpy day in Wall Street is making for some uneasiness in the new week, with Asian stocks retreating alongside US futures today. The Hang Seng is down 2.4% while the Shanghai Composite is down 1.4% going into the closing stages.
This comes as S&P 500 futures are down 0.5% ahead of European trading.
In turn, this is putting some light pressure on commodity currencies with the aussie and kiwi leading declines in the major currencies space.
Of note, NZD/USD is down to 0.7175 and tracking back under its 100-hour moving average, closing in on a test of its 200-hour moving average at 0.7170.
