News and data flow were light during the session and major FX traded within narrow ranges.

On the data front we had two consumer confidence surveys from Australia, both of which were deeply pessimistic. On the other hand the results of the most recent National Australia Bank Business Survey which showed business confidence and business conditions both improved.

From China was news that giant property developer Country Garden had won approval to extend six onshore bond repayments. China stock markets are up on the day, as is AUD (a China-proxy trade). All moves are very small.

Asian equity markets:

  • Japan’s Nikkei 225 +0.6%

  • China’s Shanghai Composite +0.01%

  • Hong Kong’s Hang Seng +0.04%

  • South Korea’s KOSPI -0.5%

  • Australia’s S&P/ASX 200 -0.04%

Bitcoin popped back toward USD26K:

btc wrap chart 12 September 2023