A sea of red lead by Hong-Kong

FXstreet.com (Barcelona) - All local share markets in the Asia-Pacific are currently showing loses, lead by Hong-Hong's Hang-Seng down more than -1.5% in very early trading, lead by HSBC shanking more than -4% as the banks says growth is slowing down.

The Nikkei index is also lower by -1.18% below the 14200 points, while the Australian ASX is down -0.33% following lower than expected domestic trade balance, few hours ahead of RBA. The Shanghai Composite index opens lower by -0.38%, and the Korean Kospi trades down -0.88%.

Aug 6, 2013

Australian exports down despite weaker Aussie; Job ads plummet

The Australian Trade Balance for the month of June stood at $A 602 vs $A 800M expected and $A 670M last. Exports were -1% vs 4% last, while imports came at -2% vs 2% prior. On the ANZ job ads data, the newspaper ads plummeted by 6.8% vs -1.8% in July. Internet ads were also down 0.9%.

Flash: Look to establish a long USD/JPY position - RBS

Recent strength in the Japanese Yen is not consistent with a recent ebbing in confidence in Japan, notes Greg Gibbs, FX Strategist for RBS.