Forex Today: Risk-off dominates Asia on Spain ‘Terror Attack’, a light session ahead

Forex today in Asia witnessed tight trading ranges, as sentiment remained dampened by the tragic Terror Attack that hit Western Europe overnight. A weaponized van rammed into crowds of tourists on Barcelona's most famous avenue, killing at least 13 people in an attack that was claimed by Islamic State.

As a result, demand for the Safe-haven assets such as the Yen, gold and Swiss franc remained buoyed, while risk assets such as the Asian equities and oil traded on the back foot. Meanwhile, the Antipodeans and Cable traded with modest gains, mainly driven by broad based US dollar weakness amid lingering US political troubles.

Main topics in Asia

Terror attack update: yen bid, driver still at large, arrests and suspects shot dead

It all started at about 4.30 in the afternoon along Las Ramblas that the incident at first was reported to be a huge car crash. 

Trump ends plans for his Council on Infrastructure – CNN

According to a White House official, President Trump has ended plans for an Advisory Council on Infrastructure.

Asian stocks in a sea of red on Barcelona attack, Trump woes

The stocks on the Asian bourses dive deep in the red zone, tracking the sell-off on the Wall Street overnight, after the demand for risk assets dropped on the reports of Barcelona ‘Terror Attack’.

China’s NDRC approves $24.8 bn worth of fixed-asset investment projects in July

Reuters out with the latest headlines from China’s state economic planner, the National Development and Reform Commission, citing that China approved 165.5 billion Yuan ($24.80 billion) worth of fixed-asset investment projects in July.

Key Focus ahead

The EUR calendar remains data-light on the final trading day of the week, which could offer little impetus to the EUR and GBP traders. The German PPI data will be published ahead of the European opening bells, while the Eurozone current account data will be released in early European trades.

Moving on, the NA session remains relatively eventful, with the Canadian CPI releases on the cards, followed by the US prelim UoM consumer sentiment and inflation expectations data.  Also, of note will be the FOMC member Kaplan’s speech scheduled at the Dallas County Community College.

EUR/USD looks to regain 1.1750 amid weaker DXY, risk-off

The EUR/USD pair remained better bid in Asia on the final trading day of the week, having found fresh buyers just ahead of 1.17 handle, as investors look to take cues from the USD dynamics and persisting risk trends amid a data-light trading calendar ahead.

GBP/USD - Will bond yield spread save the day for GBP bulls?

The GBP/USD pair rose to an Intraday high of 1.2909 on Thursday before deflating to 1.2866. 

Canadian CPI is seen lifting to 1.2% from 1.0% - NAB

In the view of analysts at National Australia Bank (NAB), Canada’s CPI is seen ticking higher on the back of rising BOC rate hike expectations.

US Prelim UoM Consumer Sentiment preview - NAB

Analysts at National Australia Bank (NAB) are out with their brief preview on the upcoming US prelim UOM consumer sentiment data, which will fill in an otherwise data-light US calendar today.