Morning Update – 06/11/2017 – by Arjun Lakhanpal

Morning all.. Wall St finished in the green across the board Friday with the S&P closing up 0.3% and the Nasdaq up 0.74%. Asia had mixed results after China senior central banker warned of risks of higher leverage and debt within the Chinese economy. Whilst the Nikkei closed around unchanged as the JPY weakened, HK and other Asian stock markets edged lower. The yen tumbled to the weakest since March after Bank of Japan Governor Haruhiko Kuroda said it’s crucial for inflation to exceed the 2 percent target. Asian stocks slipped after China’s central bank chief warned again about excessive leverage and President Donald Trump brought up trade grievances on a trip to the region. USDJPY made a high of 114.74. Hong Kong’s Hang Seng Index pared losses after dropping the most in more than two weeks in the wake of People’s Bank of China Governor Zhou Xiaochuan’s latest salvo on the continuing accumulation of financial risks. Japanese equities joined a selloff after the yen’s decline offered support earlier. Kuroda underscored in a speech Monday that the BOJ is committed to overshooting its inflation goal, auguring no appetite for tapering stimulus. Oil extended an advance above $55 a barrel, with traders keeping an eye on the surprise power shakeup in Saudi Arabia over the weekend. Iron ore surged more than 5 percent buoying AUD to some small degree. The RBA announce their rate decision in the early hours of Tuesday. Trump in Tokyo on Monday complained of unfair trade with Japan, pressing the country to step up investment in the U.S. He goes on to South Korea and China this week, with further prospects for trade tensions to pop up. This morning we get Swedish CPI data and Industrial Production and PMI services from Spain, France Germany and the EU. Good luck.