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Asian stocks tumble amid the risk-off mood today The Hang Seng is down by 1.7% while the Shanghai Composite is down by 0.6%, with the Kospi and STI also seeing losses of over 2% and 3% respectively on the session.

This comes as Johns Hopkins University reports that confirmed cases in the country surpasses the 2 million mark Amid the ongoing protests in the country, the virus story is fading into the background – also the same for markets – but it is still something to be wary about.

Daily thread to exchange ideas and to share your thoughts The initial reaction to the Fed hasn't been too optimistic even as Powell did not take away the punch bowl from the market. US futures are down heavily today, lower by about 1.5% now as we look towards the start of European trading.

It is going to be all about how the market digests the Fed Meanwhile, Treasury yields fell further back into its previous range with Powell having said that yield curve control is "an open question" and reaffirming that they are "not even thinking about raising rates" at this point in time.

Equity indexes are on the slide, the Nikkei is opff 2%  while S7P emini futures on Globex are approaching down 1% Across FX the declines for currencies against the USD is becoming broader. I highlighted in the in the wrap AUD was the big loser, but other joining in.

Forex news for Asia trading Thursday 11 June 2020 Minor moves only during the post-FOMC session here in Asia, and a mixed bag of results. Yen crosses remained under a little pressure with a lower USD/JPY but net for the day the moves are mainly small. USD/JPY dropped to circa 106.90 and is just under […]

Business Sentiment Index (BSI) survey conducted by the Ministry of Finance and the Economic and Social Research Institute (a part of Japan's Cabinet office) is conducted quarterly.

The RBA will keep monetary policy loose in the months ahead as they try to help reboot the economy.  For bank trade ideas, check out eFX Plus

Part of the infrastructure spending fiscal boost out of China ahead for the year: – In Beijing alone 13,000 5G base stations will be built – will take the total in the capital to above 30K stations State media carrying the report overnight. 

The commodities trading desk at GS are up USD 1 billion YTD, info via Bloomberg, citing "according to people with knowledge of the matter"   – generated more than $1 billion in revenue this year through May to the article if you'd like more.