ForexLive Asia-Pacific FX news wrap: Oil traded lower

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Despite the weekend Middle East escalation oil dropped lower on the reopening for
the week in European and US Sunday evening/Monday morning Asia trade.
It managed to retrace much of its opening loss, not all, and as I post
is dribbling back to the downside again.
</p><p>Major
forex rates were relatively subdued. USD/JPY had a 30 or so point
range, held in check by the imminent Bank of Japan statement due
around this time tomorrow. AUD/USD caught a bid after much better
than expected m/m retail sales growth, the quickest since January,
and firming the prospects for a November 7 Reserve Bank of Australia
rate hike. NZD/USD tracked Oz higher. The Australian government
walked away from a potential FTA with the EU after negotiations
stalled over insurmountable sticking points. AUD/USD shrugged this
off.</p><p>Asian
equity markets:</p><ul><li><p>
Japan’s
Nikkei 225 -1.2%</p></li><li><p>
China’s
Shanghai Composite -0.3%
</p></li><li><p>
Hong
Kong’s Hang Seng -0.5%
</p></li><li><p>
South
Korea’s KOSPI +0.4%</p></li><li><p>
Australia’s
S&amp;P/ASX 200 -0.4%
</p></li></ul><p align="left">
(This
chart is from our charting app, which is free and <a href="https://www.forexlive.com/LiveCharts">can
be found at this link</a>)</p>

This article was written by Eamonn Sheridan at www.forexlive.com.