Passersby walk past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar outside a brokerage in TokyoAsian markets should open in upbeat mood on Wednesday as lower U.S. bond yields and a weaker dollar reflect expectations that the Fed will cut interest rates as early as September, but the apparent serenity could be shattered in a flash.
There's nothing immediately obvious on the Asian economic calendar that might rock the boat on Wednesday - Australian wage growth data, Thai consumer confidence and Indonesian trade figures are the main indicators on tap. China's commerce ministry said the move will "seriously affect the atmosphere of bilateral cooperation" and Italian Economy Minister Giancarlo Giorgetti said the G7 will discuss the risk of fragmenting global trade next week.