Treasuries steadied today and stocks were mixed across Asia, while U.S. equity futures climbed, as a tumultuous week characterized by heightened trade uncertainty and fears of a slowing global economy drew to a close. The dollar held onto gains in Asian Market opening trades today, after a surge in U.S. retail sales eased concerns about the world’s top economy, but traders cautioned against reading too much into one piece of data given the growing risks to the outlook. The greenback was on course for a weekly gain against safe-haven currencies such as the Japanese yen and the Swiss franc, pointing to some respite for frayed nerves after fears of recession and protests in Hong Kong rattled financial markets. Data showing American consumers continued to splurge in July came as a relief to investors after the U.S. bond market sounded alarms of a recession. Yet, the fragile calm in markets is unlikely to last. In currency trading today, the dollar was little changed at 106.11 yen after rising 0.2% yesterday. For the week, the greenback was up 0.4% against the Japanese currency. The Euro was marginally down at 1.1097 while the pound traded at $1.2083, down from a one-week high of $1.2150. The Indian Rupee opened weaker with a gap of 09 paisa at 71.36/37 against its previous session’s close of 71.27/28 and is expected to trade between 71.20 – 71.70 ranges today.
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