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The Antipodeans Declined Amid Mixed Investors Sentiment

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Asian shared traded mixed on Thursday as investors digested Chinese President Xi Jinping’s comments about the country planning to pursue trade and investment liberalization and facilitation. Meanwhile, COVID-19 worries continued to affect sentiment in Japan and Hong Kong.

On the economic front, Australia’s unemployment rate rose to 7% in October 2020 from 6.9% in the previous month, but below market expectations of 7.2%. However, the employment increased by 178,800 to 12,773,900, beating expectations of a 30,000 fall, as full-time employment went up by 97,000 to 8,643,700, and part-time employment gained 81,800 to 4,130,200.

In the FX markets, both AUD and NZD traded slightly lower, following overnight losses in Wall Street amid uncertainty from renewed restrictions on the business activity as COVID-19 infections continue to rise.

On the other hand, the JPY erased some of its gains as investors cheered vaccine developments with cautious optimism as global new coronavirus cases rise to record levels.

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