Dollar higher on risk aversion

Singapore - Asian Stocks are mixed Today's Wednesday session after the Wall Street yesterday's drop on weak European and American data which fueled risk aversion. Tankan survey and vehicle sales in Japan may have shown that economic recovery is slower than expected. Dollar is rising against EUR, GBP and JPY on risk aversion.

Nikkei 225 index is declining 0.19% so far today, S&P Asia 50 is posting 0.95% gains,MSCI Asia Apex 50 advances 0.78%, Hang Seng index from Hong Kong falls 0.81%, Australian S&P/ASX 200 drops 2.05% and Straits Times Index from Singapore is sliding 0.17% during its today's session.

The Tankan large manufacturing Outlook has posted -30 pts data in the 2Q, better than 34 pts expected by market and well above than -51 pts posted in the previous quarter. Vehicle sales data drops 14.0% in June, better than 19.0% collapse in May. Despite improvements, markets have reacted with concern about economic recovery may be slower than expected.

Risk aversion has returned to markets and the low volatility is seen in almost all of charts ahead the European opening bell. EUR/USD is posting 0.05% declines after trading around 1.4030/40. GBP/USD has fallen 0.40% so far today to test 1.6400 level.

USD/JPY advances further today's session, 0.50% above opening price to test 97.00 level. USD/CHF is looking for daily direction after trading a range between 1.0850 and 1.0870 during the Asian session.