Monday, 15 January 2018

Asian markets higher; dollar extends losses

Posted by Anonymous at 10:19 Labels:


Asian stock markets were mostly higher on Monday following a solid lead from Wall Street last week and as the dollar continues to soften across the board.

American financial markets will be closed on Monday in observance of the Martin Luther King Day holiday. Low trading activity expected.

US equity indexes closed last week in green territory, supported by major financial names which reported better-than-expected quarterly results. Among those, JP Morgan Chase, BlackRock and Wells Fargo.

<<< US Stock Indexes >>>

Dow Jones                             +228.46          +0.89%           25803.19
S&P 500 Index                       +18.68            +0.67%           2786.24
NASDAQ Composite             +49.29            +0.68%           7261.06

<<< Next in Europe >>>

In Europe, traders will keep an eye on trade balance figures for November at 10:00 GMT. Analysts are forecasting a surplus of 22.4 billion euros, higher than the previous 18.9 billion.

Ahead in the week, traders will be turning into fresh consumer price indexes from Germany and the Eurozone. These reports could impact on future policy decision by the ECB.

<<< Currencies >>>

In the light of a thin economic agenda, traders will be paying close attention to the Forex market in the next few hours. The EURUSD has taken a leading role in the last few days, rising to multi-year highs on the back of expectations that the ECB will begin to scale back stimulus.

The EURUSD was 0.03 percent higher at 1.2206 by the time of this writing. Minutes from the European regulator boosted the euro across the board last week, leaving the bloc’s currency in levels not seen since 2014.

The US dollar index, which measures the greenback against six major currencies, was trading 0.17 percent lower at 90.59 by the time of this writing.
In other news, China’s yuan jumped above a two-year high as Germany's central bank confirmed it would be adding the yuan to its currency reserves.

<<< Asian Stock Indexes at 07:30 GMT >>>

Australia ASX S&P                +10.90            +0.18%           6,187.70
Shanghai Composite             -18.45             -0.54%            3,410.49
Hong Kong Hang Seng          -99.73             -0.32%            31,312.81
Japan Nikkei 225                   +61.06            +0.26%           23,714.88

Taiwan TSEC 50 Index          +72.35            +0.66%           10,956.31

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