News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • https://t.co/GFLjg7kIle
  • Bank of England member Saunders says he is worried about the carryover economic implications of the coronavirus even after the vaccine is distributed
  • Gold is off to a rough start this week after falling more than $30 (nearly -2%) and breaking technical support around the $1,850 mark https://t.co/Xvo0U1IJ97
  • The United States' November PMI figure was arguably the most impressive among the developed nations that reported. The Dollar charge has in turn spurred a DXY rebound, EURUSD range swing and left $GBPUSD with the biggest 'upper wick' since March 20th: https://t.co/WAIUWeIMu2
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.35% 🇨🇦CAD: -0.01% 🇳🇿NZD: -0.15% 🇪🇺EUR: -0.26% 🇦🇺AUD: -0.28% 🇯🇵JPY: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cswKNjV4GW
  • Both European and US futures look slightly firmer at the European open, undoing some of the profit-taking seen at the end of last week as vaccine euphoria seemed to subside. Get your market update from @HathornSabin here:https://t.co/0m0t9Plqmb https://t.co/z9DqoZZvGL
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.68% Germany 30: 0.49% US 500: 0.40% France 40: 0.32% FTSE 100: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8vm1LhW7NY
  • The EU and UK continue their post-Brexit trade talks, stressing that a deal is within reach, but neither side is prepared to move to get a deal over the line. Again. Get your $GBPUSD market update from @nickcawley1 here:https://t.co/zvLtJvNBzL https://t.co/8NxmQ3ab8O
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.51% Gold: -1.84% Silver: -2.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FLCaX083ZO
  • Generally, all of the November PMIs were better than expected, but that didn't prevent Europe an Japan from contracting (below 50). US and Australia on the other end of the spectrum: outright strength. https://t.co/JPj6qN9FFa
Asian Stocks Mixed, Glued to White House

Asian Stocks Mixed, Glued to White House

2017-01-24 08:38:00
David Cottle, Analyst
Share:

Talking Points:

  • Asian markets were all about Trump for yet another session
  • US Dollar weakness and worries about White Houser trade policy continued to weigh
  • Gloom wasn’t universal however as Australian shares ticked up

Asian stocks were mixed again on Tuesday while the US Dollar remained heavy. Once again, the backdrop was one of uncertainty over President Trump’s economic policies, with the foreground spiced by his withdrawal of the US from the Trans Pacific Partnership trade deal.

Trump had promised to pull the US out on the campaign trail, saying that to do so would secure and protect American jobs. The TPP was a cornerstone of Barack Obama’s geopolitical thinking and a big part of his so-called “pivot to Asia.”

Judging by Japanese official comment, Japan is dismayed at the new Administration’s attitude to TPP but is still hopeful – for public consumption at least – that Trump can be talked around. Other TPP members have made similar noises but the deal is hugely undermined by the loss of its biggest member state.

The Japanese Yen continued to gain against a generally weaker US Dollar. The Nikkei doesn’t usually like this, and didn’t this time, falling 0.4% by mid-afternoon and extending Monday’s falls. This was despite a rather punchy report from the Japanese manufacturing sector which passed Trump-fixated markets by. The Australian ASX benchmark had a better session: it was up 0.7%. Here strength in its vast raw materials sector was a vital prop. Base-metal prices were stronger, thanks to that weaker US Dollar and continuing hopes that a Trump White House will spend big on infrastructure.

Mainland Chinese shares were mixed in trade which seems to be thinning as the long Chinese New Year celebrations approach. Shanghai was down 0.8%, Shenzhen fell 0.2%. Hong Kong’s Hang Seng rose 0.4%.

The greenback continued to slide against all major rivals as markets nervously eyed a more protectionist US and what that might mean for the currency. The British Pound just managed to keep a stiff upper lip, with GBP/USD up around 1.25. This was despite Tuesday’s UK Supreme Court decision on who can fire the Brexit starting gun. The government of Prime Minister Theresa May is expected to lose its appeal against use of reserve powers to trigger Article 50 of the Treaty of Lisbon, which would officially start the Brexit process.

However, if it does, the question will be just how protracted the political preamble to invocation will be. In short, there is plenty of Sterling risk about on Tuesday.

Elsewhere, crude oil prices continued to creep higher, buoyed by hopes that production cuts will hold.

The British Pound’s nervy Tuesday, so far…

Asian Stocks Mixed, Glued to White House

Chart compiled using TradingView

How does your currency view match other traders? The DailyFX sentiment indicator will let you see.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES