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. See our updated Privacy Policy here.

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
More View more
Real Time News
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/2Qka1WPhnE
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/kloJCFmJty
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/wwxKQFibW6
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX! A look at the levels heading into #FOMC - https://t.co/lxd5fZnn4H
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/Nx6AHxZksK
  • Markets Week Ahead: Euro, Dollar, Gold, S&P 500, Earnings, Inflation Check out @RichDvorakFX's latest market recap and preview plus all the weekly forecasts from the @DailyFXTeam at the link below! Link to Analysis - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/07/25/markets-week-ahead-euro-dollar-gold-sp500-fed-earnings-inflation.html $EURUSD $SPX #Trading
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/xKkBwu951j
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/MYWlQphqtb
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/paOy1oQmn3
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX here: https://t.co/CH4WoStHvu
Asian Stocks Mixed, Glued to White House

Asian Stocks Mixed, Glued to White House

David Cottle, Analyst

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