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
Bullish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/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
USD/JPY
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
More View more
Real Time News
  • House Financial Services Committee schedules second GameStop hearing for March 17 - BBG $GME
  • Speaker Pelosi says minimum wage increase will not be removed from House Covid bill - BBG
  • Asia-Pacific equities opened broadly lower amid a 'risk off' sentiment following a sour lead from Wall Street overnight. Rising yields and a stronger US Dollar exerted downward pressure over risk assets. https://www.dailyfx.com/forex/market_alert/2021/02/26/Dow-Jones-Falls-on-Rising-Yields-ASX-200-Nikkei-225-Tumble-.html https://t.co/3p7prANkLA
  • The Australian Dollar looks poised to outperform the haven-associated US Dollar and Japanese Yen. However, it may lose ground to the New Zealand Dollar. Key levels for AUD/USD, AUD/JPY and AUD/NZD.Get your $AUD market update from @DanielGMoss here:https://t.co/cuxRxl5WaF https://t.co/MD0ppnO7t6
  • RT @FxWestwater: $NZDUSD, $NZDJPY React as Soaring Treasury Yields Skew Market Risk Profile Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/02/26/NZDUSD-NZDJPY-React-as-Soaring-Treasury-Yields-Skew-Market-Risk-Profile.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $TNX https://t.c…
  • Biden authorized strikes on Iran-backed militant groups. Strike was in response to attacks on US, coalition forces -BBG citing DOD #CrudeOil
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your market update from @DanielGMoss here:https://t.co/KYdUv2lpFC https://t.co/ZZUJ4AZEhc
  • Market Snapshot: Risk aversion is deepening as Friday APAC trade gets going $NZDUSD and $AUDUSD sinking Following declines in #SP500 and #Nikkei225 futures #USD broadly higher, anti-risk Japanese #Yen as well US 10-Year Treasury rates remain higher https://t.co/gQ50vS73P0
  • RBNZ's Orr: To consider settings against types of home lending, financial stability policies can help government housing objectives -BBG
  • RBNZ's Orr: Only focused on inflation, employment targets -BBG
Asian Markets Fade on US Dollar Weakness, Flynn Departure

Asian Markets Fade on US Dollar Weakness, Flynn Departure

David Cottle, Analyst

Talking Points:

  • A weaker US Dollar and the early loss of a key Donald Trump appointee saw Asian bourses on edge
  • The Australian Dollar was particularly bullish thanks to an upbeat business confidence survey
  • Now the floor belongs to Federal Reserve Chair Janet Yellen

The Nikkei 225 fell victim to a weaker US Dollar on Tuesday, making life tough for regional stocks more generally. The greenback in turn wilted as a key presidential advisor resigned.

President Donald Trump’s National Security Advisor Michael Flynn stepped down after less than a month behind the desk, amid concerns over his Russian contacts. The US Dollar slid against most major rivals, with the Australian Dollar especially well supported. That was thanks to a very upbeat business confidence survey out of its home country.

Other Asian data were thin on the ground but markets did get a look at January’s official inflation figures out of China. These were much stronger than expected at both the consumer and factory gate level, but the statistics agency cautioned that prices may well have ticked up strongly ahead of February’s long Lunar New Year break rather than from inherent, durable strength.

The Nikkei closed down 1.13%. Toshiba added to its woes, falling 7% after saying that it could not yet announce when fourth quarter earnings for 2016 will be released. Australia’s ASX 200 benchmark closed just five points lower, but that modest weakness masked a slide from deep in the green earlier in the session.

The day’s big event is likely to be Federal Reserve Chair Janet Yellen’s Congressional testimony. The markets are currently pricing in about a 30% chance that US rates will rise next month, as they have for much of this young year. Investors will be desperate for any clues as to the likelihood of that, and as to whether the Fed’s December prognosis remains intact. Back then the central bank’s baseline expectation was that interests would rise three times in 2017.

Amid a generally weaker US Dollar, US and Brent crude oil prices recovered from their 2% slide which had been down to indications of rising US shale output and former USD appreciation. The US Dollar Index made three-week highs on Monday above the 111 handle, but has slipped back since.

Would you like to know more about trading the foreign exchange markets? The DailyFX trading guides are a great first stop.

--- 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