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.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
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
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
Bitcoin
Bearish
More View more
Real Time News
  • Tomorrow's event risk include employment numbers out of Australia, German and Euro-Zone GDP Q3 readings, overnight rate decision from Banxico, and Fed Chair Powell will testify before the House Budget Committee $EUR $MXN $AUD $DXY https://t.co/2oJpJwij0q
  • DailyFX Sr. Currency Strategist @CVecchioFX is a long term macro trader. What is your #tradingstyle? Take the quiz and let us know in the comments! https://t.co/LPBOcS0Vtd https://t.co/GmxPPpX1Be
  • This tweet from last week is just as true today as it was then https://t.co/RPZp0xAF7C
  • $EURUSD Daily Pivot Points: S3: 1.0944 S2: 1.0981 S1: 1.0995 R1: 1.1031 R2: 1.1053 R3: 1.1089 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.28% 🇨🇭CHF: 0.31% 🇯🇵JPY: 0.18% 🇪🇺EUR: -0.02% 🇦🇺AUD: -0.05% 🇨🇦CAD: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DMbCFCWxda
  • The People's Bank of China said the country's crypto solution - 'digital Yuan' - should have ‘controllable anonymity’. I may be reaching here, but I don't expect strong global uptake from the crypto community...
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 1.06% Oil - US Crude: 0.50% Gold: 0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xdwa4LvTDp
  • The Eurozone Citi economic surprise index rises to -15.9 today from -57.3 on October 24th, reflecting improving economic data releases relative to consensus expectations. https://t.co/u15ZV7rNne
  • Crude #oil prices have continued their recovery as progress on the US-China trade war front has reduced concerns over global growth. Get your crude oil market update from @CVecchioFX here: https://t.co/Ic78Q6IlWm #OOTT https://t.co/89TAIkty5j
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.63%, while traders in France 40 are at opposite extremes with 85.42%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZdU3O8HxqL
Asian Stocks Slide As Investors Eye Falling Oil Prices

Asian Stocks Slide As Investors Eye Falling Oil Prices

2017-06-21 07:16:00
David Cottle, Analyst
Share:

Talking Points

  • Most Asian markets were in the red as Wednesday’s session bowed out
  • Oil prices were front and center, wilting further as investors fear an entrenched supply glut
  • Bank of Japan Governor Kuroda had little new for markets

Get live coverage of all major Asia/Pacific economic data at the DailyFX webinars

Asian stocks were mostly lower Wednesday; oil prices have now fallen into bear-market territory, which weighed on commodity sectors around the region. The long-awaited inclusion of Chinese stocks in the key MSCI indexes offered Chinese markets some initial support but only Shanghai managed to hold some gains into the afternoon session.

The Nikkei 225 closed down 0.5% with Australia’s ASX down 1.4%.

Local data were thin on the ground. The minutes of the Bank of Japan’s April policy meeting created few waves but did at least underscore the markets’ view of a central bank not about to shift policy.

The US Dollar slipped back from one-month highs against a basket of widely-traded rivals. The British Pound continued to struggle after Bank of England Governor Mark Carney appeared to quash hopes of a near-term interest rate increase in a speech on Tuesday. Bank of Japan Governor Haruhiko Kuroda spoke in Tokyo but had little new for markets. He said that while he and his colleagues still expect inflation to pick up, there was a still a very long way to go before it got near the central bank’s 2% target.

Crude prices, which lost about ten cents/barrel across the board. Investors seem to increasingly doubt that production cuts from more traditional producer nations will meaningfully reduce the markets’ now-ancient glut even if reduction quotas are complied with. Oil futures contracts reportedly slipped into bear-market territory, having fallen more than 20% from recent peaks.

Gold prices crept higher on Wednesday, albeit from the previous day’s five-week lows. The slightly weaker greenback and a pullback for equities reportedly helped.

It’s not a big day for scheduled economic news in the European or North American sessions. However investors can look forward to UK public finance numbers, the US existing home sales report and crude oil inventory data out of key delivery hub Cushing, Oklahoma.

--- 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

News & Analysis at your fingertips.