Skip to content
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
Asian Stocks Higher, Japan Jawboning Sees USD/JPY Gain

Asian Stocks Higher, Japan Jawboning Sees USD/JPY Gain

David Cottle, Analyst

Talking Points:

  • Most Asian stocks were in the green as Tuesday’s session played out
  • The ASX was an exception as investors cashed out of miners
  • The US Dollar still looks weak but it rose a little from Monday’s lows

Check out the new DailyFX fundamental and technical forecasts across currencies for the coming quarter.

Most Asian markets were higher again Tuesday. The lack of a Wall Street lead thanks to a US holiday Monday kept investors nursing older themes with the still-weaker US Dollar giving the region’s plentiful exporters a lift. However US equity futures pointed to a strong open.

The Nikkei 225 closed up 1%, with most other bourses in the green. Australia’s ASX was a notable exception. It slipped 0.5% as the mining sector saw some profit taking. Hong Kong’s Hang Seng returned to gains after snapping a 14-session winning streak on Monday.

The Euro held steady close to three-year highs against the US Dollar although the broad Dollar index pulled up a little from Monday’s three-year low. The greenback was a little stronger against the Japanese Yen with the latter's gains limited by official comment out of Japan.Finance Minister Taro Asp told reporters that sudden moves in the currency were a problem.

Crude oil prices remained near their own three-year peaks, supported by a heady combination of production cuts and stronger demand. Gold prices held close to a four-month high, buoyed up by the Dollar’s weakness. Bitcoin and other cryptocurrencies slipped as a report circulated that a Chinese central bank official recommended the banning of their trade.

There’s a British flavor to much of the day’s remaining economic data. Offical UK Consumer Price Index data will steal the show, with the house-price index playing a supporting role. From the US will come the Empire Manufacturing Survey.

--- 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