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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Greek 20-year bond yield over the last five years. #ecb #qe @DailyFXTeam https://t.co/6X2LEMtp2z
  • 🇮🇹 Business Confidence (NOV) Actual: 90.2 Expected: 93.5 Previous: 94.7 https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇮🇹 Consumer Confidence (NOV) Actual: 98.1 Expected: 99 Previous: 101.7 https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇹🇼 GDP Growth Rate YoY Final (Q3) Actual: 3.92% Previous: -0.58% https://www.dailyfx.com/economic-calendar#2020-11-27
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/7gtgUO9NYp
  • 🇮🇹 Business Confidence (NOV) Actual: 90.2 Expected: 93.5 Previous: 95.6 https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇮🇹 Consumer Confidence (NOV) Actual: 98.1 Expected: 99 Previous: 102.0 https://www.dailyfx.com/economic-calendar#2020-11-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.45%, while traders in NZD/USD are at opposite extremes with 73.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/LRbRW0ml57
  • Heads Up:🇮🇹 Business Confidence (NOV) due at 09:00 GMT (15min) Expected: 93.5 Previous: 95.6 https://www.dailyfx.com/economic-calendar#2020-11-27
  • Heads Up:🇮🇹 Consumer Confidence (NOV) due at 09:00 GMT (15min) Expected: 99 Previous: 102.0 https://www.dailyfx.com/economic-calendar#2020-11-27
Asian Stocks Mixed As Investors Look to Powell Testimony

Asian Stocks Mixed As Investors Look to Powell Testimony

2018-02-27 06:36:00
David Cottle, Analyst
Share:

Talking Points:

  • Asian stock markets were mixed but most posted gains
  • Investors hope Jerome Powell won’t ratchet up the hawkish rhetoric
  • A wider trade gap weighed on the New Zealand Dollar

Have you ever wished that you knew more about Bitcoin? This free DailyFX guide to the basics was written for you.

Most Asian markets made gains Tuesday but the US Dollar lost a little ground as investors awaited Congressional testimony from new Federal Reserve Chair Jerome Powell which is coming up.

Markets keenly await news of his current thinking on the likely path of US interest rates and prospects for inflation. The current hopeful mood seems to have been engendered by faith that Powell will not add to the current vista which takes in three rate rises this year.

The Nikkei 225 was up by 1.1% at the close, with tech, manufacturers and financials all in the green. The Kospi added 0.3% and Australia’s ASX was 0,2% higher. Chinese stocks did less well and returned some of the previous sessions’ gains as investors mulled news that the rules may change to allow President XI Jinping to serve another term.

US Treasury yields went nowhere in particular as the markets looked to Powell. The US Dollar eased very slightly across the board, although the Australian Dollar weakened against it a day very short of key Asia/Pacific market news. The New Zealand Dollar was also on the defensive thanks to the release of trade data which showed a larger than expected deficit.

Gold prices were steady but crude oil prices slipped back a little, although they remain close to three-week highs.

There’s plenty left on Tuesday’s economic schedule. Aside from that Fed testimony investors can look forward to Germany’s Consumer Price Index, US goods trade and durable-goods order data, consumer confidence numbers and the Case-Shiller House Price Index.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter:@DavidCottleFX or us the Comments section below to get in touch

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

DISCLOSURES