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
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • 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/WQLZ1X7gIY
  • but the next major point in my view to monitor will be 52.76 - at least in the short term.
  • #Brent having broken above the pre-OPEC drop off at 45.51 is a huge deal considering it failed to crack resistance there in August (leading to the invalidation of "uptrend 2") and the psychological significance of that level https://t.co/LkEyRxFhnq
  • The New Zealand Dollar looks poised to extend its push higher against its haven-associated counterparts on robust economic data and a less dovish stance from the RBNZ. Get your $NZD market update from @DanielGMoss here:https://t.co/vytr4OR1Jy https://t.co/ZcxEUWIm8O
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/x8uyOHLtgE
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/CaMR0Vqd1m
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:https://t.co/urDN2b5Nwd https://t.co/toSDbVZCSi
  • The global stock market can be categorized into specific groups or ‘stock market sectors’. Organizing the vast number of stocks in this way helps traders to view assets in a more manageable way. Get your stock market sectors basics here: https://t.co/5gbiHmY8yl https://t.co/mQ6ty8Yalv
  • The Euro looks poised to continue gaining ground against haven-associated currencies and may reverse higher against the British Pound in the near term. Get your #Euro market update from @DanielGMoss here:https://t.co/oRIHju7ZzK https://t.co/dIEErVzWEY
  • Gold and silver prices have come under significant pressure recently. However, this correction lower could prove short-lived as price analysis hints at a reversal higher. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/K1qL0fsGwy https://t.co/tRfjlN6X22
Asian Stocks Gain Modestly As Oil Prices Rise, BoE In Focus

Asian Stocks Gain Modestly As Oil Prices Rise, BoE In Focus

2018-05-10 06:49:00
David Cottle, Analyst
Share:

ASIAN STOCKS TALKING POINTS:

  • Major indexes were broadly higher
  • The New Zealand Dollar got a kicking from lowered central bank growth and inflation forecasts
  • The US Dollar is still riding high

Find out what the #1 mistake that traders make is and how you can fix it!

Asian shares moved broadly higher Thursday, tracking gains on Wall Street which came in turn as higher oil prices boosted energy names after Donald Trump’s withdrawal of the US from a nuclear deal with Iran.

The Nikkei 225 added 0.39% with similar modest gains seen across major Asian stock markets from Australia to China.

Oil prices continued to forge up to multi-year highs as the markets attempted to adjust to looming US sanctions against major producer Iran, which will also threaten third countries which do business there.

The US Dollar remained the king of foreign exchanged with interest rate differentials driving it higher against the Euro and Sterling. The New Zealand Dollar was clobbered by a Reserve Bank of New Zealand interest rate decision. Rates were left alone at record lows as expected but forecasts were growth and inflation were nudged lower raising the strong prospect that rates will not rise for some time.

New RBNZ Governor Adrian Orr sounded a more dovish tone too.

Japanese trade data came in quite strongly but the Summary of Opinions from the Bank of Japan’s last monetary policy meeting left investors in little doubt that current, ultra-loose monetary policy settings are staying put.

The Malaysian Ringgit slipped in the forward market Thursday following the shock re-election of 92-year-old former Prime Minister Mahthir Mohamad. Stock markets there were closed.

Financial markets have so far made only a muted response to news of skirmishes between Israel and Syria.

Gold prices were steady with a firmer US Dollar weighing on them but with the markets’ various other worries supporting.

Still to come Thursday is the Bank of England’s monetary policy decision –with no change now expected. US consumer prices are also due, as are jobless claim numbers.

GBP/USD has fallen sharply this month have markets reassess the chances of another upward move in UK interest rates.

British Pound Vs US Dollar, Daily Chart

It has found support at January’s lows but another dovish performance from Governor Mark Carney on Thursday could see it head lower once more.

RESOURCES FOR TRADERS

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use 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