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
Mixed
GBP/USD
Bullish
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
Bullish
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
Gold
Bearish
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • Heads Up:🇪🇺 EUR Euro-Zone Industrial Production w.d.a. (YoY) (AUG) due at 09:00 GMT (15min), Actual: N/A Expected: -2.5% Previous: -2.0% https://www.dailyfx.com/economic-calendar#2019-10-14
  • RT @Tony_Nyman: MS #FX Trades of the week - Sell $USD/NOK at market for 8.74. Stop 9.20 - Sell $USD/CNH at market for 6.95. Stop 7.21 #Lowe…
  • German Economy Ministry - German economy remains in weak phase - Economic indicators have not yet pointed to a trend reversal - Pronounced recession is not expected $EUR
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/XtDrpjR4yT
  • Crude Oil Prices May Give Back Gains as Brexit Optimism Wanes - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2019/10/14/Crude-Oil-Prices-May-Give-Back-Gaons-as-Brexit-Optimism-Wanes.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #OOTT #crudeoil #Brexit
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/RlubZzBmyN
  • Why trade with Bollinger Bands®? Find out as a day trader, how you can use it to your advantage:https://t.co/dwODDDSsFi @WVenketas https://t.co/lzHvMaeOxU
  • (#ASEAN Fundamental Forecast) US Dollar Outlook on SGD, INR and IDR Amid Trade Talks, China GDP #USD $USDSGD $USDINR - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/10/14/US-Dollar-Outlook-on-SGD-INR-and-IDR-Amid-Trade-Talks-China-GDP.html?CHID=9&QPID=917702 https://t.co/EKyMMEJa00
  • LIVE NOW: Join Currency Analyst @ZabelinDimitri as he previews the upcoming week’s main political themes and discusses their impact on the financial markets. Register here: https://www.dailyfx.com/webinars/146770987?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • China’s CNY Trade Balance (SEP) Actual: $39.65b Est: $34.75b Previous: $34.83b And China’s CNY Trade Balance CNY (SEP) Actual: 275.15b Est: 253.80b Previous: 239.60b
Asian Stocks Fade Investors Look to US Data, Trump/Putin Meet

Asian Stocks Fade Investors Look to US Data, Trump/Putin Meet

2018-07-16 04:24:00
David Cottle, Analyst
Share:

ASIAN STOCKS TALKING POINTS:

  • Asian stocks were slightly lower in the main
  • Chinese growth data sprung no nasty surprises
  • US retail sales will be in focus, as will Putin and Trump’s Finland meeting

The DailyFX Third-Quarter Fundamental and Technical Forecasts are out now.

Asian stocks couldn’t carry last Friday’s strong Wall Street lead with them into a new trading week with modest falls evident on Monday.

There seemed to be no one particular reason behind equity’s apparent lack of enthusiasm, but all major bourses were lower as their closes loomed, if not by much. The Shanghai Composite was down 0.4% with the ASX down 0.4% and the Hang Seng in the red by 0.2%. The Nikkei 225 was closed for a holiday, depriving other markets of what can often be the key regional bellwether.

Trade worries remained very much to the fore, and may have been dampening sentiment. The day’s major Asia Pacific economic release came in the form of official Chinese Gross Domestic Product data for 2018’s second quarter. These met forecasts, by and large. The world's second largest economy expanded by 6.7% on the year, still above the official 6.5% target set by Beijng earlier this year.

Major currencies were stuck to ranges as the markets looked to those Chinese numbers and then, when those came in as expected, seemed to settle down to await US retail sales figures which are coming up later in the session. Traders are also keen to see what comes from US President Donald Trump’s meeing with his Russian counterpart Vladimir Putin. The two will meet later in Helsinki.

Gold prices edged up from seven-month lows and crude oil prices slipped back, reportedly as traders suspect that supplies are likely to increase still further.

Monday’s economic data schedule is not well populated beyond those likely-key US retail sales figures, the Empire manufacturing survey and Eurozone trade levels for May.

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

News & Analysis at your fingertips.