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
Bullish
GBP/USD
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
USD/JPY
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
Gold
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • CPI in fact is at its highest point since January 2012 https://t.co/2XPVc7RxbB
  • China CPI and PPI came in better than expected but #AUDUSD isn't really giving much of a reaction, suggesting traders are waiting for the December 15 tariff decision and other major fundamental developments this week like the FOMC rate decision
  • 🇨🇳 CNY Producer Price Index (YoY) (NOV), Actual: -1.4% Expected: -1.5% Previous: -1.6% https://www.dailyfx.com/economic-calendar#2019-12-10
  • 🇨🇳 CNY Consumer Price Index (YoY) (NOV), Actual: 4.5% Expected: 4.3% Previous: 3.8% https://www.dailyfx.com/economic-calendar#2019-12-10
  • The $AUD erased half of November’s down move in a mere two days but the dominant trend bias continues to favor weakness ahead. Get your market update from @IlyaSpivak here:https://t.co/ShYksfwmHk https://t.co/W9iOmofo7d
  • Heads Up:🇨🇳 CNY Producer Price Index (YoY) (NOV) due at 01:30 GMT (15min), Actual: N/A Expected: -1.5% Previous: -1.6% https://www.dailyfx.com/economic-calendar#2019-12-10
  • Heads Up:🇨🇳 CNY Consumer Price Index (YoY) (NOV) due at 01:30 GMT (15min), Actual: N/A Expected: 4.4% Previous: 3.8% https://www.dailyfx.com/economic-calendar#2019-12-10
  • -How exposed are crude oil prices to weather-induced disruptions? - Flooding, high heat, climate change risks rattling key supply chain - Increased volatility in weather patterns may become a key concern https://www.dailyfx.com/forex/fundamental/article/special_report/2019/09/11/How-Crude-Oil-Prices-React-to-Weather-Induced-Disruption-Fears.html
  • 🇦🇺 AUD NAB Business Confidence (NOV), Actual: 0 Expected: N/A Previous: 2 https://www.dailyfx.com/economic-calendar#2019-12-10
  • The $USD may rise on the FOMC rate decision, while the British Pound, Swedish Krona and Norwegian Krone may gain on the UK election and ECB outlook. Get your market outlook from @ZabelinDimitri here:https://t.co/WvWHP8D710 https://t.co/6e5mzqwicG
Asian Stocks Mixed, Turkey Fears Still Weigh As US Retail Sales Loom

Asian Stocks Mixed, Turkey Fears Still Weigh As US Retail Sales Loom

2018-08-15 04:57:00
David Cottle, Analyst
Share:

ASIAN STOCKS TALKING POINTS:

  • Asian stocks were mixed with Turkey worries still weighing on some
  • The US Dollar was supported by haven bids, while oil prices slipped
  • The Hong Kong authorities intervened to counter greenback strength

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

Asian stocks were mixed in Wednesday’s afternoon trade. Investors kept half an eye on troubled Turkey but the country’s currency, the Lira, seemed to have stabilized a bit after recent sharp falls.

The country’s problems remain, though, as markets look askance at the increasingly autocratic rule of President Recep Tayyip Erdogan. The Nikkei 225 was down 1.1%, with stocks in Shanghai and Hong Kong also lower. Australia’s ASX 200 and South Korea’s Kospi managed gains on local stock stories, but rises were quite modest.

Turkey’s woes were still evident in the foreign exchange market where the US Dollar remains close to 13-month highs against a basket of its major traded rivals. This broad strength reportedly saw the Hong Kong Monetary Authority intervene to prop up its currency against the greenback on Wednesday, for the first time since May.

The US Dollar’s strength also weighed don gold prices. Crude oil prices were lower too and DailyFX’ Semior Currency Strategist Ilya Spivak thinks they could fall further on upcoming inventory data. West Texas Intermediate prices have tracked consistently lower from the peaks of early July as concerns have grown about the overall strength of the global economy.

However, the bears have so far been thwarted quite well above the last significant low, which was June 17’s $63.38/barrel.

Just above support, US Crude Prices, West Texas Intermediate, Daily Chart

Still to come on Wednesday are UK Consumer Price Index data, and US mortgage application numbers. However, the day’s main event will be the release of official advanced US retail sales figures for July.

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.