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
USD/JPY
Mixed
Gold
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
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.09% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.09% 🇦🇺AUD: -0.32% 🇬🇧GBP: -0.50% 🇯🇵JPY: -0.99% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wgWwdD5x3d
  • EU Trade Chief Hogan: - US-China Phase one trade deal is not likely to comply with WTO - EU to focus on assessing US-China Phase one trade deal for weeks more
  • RT @realDonaldTrump: Highest Stock Market In History, By Far!
  • #Gold: The next level of resistance at $1,611.5/oz. is close by and a break and close above here would suggest that gold has further to rally. Get your $XAUUSD market update from @nickcawley1 here: https://t.co/NfPiDuavvB https://t.co/RMSNwzvkEh
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: France 40: 0.86% Germany 30: 0.81% US 500: 0.50% Wall Street: 0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vIJlkMby5t
  • EU Trade Chief Hogan says US displaying more goodwill in discussions around trade - BBG $EUR
  • $USDJPY held back against the risk-on lift and Dollar bid as long as it could. Multi-year wedge resistance finally breaks with biggest single-day rally since Aug 19. If you are confident in risk-on, this is a late bloomer https://t.co/IEslLn5nuo
  • With all this talk about gold, #Silver has flown under the radar a little bit as it tests resistance around $18.30 $XAG https://t.co/yOnXW2r2rP
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.91% Silver: 0.51% Gold: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/sW9aqUbTec
  • Copper (HG) Price Technical Analysis: Crucial Chart Points & Signals to Watch More details in the link below: https://www.dailyfx.com/forex/technical/article/special_report/2020/02/19/Copper-Price-Technical-Analysis-Crucial-Chart-Points-Signals-to-Watch-MK.html?CHID=9&QPID=917714 https://t.co/4SGOEgGUyq
Asian Stocks Mostly Wilt As Fed Hike Knocks Wall St, US Data Eyed

Asian Stocks Mostly Wilt As Fed Hike Knocks Wall St, US Data Eyed

2018-09-27 04:56:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Stock markets were mostly in the red
  • Higher US rates and the prospect of still-more rises made Wall St take fright
  • The Dollar got an initial boost, then steadied

Find out what retail foreign exchange investors make of your favorite currency’s chances right now at the DailyFX Sentiment Page

Asian stocks were mostly lower on Thursday. Gains were always likely to be tough following the previous session’s Wall Street declines, which came in turn after the Federal Reserve raised interest rates once again and seemed set to continue the process for some time yet.

The Dow Jones Industrial Average lost more than 100 points after Fed Chair Jerome Powell didn’t seem worried about upside inflation pressure, although the prospect of a long trade dispute between the US and China was of course a concern. Sure enough the Nikkei 225 was down 0.6% as its close approached, with all other major bourses lower with the exception of South Korea’s Kospi. It managed to buck the trend and rise.

The US Dollar got an unsurprising initial boost from Fed commentary but steadied through an uneventful Asia Pacific session. The New Zealand Dollar had a modest lift from the Reserve Bank of New Zealand’s monetary policy decision. For sure the RBNZ left the Official Cash Rate alone at its 1.75% record low- as had been widely expected. Still, it said it sees ‘welcome signs’ of a core inflation uptick. Still, it also said that it expects the rate to be steady over the next two years.

NZD/USD remains under clear overall downward pressure, as well it might with the interest rate gap with the US widening. Still, it seems to have settled into a broad range trade over the past month or so, with early September’s lows enduring at the base.

Downtrend Arrested: New Zealand Dollar Vs US Dollar, Daily Chart

Gold prices inched up as the metal’s fall in the wake of that US rate hike brought out the buyers. Crude oil prices rose with investors looking nervously to the effects of new sanctions against Tehran.

There is a great deal of meat left on Thursday’s economic bones. On the central bank front we’ll hear from European Central Bank President Mario Draghi at a meeting in Frankfurt chaired by Bank of England Governor Mark Carney. As for data, there’s another look at second-quarter US Gross Domestic Product, along with August’s durable goods orders, pending home sales and trade balance. Out of Europe will come German Consumer Price Index data and the ECB’s Economic Bulletin.

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.