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
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • $USDCAD, $AUDUSD Near-term Technical Setups - https://t.co/HOOdZz6IIF https://t.co/DRiqmlKXHg
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.11% Gold: -0.91% Silver: -3.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/u41nMRKgOj
  • A pretty clean break from $SPX and other risk-sensitive assets are following along. As Hans Landa said in Inglorious Basterds: "Ooooooo. That's a Bingo" https://t.co/fLqS3kL8li
  • US Dollar Index reaches a multi-month high as markets strike a risk-off tone $USD $DXY https://t.co/m8AdjHztFX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 70.14%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/GgwsfrU5lz
  • EUR/USD sheds 40-pips in a matter of minutes as the US Dollar strengthens broadly. Get your $EURUSD market update from @RichDvorakFX here:https://t.co/wIlo9Tbp7A https://t.co/It5iIFhMmL
  • Well, I don't think Powell will temper interest/concern around central banks having to pullback in the foreseeable future. Both 'taper tantrum' and 'operation twist' search interest charging higher: https://t.co/NK17S328F3
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.86% FTSE 100: -1.20% France 40: -1.27% Wall Street: -2.32% US 500: -2.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/KjNr7ongtX
  • Nasdaq now down over 3% today, confirming 10% correction territory. $QQQ
  • $USDCHF has continued to strength today, now above the 0.9280 level, trading around the highs hit in late September. The pair has performed strongly since mid February as US rates have continued higher, rising from 0.8900 by nearly 400 pips to its current levels. $USD $CHF https://t.co/qrHY8Sy2sf
Asian Stocks Inch Higher From Early Falls, Oil Prices In Focus

Asian Stocks Inch Higher From Early Falls, Oil Prices In Focus

David Cottle, Analyst

Asian Stocks Talking Points:

  • Most major bourses found a base as Monday’s session went on
  • The US Dollar stayed up as markets again looked to the Federal Reserve
  • Oil prices bounced back too as promised Saudi supply cuts saw oversupply worries abate

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

Most Asian stocks clawed back into the green on Monday after a tepid start characterized by the global growth worries which had weighed last week. Oil prices were also in focus following comments from OPEC at the weekend suggesting that rising production and a tepid outlook for major economies will leave the market oversupplied into 2019. Saudi Arabia announced a production cut for December in an effort to halt a supply glut which has seen prices lose 20% since the start of October.

Still, investors clearly decided that equity had suffered enough for now part-way through the Asian morning. The Nikkei 225 was up by 0.2% as its close loomed, with the ASX 200 in the green by 0.2%. Similarly modest gains were evident in China, with Shanghai up 0.6% and Hong Kong higher by 0.1%. Only Seoul’s Kospi bucked the general trend, as it often seems to do these days, falling 0.4%.

The Nikkei 225 is flirting with the uptrend line which had previously held the market since October 29.

Asian Stocks Inch Higher From Early Falls, Oil Prices In Focus

This is interesting because it looks as though the still-nascent recent uptrend is fading out before it has reclaimed the precious significant peak – the 22,943 hit in late October. Conclusive failure to hold above the current uptrend, defines as a daily or weekly close below it, would put the 21000 region back in bearish focus.

The US Dollar built on last week’s gains and inched broadly higher, supported as it often is by the prognosis of yet-higher interest rates from the Federal Reserve. The British Pound came under pressure again as markets continued to doubt whether the government’s Brexit deal will get through parliament.

Crude oil prices added a little over 1% as the markets digested that Saudi announcement earlier.

The rest of the day lacks punchy scheduled economic numbers with no likely crowd-pleasers on the slate for either Europe or North America

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