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
Bearish
Oil - US Crude
Bearish
Wall Street
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.45% 🇦🇺AUD: 0.41% 🇨🇦CAD: 0.24% 🇪🇺EUR: 0.19% 🇨🇭CHF: 0.14% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GIhmNlRbox
  • Heads Up:🇯🇵 All Industry Activity Index MoM due at 04:30 GMT (15min) Previous: -0.6% https://www.dailyfx.com/economic-calendar#2020-05-26
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.11% France 40: 1.11% FTSE 100: 0.66% Wall Street: 0.56% US 500: 0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2KW0hE7YH7
  • AUSTRALIA PM MORRISON: - Businesses need to judge China risk, but iron ore trading figures reassuring - Reopening the economy over 3-5 years will be more difficult than closing it down, facing "most challenging [economy]...outside of wartime." #AUDUSD
  • (#ASEAN Fundy) The US Dollar could rise against ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data $USDSGD #USD $USDINR - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/05/25/US-Dollar-May-Rise-as-SGD-Falls-on-US-China-Woes-Indian-Rupee-at-Risk.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/BHR1vaN8vO
  • BOJ GOV KURODA: - will consider expanding ETF purchases if needed - monetary easing is needed until price-target is met - will consider new easing measures if needed - BoJ's extraordinary measures wont stay post-coronavirus #USDJPY #BOJ
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 1.44% Oil - US Crude: 1.02% Gold: 0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zbMOhIkpeW
  • As political tensions between the US and China increase, $gld is picking up a safe-haven bid ahead of the long weekend and may look to press higher. Get your $XAUUSD market update from @nickcawley1 here: https://t.co/boUn4vyfCO https://t.co/beDj1yEO0U
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.29% 🇦🇺AUD: 0.28% 🇬🇧GBP: 0.17% 🇪🇺EUR: 0.14% 🇨🇭CHF: 0.12% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qj45yOo16T
  • BOJ GOV KURODA: - will consider changing rates of yield curve control if needed - will consider expanding loan programs if needed #USDJPY #BOJ
Asian Stocks Wilt Again On Trade Fears, US Durable Goods Up Next

Asian Stocks Wilt Again On Trade Fears, US Durable Goods Up Next

2018-11-21 06:17:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Equity markets were weaker across the board
  • US falls and seemingly endless fretting about global trade saw to that
  • The US Dollar saw broad if modest gains

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

Yet more Wall Street weakness made the going tough for Asia Pacific stocks on Wednesday, with trade worries once again to the fore.

The US said on Tuesday that China has failed to alter what Washington terms the “unfair, unreasonable” practices at the heart of the current trade spat between the two global titans. This finding was part of the US Trade Representative’s investigation into China’s intellectual property practices.

Leading US indexes fell sharply again on Tuesday too, with the so-called FAANG tech giants in bear-market territory (they are Facebook, Amazon, Apple, Netflix and Google parent Alphabet).

Local stocks followed them down, with the Nikkei 225 off 0.3%, the Shanghai Composite and Hang Seng both down by 0.2%. Australia’s ASX 200 shed 0.5%, with retail names under some pressure. Seoul’s Kospi was in the red by a similar amount as its close loomed.

The Nikkei has fallen very sharply from the multi-year highs of early October.

Important Support Nears. Nikkei 225, Daily Chart

However, it remains for the moment above a key range of daily-chart support between October’s lows and those of March, 2018 which are also the lows for the year. Unless the bulls can hold the market at the former, the latter may well come quickly into focus for the broader market.

With those trade and growth worries in prospect, it should be no surprise that perceived haven currencies rose in Wednesday’s trade. The US Dollar seemed to get the best of it, edging higher against its major traded rivals. USD/JPY rose once again, with the bout of Yen strength seen earlier this month petering out a little. While both currencies have the apparently requisite haven stats, the greenback continues to offer considerable yield advantage over its Japanese peer.

Gold prices crept lower, not an uncommon sight as the Dollar gains. Crude oil prices recovered somewhat from their recent slump but the market remains very skittish as investors try to form a view about likely medium-term demand.

Still awaiting investors on Wednesday’s schedule are the economic outlook from the Organization for Economic Cooperation and Development, UK public spending figures and the University of Michigan’s sentiment snapshot. However all these are likely to be mere bit players to the main event- October’s US durable goods order numbers. Jobless claim data and crude oil inventory figures are due too.

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.