Never miss a story from David Cottle

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to David Cottle

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Asian Stocks Talking Points:

  • Stock markets were higher across the region, with US retail strength the previous day helping
  • Trade hopes for the forthcoming G20 meet are dominating market action
  • The US Dollar inched up, suggesting these hopes are far from universal

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

Asia Pacific equity rose across the board on Tuesday, probably tracking Wall Street gains in the previous session. These came in turn on retail pep as investors looked forward to strong Cyber Monday spending.

The markets are still looking nervously though to this week’s meeting of Donald Trump and his Chinese counterpart Xi Jinping at the Buenos Aires meeting of leaders from the Group of 20 leading industrial economies. The Summit kicks off on Friday and, although there seems to be some hope that some trade progress will be made, President Trump has already said that a planned increase in tariff barriers on January 1 is highly unlikely to be delayed.

Still, for now markets seem to be clinging to those hopes. The Nikkei 225 rose 0.7%, with Shanghai up 0.4% and the Hang Seng effectively flat. Australia’s ASX added 1%. The Aussie benchmark continues to hold above November’s lows.

ASX 200- Daily Chart

However, it will need to do so on a monthly closing basis to remain within its dominant long-term uptrend.

Currency markets seemed a little more worried about Mr. Trump’s comments and perhaps a little less certain that anything concrete on trade will come from the G20. The US Dollar maintained its haven bid against most major rivals, although the Austrlaian Dollar also managed gains as the Asian session went on.

The day’s major regional economic data revealed that China’s industrial profit growth decelerated for a sixth straight month, with October’s 3.6% annualized rise below the 4.1% seen in September.

Gold prices inched lower as the Dollar held up, while crude oil prices fell again on news of record Saudi output. US consumer confidence data will top what remains of the international economic schedule. The US house price index is also coming up, along with the Conference Board’s monthly snapshot of consumer sentiment.

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!