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
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • 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. Get your ASEAN currencies market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/ZGFaQQ3Hr2
  • The #Euro is the big driver here for DXY as it is 57% of the index. It is rising now and trying to break above the March 27 high at 11147. Get your $EURUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/73SaL5AeXD
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/EIC9YqfTec
  • Anybody else think that casting directors in movies are some of the most underrated people when it comes to giving a film/series credit?
  • No https://t.co/EoBltaP17k
  • Crude #oilprices may face heightened liquidation pressure as the cycle-sensitive #commodity finds itself under the pressure of resilient resistance and a vulnerable, multi-week rising channel. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/cGPX4qcOH1 https://t.co/0U4JMJVFuf
  • The @ecb will likely boost its Pandemic Emergency Purchase Program at Thursday’s meeting of its Governing Council; a move that could give the #Euro a lift. Get your currencies market update from @MartinSEssex here: https://t.co/I4PbmJNG1z https://t.co/hu6Ld1KdDB
  • $GBPUSD doesn’t have the cleanest set of technical indications, but #USD may give indications if it can break its trading range via the $DXY. Get your currencies market update from @PaulRobinsonFX here: https://t.co/PrC9wAaXvU https://t.co/vHYHflwqR3
  • The ongoing contraction in US production may keep #oilprices afloat in June as crude output falls to its lowest level since October 2018. Get your crude #oil market update from @DavidJSong https://t.co/jj1bMLX0DF https://t.co/O9NOqbfHkb
  • watching the #SpaceX launch🍿
Asian Stocks Rise On Fed Chair Powell's Comments, G20 Hopes

Asian Stocks Rise On Fed Chair Powell's Comments, G20 Hopes

2018-11-29 06:00:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Asian stocks made broad gains Tuesday
  • Trade hopes for the upcoming G20 meet also helped
  • The US Dollar was weaker as investors began to doubt the likely scale of US rate rises ahead

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

Asian stocks traded mostly higher once again on Thursday as investors parsed the latest commentary from Federal Reserve Chair Jerome Powell.

He said on Wednesday that US interest rates were closer to their neutral level, an important distinction from remarks made just a few weeks ago. Markets seem to have interpreted this as meaning that rates may not rise as far next year as they had previously thought, although it must be stressed that this is only an arguable point at this time.

Still, US stock markets enjoyed this speculation, and their Asian peers have done likewise even though the resulting US Dollar weakness is likely to weigh on local exporters if it intensifies. Hopes for some progress in the trade logjam between the US and China at this weekend’s Group of 20 Summit in Argentina are also lending markets some support.

The Nikkei 225 added 0.7%, with Shanghai up 0.2%. The Hang Seng pared its gains and was flat in the middle of its afternoon, while the ASX 200 tacked on 0.7%.

The US Dollar was weaker pretty much across the board thanks to that reassessment of Fed risks. Domestic economic data were sparse. New Zealand business confidence remained in the doldrums in November, but at least didn’t worsen much from the previous month. Australia’s private capital expenditure disappointed by falling 0.5%, when a 1% rise had been expected. However, the pace of declines did slow from the previous month.

AUD/USD has received a boost from that generally weaker US Dollar, arresting the downturn which seemed to threaten a trial of its current range base.

Asian Stocks Rise On Fed Chair Powell's Comments, G20 Hopes

That said the previous significant peak remains elusive, and it may remain so as month-end concerns build.

Gold prices gained on that weaker greenback-the prospect of lower US yields tends to support non-yielding gold. Crude oil prices clawed back up from their year’s lows, although demand doubts continue to cloud the market.

Still to come on Thursday are French and Swiss Gross Domestic Product numbers, along with Germany’s official unemployment figures for October and a UK home-loan snapshot. However, all these will likely be overshadowed by the wait for US personal consumption and jobless-claim figures.

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.