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:

  • Equity markets were mostly higher as the week bowed out
  • The Nikkei 225 was the glaring exception to this rule
  • Percieved haven assets got the better of the US Dollar

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

Asia Pacific stocks were mostly higher in Wall Street’s wake on Friday, but the Nikkei 225 lagged proceedings following a gloomy note struck by the Bank of Japan.

The ‘summary of opinions’ from its December monetary policy meeting showed rate setters worried that the global economic outlook was darkening, with risks more generally skewed to the downside. Some on the monetary policy committee also feared that recent oil price falls could further delay inflation’s return to the long-elusive 2% target.

The Nikkei 225 was down 0.3% as its close loomed, the only major regional benchmark to be in the red. Shanghai was up 0.2%, with Hong Kong up 0.1% and the ASX 200 up by 0.7%. The Japanese benchmark has made a new low for 2018 this week, in common with plenty of other developed market indexes. However, it has bounced quite considerably following US stocks remarkable turnaround since Christmas.

Strong bounce. Nikkei 225- Daily Chart

Continuing trade tensions between China and the US saw perceived haven currencies like the Japanese Yen and Swiss Franc higher against the US dollar Friday, although the growth-linked Australian Dollar also managed gains.

Gold prices inched back through the session as stock markets generally held up. Crude oil prices managed modest gains but fear of gross oversupply continues to cap this market.

Friday’s remaining data highlights will include official German inflation numbers and the advance US goods trade balance for November. The Chicago Purchasing Managers Index is also coming up, as is news of last month’s pending home sales.

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!