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
Mixed
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.44% 🇦🇺AUD: 0.38% 🇬🇧GBP: 0.24% 🇯🇵JPY: -0.09% 🇪🇺EUR: -0.12% 🇨🇭CHF: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/uZij6QvltC
  • Heads Up:🇪🇸 Consumer Confidence due at 10:30 GMT (15min) Previous: 49.9 https://www.dailyfx.com/economic-calendar#2020-06-05
  • 🇮🇪 GDP Growth Rate QoQ Actual: 1.2% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2020-06-05
  • 🇮🇪 GDP Growth Rate YoY Actual: 4.6% Previous: 6.2% https://www.dailyfx.com/economic-calendar#2020-06-05
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 2.37% Germany 30: 1.91% FTSE 100: 1.20% Wall Street: 1.19% US 500: 0.84% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/BqYlafcod9
  • OPEC+ agrees in principle to extend production cut by a month, according to sources
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/k0flD1C2H7
  • China vows to take countermeasures against US list on 33 entities
  • ECB's Lane says PEPP boost is a proportionate response to outlook, adds that the ECB stands ready to adjust all of its instruments $EUR
  • $EURUSD: los continuados avances auguran más angustia cuando llegue la corrección #eur #usd #BCE #trading https://t.co/YWe3C3FJ6D
Asian Stocks Rise Broadly As US/China Trade Talks Kick Off

Asian Stocks Rise Broadly As US/China Trade Talks Kick Off

2019-01-07 06:02:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Stocks were higher Monday, with the Nikkei 225 surging
  • 48-hour trade talks between the US and China started in Beijing
  • The US Dollar was weaker as investors rethought likely interest rate policy, again

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

Asia Pacific stocks made broad gains Monday with trade hopes once again very much to the fore. These have been dashed before of course but, with vice-ministerial levels talks scheduled between the US and China in Beijing will take place over the next 48 hours, markets seem prepared to give the latest round the benefit of their doubts.

The Nikkei 225 surged 2.9%, its automakers especially strong. It was the clear leader however although all other major bourses were in the green. The Shanghai Composite was up by 0.6%. The Hang Seng added 1%, as did Sydney’s ASX 200. The Kospi was up by 1.6%.

The US Dollar weakened further. Federal Reserve Chair Jerome Powell said on Friday that central bank was not on a preset path of interest rate increases, and that it will be sensitive to the risks currently priced in. Despite last weekend’s very strong US employment data, rate futures markets have shortened the odds against interest rate cuts ahead.

Powell is due to speak again this week, on Friday, to the Economics Club of Washington.

Gold prices made gains on that weaker US Dollar. The oldest haven asset of all is now at highs not seen since mid-June last year on its daily chart.

Breaking to the upside? Spot Gold, Daily Chart.

The spot price is also attempting to break out of a broad uptrend channel which had previously contained trade since November 18. Crude oil prices got a lift from revived traded hopes and also from supply cuts by major producers which were agreed last year.

Still left on Monday’s data slate are retail sales data for the Eurozone. Germany’s Purchasing Managers Index for the construction sector is coming up too, along with factory-orders figures. The composite PMI for the US from the Institute for Supply Management is also due.

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.