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  • $USD still sticking to the range. I'd be surprised if this holds until #NFP on Friday. But at the least there's some definition to work off of $DXY https://t.co/kHZnEFP1AX https://t.co/jkE2gugZpL
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.43% Gold: -0.18% Oil - US Crude: -0.90% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zbfas5ZeLn
  • SEC Chair Gensler: - SEC will take powers "as far as they go" when regulating crypto - I am looking forward to reviewing filings for Bitcoin ETFs
  • SEC Chair Gensler: - We don't have enough investor protection in crypto - Crypto trading platforms require compliance with securities law
  • $ES slingshot right back to 4400, now testing underside of tl $SPX $SPY https://t.co/C8MKSlhDYU https://t.co/afOW3tDMko
  • SEC Chair Gensler: - Crypto trading, lending, and decentralized finance platforms should be top priority for oversight - Stock tokens, stable value tokens backed by securities and all virtual products providing exposure to underlying securities fall under SEC oversight
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.55% 🇦🇺AUD: 0.36% 🇯🇵JPY: 0.20% 🇨🇭CHF: 0.12% 🇪🇺EUR: -0.04% 🇨🇦CAD: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/p4hWvfg6jr
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.53% US 500: 0.50% France 40: 0.24% Germany 30: 0.17% FTSE 100: 0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0kcXNlAb2W
  • The price of gold appears to have reversed course following the failed attempt to test the July high ($1834). Get your $XAUUSD market update from @DavidJSong here:https://t.co/oPADzNsKeJ https://t.co/5g19bJ4Mkn
  • Ominous looking level here for the S&P 500 (via $SPY). Things could get ugly if this support zone gives way. At what point will stocks start paying attention to crude oil and bonds, which have been sounding the alarm bell for weeks? $SPX #StockMarket https://t.co/FXGCwzx19D
Asian Stocks Mostly Catch Wall St Optimism, US CPI Up Next

Asian Stocks Mostly Catch Wall St Optimism, US CPI Up Next

David Cottle, Analyst

Asian Stocks Talking Points:

  • Regional share markets were mostly boosted by a strong Wall Street lead
  • Local economic data were more mixed, with Japanese household spending falling short
  • The US Dollar was weighed down a little by the latest Federal Reserve comments

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

Asia Pacific equity markets were mostly higher Friday, with regional investors clearly cheered by the sight of a five-day Wall Street winning street.

A lack of any overt bad news on Chinese/US trade relations seems to have been taken as good news. The two sides do at least appear to be stepping back from any tariff war escalation and the negotiation process is ongoing.

Federal Reserve Chair Jerome Powell declared himself very worried about US debt levels, but he did call this a long-term problem and so by inference not one which current policy settings are meant to explicitly address.

Asian economic numbers were mixed, with Japanese household spending down more than expected in November but Australian retail sales slightly beating forecasts for the same month.

The Nikkei 225 had added 1% in the middle of the Tokyo afternoon, with most other major indexes in the green, albeit by a little less. The ASX 200 bucked the trend, with some cash clearly taken off its table after a four-day winning streak.

Still, the Sydney stock benchmark is looking quite strong. It is well above the dominant downtrend line from 2018 and has established a steep new uptrend channel.

Fighting Back. ASX 200, Daily Chart

Some consolidation will probably be in order shortly, but if that takes place around the previous significant peak- December 7’s 5840- then bulls will probably still have cause to remain hopeful.

Mr. Powell also reiterated Thursday that the Fed could afford to be patient with monetary policy, a comment which put the US Dollar on the defensive.

The remaining economic highlight of Friday will be the official US Consumer Price Index for December. DailyFX Senior Currency Strategist Ilya Spivak suspects that these data could make the going tough for both gold and crude oil prices.

The former gained a little through the Asian session as the greenback remained under pressure. Meanwhile oil retraced a little but still looks set for a weekly rise, thanks to those hopes for trade rapprochement.

There’s a plethora of numbers out of the UK, from manufacturing and industrial production through to trade figures. However unless these vary widely from forecast expectations they are likely to be lost on Sterling traders amid all the Brexit hubbub.

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.

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