Skip to Content
News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
Asia Stocks Under Pressure, Will US ISM Services PMI Sink S&P 500?

Asia Stocks Under Pressure, Will US ISM Services PMI Sink S&P 500?

Daniel Dubrovsky, Contributing Senior Strategist


What's on this page

Asia Pacific Markets Wrap Talking Points

  • Market mood continued souring after weakness on Wall Street
  • AUD/USD weakened after a slight uptick on the RBA, PHP down
  • Sentiment may worsen if US ISM Services PMI data disappoints

Find out what retail traders’ equities buy and sell decisions say about the coming price trend!

Asia Pacific benchmark stock indexes traded mostly lower, adding to declines seen during the prior Wall Street trading session as expected. Markets have been struggling to build on some of the most significant progress made in US-China trade talks. Meanwhile, technical cues offer early warning signs that S&P 500 could be topping.

The Nikkei 225 declined over 0.5% while Australia’s ASX 200 fared slightly better, down roughly 0.3%. South Korea’s KOSPI fared worse, down over 0.6% heading into the close. Meanwhile, China’s Shanghai Composite rallied roughly 0.2%. The government set out on fiscally-supportive policies to bolster their economy before worse-than-expected Caixin PMI data crossed the wires.

Looking at the major currencies, the pro-risk Australian and New Zealand Dollars depreciated. The former got a slight boost on the RBA rate decision, as expected, but risk trends took their toll on the Aussie. The haven-linked US Dollar appreciated. Meanwhile, the Philippine Peso set itself up for its worst day since December after President Rodrigo Duterte gave a surprise when he named the next Governor of the BSP.

S&P 500 futures remain pointing lower, opening the door for sentiment to continue souring over the rest of the day. This may benefit the anti-risk Japanese yen. Later, US ISM non-manufacturing data will cross the wires. Lately, economic data out of the world’s largest economy has been tending to underperform relative to economists’ expectations. This may weigh on market mood, sending Wall Street into the red again.

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.