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
Asian Stocks Mixed As Growth Worries Dominate, USD Edges Up

Asian Stocks Mixed As Growth Worries Dominate, USD Edges Up

David Cottle, Analyst


What's on this page

Asian Stocks Talking Points:

  • Stock markets were mixed as a new week got started in Asia
  • Last week’s feeble US employment numbers were of course noted
  • The US Dollar made gains as Brexit worries haunted Sterling

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

Asian stocks traded mixed on Monday with worries about global growth to the fore once more following weak economic numbers from the US and China last week.

February’s official labor statistics from the former found only 20,000 nonfarm jobs created in February, massively below the 180,000 expected. Those numbers came not long after news that Chinese export levels had collapsed.

Federal Reserve Chair Jerome Powell was interviewed early in the Asian session. He was cautiously upbeat on US economic prospects but said that the Fed could afford to be patient in its monetary policy. He also said that he did not believe the President had the right to fire him, speaking to Donald Trump’s apparent annoyance with last year’s interest rate rises.

There are still hopes of a trade settlement between the world’s two largest economies and that seems to be keeping risk appetite underpinned.

As Monday’s close loomed the Nikkei 225 was up 0.4%. The Shanghai Composite added 1.2%. However the ASX 200 was off 0.3% and South Korea’s Kospi shed 0.1%.

In the foreign exchange space, the US Dollar edged higher against major traded rivals with the British Pound losing ground once again thanks to uncertainties over Brexit. Tuesday will see a parliamentary vote on the latest plan, with the government expected to lose once more.

Gold prices edged down as the Dollar gained, while crude oil rose thanks to OPEC production cuts and a fall in US drilling.

UK Pound Vs US Dollar, Daily Chart

GBP/USD has retraced much of the mini-rally which characterized late February’s trade and daily chart focus is now once again on lows from the middle of that month in the 1.2764 region.

Still to come Monday are German industrial production numbers, along with trade and current account data from the same country. However, January’s advance US retail sales figures will top the bill as far as markets are concerned.

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.