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
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • RT @next_china: U.S., China chief trade negotiators spoke by phone on Saturday, Xinhua reports https://t.co/dMQtd0g4jY
  • The $AUDUSD and $EURUSD downtrend may prolong as traders counterintuitively buy into their descent. Meanwhile, the USD/CAD uptrend may accelerate on rising net-short bets. Get your market update from @ddubrovskyFX here: https://t.co/dlzJ31kf3f https://t.co/xp8P9MmCgb
  • As we head into next week, Cable is continuing to digest the massive leg higher last month, which at some point soon could mean another surge. Get your $GBPUSD technical analysis from @PaulRobinsonFX here: https://t.co/LJ42YhDe3X https://t.co/5hGwhGBpLB
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/urMnUCq4fn
  • RT @markets: White-hot pot stocks have flamed out in spectacular fashion https://t.co/3GsVsRyZaZ
  • What is the best time to trade #forex? Find out: https://t.co/M9R46r5ewa #tradingstyle https://t.co/gJ1QDrox67
  • #Gold prices may be given a tailwind from the FOMC minutes and escalating trade war risks if they fuel demand for anti-fiat assets amid expectations of additional Fed easing. Get your $XAUUSD market update from @ZabelinDimitri here: https://t.co/OJ7WUY9W7E $gld https://t.co/kBp3opzptm
  • Why should you set trading goals? How can it help regardless of what your #tradingstyle is? Find out: https://t.co/AYdD7ODlv1 https://t.co/G0ftVurNNN
  • Manning the penalty box today...i hope there aren't too many visitors https://t.co/1y81Li7laL
  • Do you think your #tradingstyle is of a #FOMO trader? Find out how you can turn that to #JOMO? Find out: https://t.co/79Q4pYdVEd https://t.co/S82AOd5AeP
Asian Stocks Mixed Despite US Tailwind, Tokyo's Long Absence Starts

Asian Stocks Mixed Despite US Tailwind, Tokyo's Long Absence Starts

2019-04-29 05:02:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Asia Pacific equity put in a mixed performance
  • US growth provided an initial boost but it faded quite quickly
  • A log run of Japanese holidays is getting under way

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

Asian stock markets endured a mixed Monday despite Wall Street’s bout of strength at the end of last week following better-than-expected US growth figures and some punch earnings reports.

The region was without usual bellwether Japan, with markets there closed until May 6 in a holiday break which sees the traditional ‘Golden Week’ celebration augmented by further days off to mark the abdication of Emperor Akahito which will take place on Tuesday.

Hong Kong’s Hang Seng caught the US tailwind and rose 0.7% as its close approached. Mainland markets struggled, with Shanghai down 0.1%- analysts are reportedly getting a little worried about stretched valuations there. Australia’s ASX 200 retreated modestly from last week’s eleven-year highs but seems to be largely retaining its composure into a week which will see the release of important domestic bank results.

Currency markets were even more obviously becalmed without Tokyo. Regional traders seemed highly reluctant to push matters too far without that city’s participation, especially during a week which will offer a monetary policy decision from the Federal Reserve and important US labor market statistics. The US Dollar was barely changed against a basket of major traded rivals.

USD/JPY remains, just, within the daily chart range derived from its former previous peaks, those of late February and early March.

US Dollar Vs Japanese Yen, Daily Chart

This pair is likely to be especially volatile until Japanese markets return to full-steam, and appears to be in the process of retesting that range base.

Crude oil prices slipped back after a Tweet from Donald Trump urging OPEC to increase production and offset the effects of sanctions against Iran. Gold prices rose to one week-highs last week on signs of softer US inflation but retreated a little through the Asian session.

Monday’s main scheduled economic data event is still to come in the form of March personal consumption and expenditure figures out of the US but they’re note quite alone on the schedule. The Dallas Federal Reserve’s manufacturing snapshot is also coming up, and the markets will also hear from Bank of England Governor Mark Carney. He’s due to speak in London.

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.