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
Mixed
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Bullish
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
Bitcoin
Mixed
More View more
Real Time News
  • The $JPY is overwhelmingly in the grip of fundamental and macro action, but $USDJPY charts show the pair in a fascinating spot. Get your market update from @DavidCottleFX here:https://t.co/nD8RuyzvGG https://t.co/aIKgiiuv0v
  • European Opening Calls from IG: #FTSE 7211 -0.02% #DAX 12692 -0.49% #CAC 5623 -0.61% #MIB 22398 -0.40% #IBEX 9331 -0.53% #STOXX 3585 -0.54% #SA40 49454 -0.31%
  • JPY Japan Sep Nationwide Department Store Sales YY: Actual: 23.1% Previous: 2.3% Tokyo Department Store Sales: Actual: 20.7% Previous: 4.7% Retail demand has clearly picked up ahead of planned sales tax hike
  • Trump Policies Invite Inflation But Gold Prices May Fall Anyway - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/10/23/Trump-Policies-Invite-Inflation-But-Gold-Prices-May-Fall-Anyway.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #gold #XAUUSD #Trump
  • As China’s growth slows, the currency of the other Asian titan ought to be burnished as investors look for opportunities elsewhere. However, that’ s not happening. Get your market update from @DavidCottleFX here: https://t.co/ETBCpBDSS7 https://t.co/XA4p4pJMjz
  • Market Snapshot: Asia Pacific equities trade cautiously lower, extending losses from Tuesday's Wall Street session amid #Brexit woes. Pro-risk Australian and New Zealand Dollars lower as the anti-risk Japanese Yen and haven-linked US Dollar climb #USD #Yen
  • $USDMYR rose as #Malaysian CPI clocked in at 1.1% y/y versus 1.3% expected. Most of the Ringgit's weakness was already delivered as risk trends soured in APAC trade. #USD rose as #Nikkei225 futures fell, reacting to the latest #Brexit drama (as expected) - https://t.co/vtMaQur9Rr https://t.co/uZumSqSFWO
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.94%, while traders in Germany 30 are at opposite extremes with 77.96%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/c9YDTgwiOp
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.18% 🇨🇭CHF: -0.03% 🇪🇺EUR: -0.05% 🇬🇧GBP: -0.17% 🇳🇿NZD: -0.20% 🇦🇺AUD: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/iw4jyVH1GO
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.18% US 500: -0.28% France 40: -0.75% Germany 30: -0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bRx6YViuFL
Asian Stocks Trade Narrow, Mixed As Fed Powell's Testimony Looms

Asian Stocks Trade Narrow, Mixed As Fed Powell's Testimony Looms

2019-07-10 04:56:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Stock markets didn’t move far as the Fed Chair’s latest economic take was awaited
  • The US Dollar made modest gains, suggesting he’s not expected to be too dovish
  • Chinese consumer price inflation rose as expected in June

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

Asia Pacific stocks put in a mixed but perhaps predictably subdued performance Wednesday ahead of attention-grabbing testimony to Congress from the Federal Reserve Chair.

Such occasions are always big for markets, of course, but Jerome Powell’s audience with the House Financial Services Committee comes at a fascinating juncture. Markets had been pretty sure that US interest rates were headed substantially lower. However last week’s surprisingly strong showing from the labor market has holed that thesis, if not completely sunk it.

There was mixed news on trade. On the upside, top US officials have spoken with their Chinese counterparts, so there’s some hope that stalled talks can be restarted properly. However, local news was less reassuring. Reuters reported that South Korea’s President had said that Japan’s export curbs on key materials used by technology firms in his country may be prolonged, and that government will boost spending to help reduce reliance on Japan.

On the data front, China’s consumer price inflation rose as expected, but factory gate prices weakened, ratcheting up the pain on manufacturers.

The Nikkei 225 was down just 0.04% in the middle of the Tokyo afternoon, with the Shanghai Composite of by even less. Shares in Hong Kong, Australia and South Korea were higher, with the Kospi leading on gains of 0.8%.

The US Dollar edged up and Treasury yields made gains, suggesting that the markets think Mr. Powell won’t be too dovish later. USD/JPY is flirting with an upside break of its current broad, daily chart range, and may top it comfortably if Wednesday’s testimony sees rate-cut bets pared even more.

US Dollar Vs Japanese Yen, Daily Chart

Crude oil prices managed gains despite worries about global growth and demand, as the market responded to Tuesday’s news of a bigger-than-expected drawdown in US inventories.

Asian Stocks 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.