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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • #2020election polls continue to show Democratic nominee Joe Biden maintaining a strong lead #Trump Supreme Court nomination may throw a wrench into bipartisan stimulus talks #AUDUSD is trading at former resistance-turned-support. What happens if it breaks? https://www.dailyfx.com/forex/fundamental/article/special_report/2020/09/27/AUDUSD-Analysis-Ahead-of-Presidential-Debate-Supreme-Court-Nominee-Battle-.html
  • USD/MXN pushes higher as a long-awaited correction in the US Dollar gets underway. Get your #currencies update from @HathornSabin here: https://t.co/QMpun4KOgO https://t.co/KAYojshy0P
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/KXMefr6a3r
  • Join analyst @DavidJSong at 6:30 PM ET/10:30 PM GMT for your weekly update on key news trading events. Register here: https://t.co/gBlrRpCc55 https://t.co/5FwNLSVYje
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EDT on DailyFX! https://t.co/lxd5fZnn4H
  • EUR/USD fell sharply last week and there are few signs yet that the selling is over. However, a bounce is likely before the decline resumes. Get your #currencies update from @MartinSEssex here: https://t.co/BxglKuKVhj https://t.co/8nJQXhUTHI
  • The week ahead has many systemic issues that take control of the markets, but scheduled data is heavily skewed to the Dollar. Here is my video for the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2020/09/26/SP-500-Break-Risk-and-Dollar-Charge-Sees-Accelerants-Next-Week.html?ref-author=Kicklighter&QPID=917719&CHID=9?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/PL3KZhn1HV
  • GBP turbulence persists as investors eye the next round of EU-UK Brexit negotiations. Cautious optimism signals a deal is near. Get your #currencies update from @PaulRobinsonFX here: https://t.co/WjU4oYpmf7 https://t.co/QJp3jpS3Ui
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/ukvZfr6BXf
  • BoE’s Tenreyro says evidence on negative rates are “encouraging” Meanwhile, STOXX Europe Banks Index resides at all time lows https://t.co/bBYcLrtXhj
US-China Trade War Thaw Hopes Boost APAC Stocks

US-China Trade War Thaw Hopes Boost APAC Stocks

2019-07-24 04:38:00
David Cottle, Analyst
Share:

APAC Stocks, Talking Points:

  • There was plenty of green on Asia Pacific stock screens
  • Reports that US trade envoys will head back to China shortly helped
  • Tension between Japan and South Korea remains a problem though

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

Wednesday provided Asia Pacific equity investors with a generally positive backdrop and most indexes were duly higher.

A Bloomberg report released in US houses the day before said that senior US officials would be flying back to Beijing early next week for face-to-face trade talks with their Chinese opposite numbers. This news took Wall Street back close to record highs. Asian stocks also benefitted from enduring hopes that monetary policy could be loosened in both the Eurozone and US. The Federal Reserve is expected to cut interest rates on July 31. The European Central Bank meets earlier, on Thursday and, while loosening is not forecast, it may well flag up the strong likelihood of more accommodation ahead.

Given both those stories it should be no surprise that Asian stocks were higher. The Nikkei added 0.5%, Shanghai 1% and Hong Kong’s Hang Seng 0.9%. South Korea’s Kospi remained under a bit of pressure however.

Apple supplier LG Display slipped on news of a larger-than expected second quarter operating loss. The company also said it wanted to broaden its own supplier base in view of ongoing trade tensions with Japan.

Banks Boost ASX

Australia’s ASX 200 was up 0.7% as its close loomed. Banks led the way with solid gains for the ‘big four.’ Some gold miners did less well despite a rather constructive global gold price picture. St. Barbara’s shares fell with investors possibly disappointed with output guidance. Regis Resources also slipped again, with broker downgrades likely to blame.

European Currencies Feel the Heat

The Euro and British Pound were both lower as markets eyed both the upcoming ECB meeting and the election of Boris Johnson as leader of the governing Conservative Party. Johnson campaigned in staunch rhetoric, promising to take the United Kingdom out of the European Union by October 31 ‘come what may.’ It remains to be seen how this will be achieved given the mired Parliamentary mathematics.

GBPUSD remains in a clearly accelerating daily chart downtrend, but the advent of ‘Boris’ was very well flagged and the markets have not so far been minded to take the pair back down as far as its post-Brexit-referendum lows.

British Pound VS US Dollar Daily Chart

They are quite close thoughnow, in the $1.23 region.

The rest of the session offers a plethora of Purchasing Managers Index data from across Europe and the US, but they may need to seriously diverge from expectations to have much impact against the current busy backdrop.

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