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.

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
Subscribe
Please try again
More View more
Real Time News
  • The US Dollar could lose some ground against ASEAN currencies such as the Singapore Dollar and Thai Baht amid slowing Emerging Asia Covid case growth. Softer US NFPs may also bode well.Get your market update from @ddubrovskyFX here:https://t.co/jnJ80hQR4P https://t.co/n8UXm0mUeb
  • This week's non-farm payrolls (NFP) will likely be key to gauge the direction of gold as markets look ahead to the Jackson Hole Economic Symposium. Get your market update from @FxWestwater here:https://t.co/WmTrqe0xJN https://t.co/BO2uwXMAko
  • Will be discussing the Japanese #Yen and what you can expect throughout this week in about 15min! Signup for the webinar in the link below! https://t.co/Jbtd2hc5nU
  • Please join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here: https://t.co/AzOQioRZER https://t.co/uy1tAhiwGY
  • RT @FxWestwater: $NZDUSD Wedge Breakout Back in Play on Stellar Q2 Jobs Report Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/08/03/NZDUSD-Wedge-Breakout-Back-in-Play-on-Stellar-Q2-Jobs-Report.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/YAIqqu5RDB
  • 🇦🇺 Markit Services PMI Final (JUL) Actual: 44.2 Previous: 56.8 https://www.dailyfx.com/economic-calendar#2021-08-03
  • $AUDNZD likely to attempt closing at a new 2021 low over the remaining 24 hours following the stellar New Zealand jobs report The December 2020 low has been further exposed at 1.0418 since July's #RBNZ rate decision New Zealand bond yields on the rise https://t.co/ipjwkSNt9n https://t.co/ncQX4hL8G3
  • Strong jobs report lifts $NZD - Money markets pricing in a 93% probability of a 25bps hike at the August meeting (previously 77%) - Over the forecast horizon, the RBNZ had projected (in the May MPS) the unemployment rate to gradually fall to 4.3% https://t.co/G5Ejzl2H6L
  • #NZDUSD cautiously higher after solid New Zealand jobs report Unemployment rate declined to 4.0% in Q2 from 4.7% prior (vs 4.4% anticipated) Job gains were at 1.7% y/y vs 1.2% expected Data seems to be supporting the case for a less-dovish #RBNZ given the cease to QE recently https://t.co/XmzhuLXh1H
  • 🇳🇿 Unemployment Rate (Q2) Actual: 4% Expected: 4.5% Previous: 4.7% https://www.dailyfx.com/economic-calendar#2021-08-03
Stocks Battered Across Board As US-China Trade War Intensifies

Stocks Battered Across Board As US-China Trade War Intensifies

David Cottle, Analyst

APAC Stocks Talking Points:

  • Stocks were broadly lower Monday
  • The threat of yet more US tariffs on Chinese imports saw to that
  • Gold and the Yen were both in vogue

Join our analysts for live, interactive coverage of all major economic data at the DailyFX Webinars. We’d love to have you along.

Asia Pacific stock markets were all lower Monday, unsurprisingly perhaps given the weekend’s increase in trade tensions between China and the United States.

Donald Trump tweeted at the end of last week that the US will increase tariffs hundreds of billions of dollars’ worth of Chinese imports. At the Group of Seven summit over the weekend in France, Trump evinced regret that higher barriers weren’t going up, adding that he could declare the trade war a national emergency.

Given all that, it was hardly surprising that ‘risk assets’ such as stocks and commodity currencies should struggle and they all duly did. The Nikkei 225 was down 2% in the Tokyo afternoon, with the Shanghai Composite down 1%. Australia’s ASX 200 shed 1.4% Australia’s big banks came under pressure, possibly thanks to the idea that record-low rates are likely to head lower unless the global economy picks up. Gold miners were predictably well-bid though.

Hong Kong’s Hang Seng led the way lower after another weekend of violent protests against Beijing in the territory. The index was down nearly 3% at lunchtime.

The Japanese Yen appeared to revel in its haven role, making clear gains on the US Dollar as well as the Australian and New Zealand versions. The offshore Chinese Yuan slipped to a record low against the Greenback of 7.1619. With London out for a holiday Monday, foreign exchange action could be muted as the session goes on.

The Yen was far from the only haven asset in vogue. Gold prices climbed to a new 2019 peak.

Spot Gold, Montly Chart

Indeed, spot gold is now up to peaks not seen since April 2013, with the highs of that year, $1,675, back in focus for the bulls.

APAC 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