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
Bearish
GBP/USD
Bearish
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
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Your psychology has a significant impact on the decisions you make, particularly if you are new to trading. How can you avoid your emotions from turning you into a #FOMO trader? Find out: https://t.co/FC7CHpk9vA #FOMOintrading https://t.co/WSDr3JkpAG
  • $AUDUSD: Short-term support could lead-in to a quick bounce up to resistance as taken from another prior support level, plotted around the .6830 level on the chart. Get your market update from @JStanleyFX here: https://t.co/tUoe1Roo5t https://t.co/omaDxGNhZU
  • Central bank independence has several advantages. Find out what they are in detail with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/cQQmuH8biQ
  • The US Dollar remains in consolidation mode against the Philippine Peso and Indian Rupee. Will the Singapore Dollar weaken as $USDSGD rising support holds ahead? Find out from @ddubrovskyFX here: https://t.co/HZ8Loqj3Ey https://t.co/6PCFkdj3ka
  • Follow @DailyFXedu for your regular #webinar updates with @DailyFX analysts and catch up on the webinars you missed. https://t.co/Da10QUg9r1
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/Le8Qx6OOwV
  • $GBPUSD at the moment break-even straddles = 152pips meaning that for option traders to realize gains, the spot price must see a move greater than 152pips. Get your market update from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/RXCBwHGluG
  • $EURGBP has fallen over 6% since August and is now rapidly approaching a critical support level not reached since May. Will a break below accelerate the aggressive selloff? Find out from @ZabelinDimitri here: https://t.co/CBM8Fg7vM0 https://t.co/0yDnEpzQqR
  • The #Euro is struggling for direction against the US Dollar but the near-term downtrend guiding it lower since late June remains firmly intact. Where is $EURUSD heading? Get your technical analysis from @IlyaSpivak here: https://t.co/us6AINmuoe https://t.co/J4hQtyprYf
  • $DXY & $SPX500 hold steady after #FED rate cut. Get your update from @JohnKicklighter here: https://t.co/vqXlKCMDYA
Stocks Gain. US-China Trade Truce Sees 'Goodwill Gestures' From Both

Stocks Gain. US-China Trade Truce Sees 'Goodwill Gestures' From Both

2019-09-12 04:57:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Equity indexes were broadly in the green as the tone between Beijing and Washington continued to mellow
  • Hong Kong was an exception with corporate news weighing
  • The European Central Bank’s policy decision is in focus now

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

Asia Pacific stock markets were mostly higher as Thursday’s afternoon got under way. Further signs that the trade ice is melting between Washington and Beijing keeping risk appetite well supported.

US President Donald Trump tweeted on Wednesday that a tariff increase on $250 billion of Chinese goods due to take effect on October 1 will now be delayed until October 15 as a ‘gesture of goodwill.’ Such gestures appeared contagious as China for its part again said that it would consider buying more US farm imports on the same basis.

Sure enough, the Nikkei 225 was up by 1% with Shanghai 0.3% higher. Stocks in Hong Kong were the main exception. There the Hang Seng was down by 0.2%., with individual corporate stories rather more to the fore.

Hong Kong Exchanges and Clearing slipped following its bid for the London Stock Exchange Group. Brewing giant Anheuser-Busch InBev said on Thursday that it was continuing to explore a Budweiser Initial Public Offering in Hong Kong, two months after saying a planned listing would be shelved.

The ASX 200 was up by 0.3% with all sectors seeing gains, if usually only modest ones. The bellwether banking sector was well-supported. Of the ‘Big Four’ lenders both Westpac and National Australia Bank both saw their stocks hit 52-week highs in the morning session. Commonwealth Bank and the Australia and New Zealand Banking Group aren’t far off theirs.

Foreign exchange markets also saw clear evidence that investors were comfortable with a little more risk. Perceived havens such as the Japanese Yen remained unwanted while more growth sensitive units such as the Australian Dollar made gains. Gold was also lower while crude oil prices made gains.

US Crude, Daiy Chart

US crude spot prices are in a quite well-respected uptrend, The peak of July 31 still look to be providing tough daily-chart resistance to further gains but a retest looks very likely, probably quite soon, for as long as risk appetite remains robust.

This market’s major focus for the remainder of the session will probably on the European Central Bank. It will set monetary policy on Thursday. A commitment to accommodative settings is very widely expected in the market.

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!

provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.