Markets Daily: Asian Stocks Set to Dip as Traders Mull Policy Outlook

Equity futures were little changed in Hong Kong but lower in Japan and Australia. The Nasdaq climbed 0.1% to a record high backed by a strong rally in Tesla. While the Dow Jones index and S&P 500 each lost by 0.2% and 0.1% respectively. Asian stocks are set to open lower as traders digested commentary from Federal Reserve officials on the outlook for stimulus.

Treasury yields fell on Tuesday. US 10-year yields rose by 2 points to 1.49% and short-term US 2-year yields rose by 1 point to near 0.26%. 

Forex trading saw little changed against other major currencies. According to ZERO Markets’ Meta Trader 5 platform, the Euro rose from lows near $1.1915 to highs near $1.1970 against the dollar. The Aussie dollar rose from lows near $0.754 to highs around $0.76 against the dollar at US close. 

Commodity trading saw crude oil prices lifted by 0.5% on Wednesday, hovering near 2-year highs. Brent crude fell by 0.5% to near $US75.2 a barrel. WIT gained 0.3% to near $US73.08 a barrel.

Iron ore prices jumped 1.8% to near $216.6 a tonne. Precious metals trading saw gold rose 0.3% to near US$1783.4 an ounce.

Key events this week (Economic Calendar):

  • Bank of England rate decision (Thursday)
  • US Personal Income Spending (Friday)

Zero Markets provide a variety of account types suitable for all types of traders including ECN Account (Super Zero Account), Standard Account, Islamic Account, PAM/MAM, and Pro Trader Account. Start trading with the best-regulated CFD broker – Zero Markets. Enjoy competitive pricing and tight spreads starting from 0.0 pips across more than 60 tradable instruments.

Leave a Reply

Your email address will not be published.