Asian markets started off this week with a mixed Monday. All eyes are trained on the Fed meeting on Wednesday, when rates are expected to be hiked by 25bps, which is now fully priced in; investors are concerned about the Fed’s commentary and tone. Markets are evidently in a risk off mode, with bonds, and the yen making gains.
Nikkei took a beating, trading almost a percent lower, following gains in the Yen. It wasn’t supported by the fact that polls showed a sharp drop in PM Shinzo Abe’s popularity. Chinese equities have been trading higher today, although technology and real estate have dragged.
A slowdown in home price growth has been interpreted as a sign of a weakening real estate market. ASX continues to be held back by banks, who have not seen a good day since the government launched its inquiry for potential fraud.
The dollar was seen trading higher against major pairs, barring the JPY, given its standing as a safe haven currency. Gold continues to be negatively affected by the prospect of a rate hike, given that it is non – yielding.
Monday, March 19, 2018
Tuesday, March 20, 2018
Wednesday, March 21, 2018
Thursday, March 22, 2018
Friday, March 23, 2018
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