Asia-Pacific equity markets opened higher on Monday in spite of few major markets in the region being shut for holidays, the optimism was backed by surprisingly strong economic news out of China and Japan in addition to the broadly upbeat sentiment and gains in the U.S. dollar. However, the euro took a knock in Asia on Monday as investors kept an anxious eye on an independence vote in Spain’s Catalonia
USDJPY is currently seen Trading at 112.83 as the Yen was marginally weak against the US Dollar earlier on Monday. Propelled by the weaker Yen, Japan’s Nikkei Stock Average Nikkei 225 was up 0.15%. The gains in Asian Markets were in line with analysts’ bullish expectations for the fourth quarter amid ample market liquidity.
EURUSD had a very active session early on Monday with Euro dropping to lows around 1.1780 against the USD in the NZ session before retracing to around 1.1815 only to drop again over 50 pips in value once Asian liquidity came in, currently the pair is seen trading around 1.1775. The dollar index, which tracks the greenback against a basket of six major currencies, added 0.3 percent and is currently valued at 93.33.
AUDUSD is currently seen Trading at 0.7824 down from its session highs of around 0.7850. Notably, Australia’s main index S&P/ASX 200 was up earlier jumping 1.1% percent helping support export stocks as the Australian Dollar was weak against the US Dollar. Likewise, The New Zealand Dollar dropped from its session highs of 0.7225 and is currently seen trading closer to it’s opening price of around 0.7200 against the US Dollar.
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