Asia pacific equity markets posted gains on Tuesday rallying to their highest in a decade following U.S. stocks closing at record levels on Monday. The US dollar slipped and bonds advanced as President Donald Trump tried to tackle trade on his Asia tour. A crackdown on corruption in Saudi Arabia sent oil soaring to its highest price in more than two years.
USDJPY is currently seen trading around 113.95 down from session lows of under 113.70. Overall the dollar added 0.2 percent against the yen on Tuesday but remained well below its eight-month high of 114.737 marked in the previous session. Backed by fresh foreign inflows, Japan's Nikkei 225 jumped 1.75 percent, touching its highest levels in 26 years earlier in the session
EURUSD was barely changed on Tuesday trading steadily within a 15 pip range. The EUR is currently valued at 1.1607 against the US Dollar. The lack of clarity on the progress of U.S. tax reform as well as leadership at the U.S. central bank clouded the dollar’s outlook. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 94.78. The yield on 10-year Treasuries declined two basis point to 2.316 percent, the lowest in more than two weeks.
AUDUSD climbed to highs of 0.7700 earlier in the session but quickly dropped down to current levels of 0.7680. Overall the AUD gained 0.5 percent against the US Dollar. Australia’s central bank held rates at record lows for a 14th straight policy meeting on Tuesday as expected. Australia’s 10-year yield rose one basis point to 2.58 percent. NZDUSD is currently seen trading around 0.6930, the Kiwi had jumped as much as 0.7 percent on Monday against the USD.
IC Markets is revolutionizing on-line forex trading; on-line traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals.