Asia pacific equity markets continued their decline on Wednesday following the Weakness overnight in Europe and the U.S. investors continued to assess October’s surge and commodity prices fell further amid signs of an oversupply. Investors also remained sceptical over the uncertainty about U.S. tax reform
USDJPY is currently seen trading around 113.15 down from session highs of around 11.50, overall the Yen gained over 0.2 percent against the US Dollar. The Nikkei Stock Average is down 1.5% and is now facing a sixth straight decline, something it hasn’t done since May 2016. Factors behind today’s drop included a stronger yen and fresh weakness in oil prices
EURUSD maintained a very small range early on Wednesday around 1.1794 after the EUR surged 1.1 percent against the US Dollar on strong growth in Germany and Italy. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 93.82 after touching the lowest in almost three weeks on Tuesday. The yield on 10-year Treasuries fell more than one basis point to 2.36 percent, extending a drop on Tuesday.
AUDUSD saw some action today as the AUD dropped close to 0.7 percent against the USD falling to lows of 0.7575 as the index of wage prices rose less than expected in the third quarter. Currently the AUDUSD is seen trading around 0.7590. Australia’s 10-year yield slid more than six basis points to 2.59 percent after the wages data. Meanwhile, the Kiwi had a rather quiet session and is currently seen trading around 0.6870 against the US Dollar.
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.