Asia pacific equity markets were mixed early on Friday following the lack of movement in most U.S stocks overnight and as investors assessed the latest news on U.S. tax-cut plans and looked ahead to Friday’s American jobs report. President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the U.S. central bank. Australian stocks stood out, hitting fresh 2017 highs on gains in commodity prices.
USDJPY dropped around 20 points lower and is currently seen trading around 114.00 as the Yen gained 0.1 percent against the US Dollar. Overall the USDJPY had a rather quiet session as the Markets in Japan are closed for Culture Day keeping the volumes light.
EURUSD was seen trading flat at 1.1660. The dollar index, which tracks the dollar against a basket of currencies was little changed and is currently valued at 94.66. The yield on 10-year Treasuries fell two basis points Thursday, to 2.35 percent. The pound lost over 1.4 percent against the USD and is currently seen trading at 1.3071 Suffering its largest single day slide since October last year as the Bank of England hiked rates for the first time in a decade.
AUDUSD lost big today following a very poor retail sales data. Currently the AUD is seen trading at 0.7688 after losing 0.4 percent against the US Dollar. Australia’s 10-year yield decreased more than seven basis points to 2.58 percent. The NZDUSD had a better session today gaining close to 30 pips, currently the Kiwi is seen trading above 0.6930.
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.