Asia-Pacific equity markets were mostly higher early on Monday with the end-of-week rally in key U.S. stocks boosting gains in technology stocks across the region. However, Shanghai Composite Index tumbled the most this year on an intraday basis as the nation’s bond slump deepened. Meanwhile, political developments in Spain continued to weigh on the euro and oil hovered around a 2-year peak on supply fears.
USDJPY is currently seen trading a few points weaker around 113.60 as the Yen rose 0.1 percent against the US Dollar after the pair initially popping over 113.80 early in Tokyo session. The Nikkei 225 edged down 0.19 percent as trading houses and financial stocks declined. Tech shares were mixed. Japan retail sales for September increased 2.2 percent compared with one year ago, government data showed.
EURUSD had a rather quiet session early on Monday. Currently the EUR is seen trading around 1.1615 against the US Dollar rising from early lows of 1.1595. Overall, the political uncertainty in Europe and the European Central Bank’s decision to extend its stimulus further weighed on the common currency, marking its biggest weekly loss of the year. The dollar index, which tracks the dollar against a basket of currencies was down 0.1% and is currently valued at 94.76
AUDUSD opened on a slightly positive note currently seen trading around 0.7676 up from its Friday’s lows of 0.7625. Australia’s 10-year yield declined five basis points to 2.72 percent in Monday trading. On the other hand, the NewZealand dollar fell 0.5 percent against the USD following the comments from country’s new finance minister, Grant Robertson. The Kiwi is currently seen trading around 0.6842
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