Asia-Pacific equity markets were mixed in Thursday trade following a global stock pullback with most markets down overnight in Europe and the U.S. pausing what has been a big month of gains for many indexes. The Wall street had its biggest declines in seven weeks. Investors remained on the side-lines awaiting the biggest scheduled event for markets this week- ECB policy meeting & U.S. economic reports.
USDJPY is seen trading around 113.50 down from yesterday’s highs of 114.25, which also was the 3 month high for the greenback as the Yen climbed 0.2 percent against the US Dollar. The Nikkei 225 rebounded and edged up 0.20 percent on Thursday. The benchmark index had snapped its 16-day win streak on Wednesday, after closing lower by 0.45 percent at 21,707.62.
EURUSD added to overnight gains and is currently seen trading at 1.1830 reaching a six-day high after the EUR climbed 0.4 percent against the USD on Wednesday. The rise by the euro was prompted by expectations the ECB would cut back its bond-buying stimulus. The dollar index, which tracks the dollar against a basket of currencies lost 0.2 percent and is currently valued at 93.55
AUDUSD is currently seen trading above 0.7700 down from its lows of 0.76900 as the Aussie dollar benefitted from the softer USD. The AUD was slightly up early on Thursday in spite of slightly weaker commodity prices on China exchanges today. Australia’s 10-year bond yield rose 1 basis point to 2.77 percent. NZDUSD is currently seen trading around 0.6890 as the kiwi managed to move up from lows of 0.6860 in yesterday’s NY session on back of a weaker US Dollar.
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