Equity markets across the Asia-Pacific region opened higher on Tuesday tracking record closes on Wall Street backed by Strong factory data & the prospect for American tax cuts boosting confidence. The Upbeat economic data lifted the dollar emboldening bulls who drove U.S. equities to fresh record highs. However weaker oil prices took their toll on some market segments.
USDJPY was seen trading higher as the USD managed to add a few points in the session. Price is currently seen trading at 113.10 as the Yen lost 0.3 percent against the US Dollar. The exporter stocks benefited from the weaker yen as the Nikkei Stock Average NIKKEI 225 was up 0.8%
EURUSD is currently seen trading at 1.1704 as the Euro lost 0.2 percent against the US Dollar, losing over 40 points from the session highs managing to hold just above the round number 1.1700 where Price is currently seen ranging. The dollar index, which tracks the dollar against a basket of currencies rose 0.3 percent and is currently valued at 93.85.
AUDUSD dropped to lows of around 0.7790 as the Aussie dollar lost over 30 points on the session as the Reserve Bank of Australia announced no change to cash rate, as expected. Australian shares also opened in red, slipping 0.6 percent, pressured by consumer and energy shares.Currently the AUD is seen trading around the round number 0.7800. The New Zealand dollar fell to fresh session lows of 0.7158 along with the AUD and is currently seen trading at 0.7168 after recovering partially.
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