Asia pacific equity markets rose on Wednesday following record highs in Wall street overnight as investors seem energized by the outlook for profits and tax reform. Technology shares were seen fuelling the gains worldwide. Hong Kong’s Hang Seng Index breached the 30,000 level to climb to the highest in a decade before slipping back. Meanwhile, oil prices jumped on expectations of a production cut.
USDJPY slid close to 50 pips on Wednesday, as the JPY gained over 0.2 percent against the US Dollar. Currently the pair is seen trading around 112.150. Japan's Nikkei 225 gained 0.58 percent in afternoon trade. The Nikkei’s advance came despite the U.S. dollar losing strength during Asian trading.
EURUSD is net unchanged seen trading steadily around 1.1745. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 93.89. The yield on 10-year Treasuries was steady at 2.35 percent. GBPUSD had a similar price action, the pound remains mostly unchanged and is seen trading around 1.3257 against the US Dollar. Gold was steady around $1,283.0 an ounce.
AUDUSD had quite an active session early on Wednesday, the Aussie fell as low as 0.7562 against the US Dollar from earlier session highs of 0.7595 which it had reached on back of strong on Construction Work Done for Q3. Overall the Australian dollar is down 0.2 percent against the USD. Australia’s 10-year yield fell two basis points to 2.52 percent. The New Zealand dollar is currently seen trading around 0.6830 down from session highs of 0.6853.
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.