Asian shares traded in green as Europe slowly plunges

28 September, 2016

US Dollar can’t get out of the range of 95.00-95.50 after the FED has investors waiting for the results of Algiers meeting, where Oil officials will try to work out measures to level energy market volatility. The emerging markets retreat following the Oil market as a part of a safety precaution ahead of the uncertain meeting outcome. The Russian RTS extends its losing streak for the third day in a row sinking 0.79%; the Brazil Bovespa drops 1.10%. On top of that the European equities sunk along with the American shares.

Unlike the rest of the world, Asian shares traded in green with CSI 300 rising by 0.64%, which was fueled by the industrial profits report beating the forecast (19.5% vs. 11.0% exp.). Nikkei 225 gained 0.84%, IDX Composite index rose 1.26%, Korean Kospi added closed 0.77% higher.

Gold investors also took a passive stance with the asset ranging from the $1,336-1346 band.

On the bond market, yields on German 10-YR government bonds plunged by 32% to a deep negative of -0.143, the lowest level since the start of July. Bond yields of Austrian, Belgian and Dutch also fell significantly pointing towards a growing risk-aversion on the markets.

On the currency markets, the EUR/USD trades were nearly unchanged while the GBP/USD dives deeper, weighing down on sterling. Japanese Yen remain strong, although USD/JPY pair shows limited gains due to the bullish outlook for the Japanese currency. Aussie claws some gains due to a relative Dollar weakness. The Swiss Franc trades nearly flat against its American peer.

Crude prices fell ahead of the Algiers event as the data given by the crude inventories is not great. WTI drops 0.98% to 45.57 while Brent loses trades -1.21% lower at 47.36 as of 9:54 GMT.

Source link  
The outsider on the Forex market

The Greenback has certainly taken all chances to become an outsider on the Forex market this week...

Chinese stocks are posting biggest gains

The Chinese stock market closed on a positive territory, posting the biggest gain since the end of November 2016...

NFP will leave a long-lasting impression

The Australian regulator is riven by contradictions. On the one hand, the economy requires lower rates...

Australian Dollar is waiting on the down-low

The Asian stock market began the week with an advance, in anticipation...

Euro under pressure

The European currency extended its fall after the ECB official, Yves Mersch, denied speculations about QE tapering, making it clear that the regulator is not yet going to change its dovish views...

Oil prices rise amid speculation on OPEC agreement

Oil prices are trading in positive territory on Tuesday, after the Iranian Oil Minister...

Another currency to climb the peak

The comments of the FED officials Erik Rosengren and Loretta Mester...

Pound trades look risky

The British Pound rose above the level of 1.24 after the Bank of England decision last week...

Go short!

When it comes to the EUR/USD pair, then we have a descending channel on the weekly chart...

In the past 24 hours Bitcoin has gained 4.48% and reached $6762.11. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.9545% and is now at $1.164. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 1.17% and is now at $537.029. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Daily Forex Market Reviews

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
4FIBO GroupFIBO Group80%
9FP MarketsFP Markets70%