Forex Marketz Daily Forex News – Fully Markets Update
Asian markets were mixed today despite a record breaking day on Wall Street overnight. Asian Investors are waiting on the interest rate and monetary policy decision from the Reserve Bank of Australia (RBA). The decision is due at 2:30 pm local time.
Japan’s Nikkei 225 rose 0.78 percent to 20,560.05 and the broader Topix index, in Tokyo, climbed 0.46 percent to 1,681.48.
Hong Kong’s Hang Seng index resumed trading on today. Financial markets in China were closed for a holiday on Monday. The Hang Sang index gained 1.71 percent to 28,026.25 by the midmorning.
In Australia, the ASX 200 reopened, it too was closed yesterday for a holiday, and fell 0.35 percent to 5,709.10 by the late morning. The Australian dollar was at $0.7827. Which was flat compared to Friday.
Asian Investors wait on the RBA
Traders are looking ahead to the monetary policy decision from the Reserve Bank of Australia due later in the day.
Traders will also be focusing on what then RBA statement says about the economy. They will be looking for any change to their language on the Australian dollar.
The part of their original statement on their local currency could be changed. If only to refresh it for the recent decline with the AUD. The central bank will continue to acknowledge the improvement their baseline economy. This should signal that the RBA has more confidence that economic growth is getting stronger.
Financial markets in South Korea and mainland China are still closed due for public holidays.
Looking at the Forex markets, this morning, the US dollar index, which measures the greenback against a basket of currencies, was at 93.853. This was up from 92.50 last week.
Looking at other Forex classes, the USD/JPY was at 113.10. It weakened from 112.63, seen earlier in the session. The euro was at $1.1708. This was down from yesterday’s high at $1.1740.
