Forex Marketz Daily Forex News – Fully Markets Update
The Asian markets in Japan, China and South Korea drifted higher during today’s Asian trade session. The Asian and Pacific Rim markets in Australia, Hong Kong, Singapore and Indonesia were closed for a public holiday.
The gains in Asia follow an overnight close on Wall Street that saw the benchmarks close higher thanks to corporate earnings and economic data that brightened trader sentiment. The U.S. markets, as well as the European financial markets will be closed today for the Good Friday Holiday. They reopen after Easter Sunday.
The Nikkei 225 was up 0.66 percent thanks to tech plays. Shares of Nintendo rose 15.25 percent. The broader Topix index in Tokyo rose 0.30 percent.
The South Korean benchmark, the Kospi composite index was up 0.3 percent by the afternoon session.
Asian Markets in China Gain Ground
The mainland markets, in China, were up. The Shanghai composite added 0.7 percent and the smaller Shenzhen composite added 0.38 percent.
In the Forex market, the dollar index, which measures the dollar in a basket against six other Forex majors, was trading at 97.375. This is up from 96.90 seen at the open of the week.
The benchmark USD/JPY Forex market was trading at 111.92 as the yen weakened further. This market, at the open of the week, was trading at near 111.20.
As a new week opens, trader sentiment should continue to improve as the United States and China appear ready to sign a new trade accord. This would end their contentious trade war that has riled the global markets. However, there seems to be a new trade war front opening between the United States and the European Union. The Trump Administration is upset over subsidies the European Union is giving to Airbus. The U.S. says they have a list of EU area goods ready for tariffs. The EU says they will respond in kind against U.S. goods including Boeing.
