Forex Marketz Daily Forex News – Fully Markets Update
This morning, markets in Asia and the Pacific Rim were mixed after US financial markets had small gains overnight. There was a drop in oil prices as well as ongoing jitters over Thursday’s Brexit vote in the United Kingdom whether or not to leave the European Union.
In The Down Under, the Australian S&P ASX 200 was up modestly in early morning trade as energy and financial sub-indexes showed gains. In Japan the Nikkei 225 was down over one percent while the South Korean bourse was up. In Hong Kong, stocks were down while mainland Chinese stock exchanges were trading virtually flat for the day.
Oil and Brexit Weigh on Sentiment
Overnight the price of WTI Brent fell, thanks to profit taking before the options expired. Brent closed down three cents to $50.62 per barrel. US WTI crude fell one percent to $48.65 per barrel during US trading hours overnight. Both contracts expired overnight. This morning, during Asian hours both new August contracts were up as trading began.
Yesterday, during her testimony to the United States Congress, Federal Reserve Chair Janet Yellen said that the looming UK vote to leave the UK could have serious economic repercussions in the United States.
Britons will vote this Thursday whether or not to leave the European Union. The most reent survey, by Survation for IG, showed both the leave and remain camps neck in neck. Polls, released over the weekend, showed the “remain” camp gaining some momentum. This morning the British Pound traded at $1.4684 at 0930 HK time. This was a bit higher from last week’s close at $1.40.
