Forex Marketz Daily Forex News – Fully Markets Update
Asian and Pacific Rim markets were mixed by the early afternoon ad Asian traders are sitting on the sidelines ahead of key economic events.
Today, the Federal Reserve Board will announce December’s monetary policy and rate decision. Traders are also watching trade headlines between the United States and China and digesting the last opinion polls in the United Kingdom before tomorrow’s general election.
In Japan, the headline Nikkei 225 was down a fraction of a percent by noon. The broader Topix index, in Tokyo, was down over 0.3 percent.
In South Korea, the Kospi composite index add half a percent by the afternoon.
Elsewhere in the Asian trade region, the Australian S&P ASX 200 was up half a percent as most sub-sectors advanced.
In Hong Kong, the Hang Seng index was up 0.3 percent and shares on the Mainland in China were mixed by lunch time.
The Hang Seng index gained a fraction of a percent. The smaller Shenzhen composite was trading flat. The Shenzhen component lost over half a percent
Asian Traders wait on the FOMC Decision, Monitor Trade Headlines and UK Election Polls
Traders are waiting on the Federal Open Market Committee (FOMC) to announce monetary policy for the month of December. This is scheduled for 7 pm GMT. Federal Reserve Chair Jerome Powell will hold his press conference at 7:30 pm GMT.
Current headlines now suggest that the United States could delay the December 15 tariff deadline in order to keep trade talks going. China, in response, has indicted that they will increase soybean purchases from the United States.
Traders are also monitoring the last opinion polls before tomorrow’s election in the United Kingdom. The polling data indicate that Prime Minister Boris Johnson’s Conservative Party is maintaining a narrow lead over the Labour Party.
The last YouGov election poll, before tomorrow’s election shows that the Conservative Party will win a majority of 28 seats in parliament. This polls, last month, showed them at a 68 seat advantage.
