Forex Marketz Daily Forex News – Fully Markets Update
Asian equity markets moved higher to kick the week off. There is fading risk aversion as the US dollar inched higher recovering some losses. Investors also digested news of central bank developments with both the People’s Bank of China and European Central Bank announcing monetary policy by the start of the weekend.
The Nikkei 225 rose a sold 1.38 percent. South Korea’s benchmark Kospi Composite index rose 0.88 percent. Korean investors noted that geopolitical tensions eased on the Korean peninsula during the weekend.
The rally took place after no North Korean missile launches happened during the September 9 weekend. This is the anniversary of the country’s founding. There had been speculation, as the weekend neared, that North Korea could conduct its next missile test to celebrate the anniversary.
In Australia, the S&P ASX 200 was up 0.57 percent. The index was boosted by the information technology sub-index leading the way. The heavily weighted financials sub-index was up 1.18 percent.
In China, the financial markets also gained. Hong Kong’s Hang Seng Index was up 1.01 percent. On the mainland, the Shanghai Composite rose 0.25 percent and the Shenzhen Composite tacked on 0.32 percent.
Asian investors followed the positive sentiment from Wall Street and by 10:00 am Hong Kong time, Dow Jones futures were up 109 points.
Asian Currency Market are also Upbeat Monday
During the Asian trade hours, by 9:45 am Hong Kong time, the US dollar index which measures the greenback against a basket of six major currencies, was up to 91.602. The greenback had slumped broadly on Friday. The dollar index had finished last week at 91.325.
Against the Japanese currency, the dollar rose more than 0.6 percent. The USD/JPY Forex market was last trading at 108.50 yen. This is after hitting a low of 107.31 in the last session. The dollar continued to gain after the release of a solid Japan’s July machinery orders earlier in the session.
