Forex Marketz Daily Forex News – Fully Markets Update
Asian traders were cautious on Monday as the major equities bourses throughout the Asian and Pacific Rim were mixed by the afternoon. Traders are waiting on this week’s monetary policy and rate decision from the U.S. Federal Reserve due on Wednesday.
The Asian benchmark, in Japan, the Nikkei 225, was mixed as shares rose a fraction. In Tokyo, the broader Topix index was down 0.32 percent.
Across the Korean Strait, the Kospi composite index was down 0.25 percent. In Australia, the benchmark S&P ASX 200 lost 0.21 percent.
In China, on the mainland, the benchmarks were lower by lunchtime, The Shenzhen composite lost half a percent. The Shanghai composite was down a fraction and the Shenzhen component lost 0.6 percent.
In Hong Kong, protests continue over the controversial extradition law. This law was only suspended but not withdrawn. The Hang Seng index was down 0.6 percent.
Asian Traders wait on the FOMC Monetary Policy and Rate Decision
Traders are focusing in this week’s monetary policy decision from the Federal Open Market Committee (FOMC). The two day meeting will start on Tuesday with a monetary policy and rate announcement scheduled for Wednesday.
Last week, for the month of May, U.S. retail sales rose and sales for April were revised higher. This suggests a pick-up in consumer spending. This could also indicate that the economy still has steam and that a second quarter slowdown might not be as bad as expected
The retail report also sent the dollar front end Treasury yields higher as well as flattening the yield curve.
