"Buy the rumor - sell the fact" action for USD/TRY
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Asia-Pacific shares mostly ascend
On Tuesday, stock indexes of the Asia-Pacific region mostly gained and it can be explained by the fact that US President Donald Trump along with North Korean leader Kim Jong-un finally signed a promising document, which calls for working together to create a lasting and steady peace regime on the Korean Peninsula.
In addition to the meeting in Singapore, market participants also expected clues from three major financial institutions, which are expected to have meetings this week.
The US key bank will nearly 100% have its rates lifted again when it meets on Wednesday. Besides this, on Thursday the European Central Bank will report that by the end of this year it’s going to start disrupting its ambitious bond purchase program.
In addition to this, the BOJ will also have its two-day political gathering finished on Friday. Financial analysts don’t expect a change beyond the soft policy of the financial institution.
As for Chinese stock indexes, they concluded up, and the benchmark Shanghai Composite managed to ascend by up to 0.89%. In Hong Kong, the Hang Seng index went up by about 0.13% at the end of the trading session.
Additionally, Japanese stocks got to a three-week maximum after American President Trump told that he managed to develop a positive relationship with North Korean leader Kim Jong-no in Singapore.
Moreover, Australian stocks demonstrated moderate gains due to the historic meeting of North Korean dictator Kim Jong-un and American President Donald Trump.
As a matter of fact, the conglomerate Wesfarmers ramped up its capitalization by approximately 1.3% after it reported the completion of the sale of its UK business Homebas. As for healthcare as well as industrial reserves, they concluded mostly up, while CSL and Transurban Group stepped up their capitalization by respectively 1% and 1.5%.
Weaker prices for base metals and iron suppressed the value of equities in mining companies.
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Market updates on September 20
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
Oil spikes on the tweet by Iran's foreign minister
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
Market updates on September 19
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.
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