Asian equities are mixed ahead of US inflation data

Asian equities are mixed ahead of US inflation data

On Wednesday, Asian equities showed mixed performance because market participants were quite anxious ahead of American inflation data, which could either relieve or rekindle concerns of faster rate lifts worldwide.  

The evergreen buck managed to break the previous year’s minimum, demonstrating a 15-month dive to 107.01. The greenback’s move put pressure on Japan's Nikkei that headed south 1.4% testing four-month minimums. As dealers told, market participants closely watched the 200-day moving average, holding over 21,031 because a potential break would be a signal for bears. By the way, the Nikkei last slumped 0.4% being worth 21,154.17.

As for other Asian markets, they turned to be steady enough. For instance, MSCI's index of Asia-Pacific equities managed to grow 0.8%, underpinned by Hong Kong as well as South Korean indices.

Market participants are waiting for the American consumer price report for January. 

US headline consumer price inflation is supposed to step down to an annual 1.9%, while core inflation is expected to dive to 1.7% - the given outcome could potentially assist in calming nerves.

Meanwhile, the evergreen buck was pressured once again. On a basket of currencies the major American currency went down 0.2% hitting 89.5.

The common currency strengthened to $1.2378, rebounded from the previous week's dive to $1.2204. It was underpinned by hopes that on Wednesday German GDP data would demonstrate substantial surge.

Market experts told that traders were getting nervous as for the prospect of swelling American budget as well as trade deficits especially considering the passage of enormous tax cuts and also spending plans.

The sag in the evergreen buck underpinned commodities. Copper holds gains, having ascended 2.7% overnight.

Meanwhile, gold futures added 0.3% being worth $1,333.78 a troy ounce, drifting away from the previous week's one-month minimum of $1,306.81.

Similar

Key EU indexes head south

On Wednesday, European stock indexes went down amid uncertainty with the Italian government as well as worsening market sentiment about the everlasting trade talks between the two largest economies of the world…

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera