Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Equities of the Asia-Pacific region head south
On Thursday, stock indices of the Asia-Pacific region headed south after rather a mixed start of trading. It’s because of the outbreak of geopolitical tensions in Syria. At night, American stocks also retreated amid geopolitical problems after President Donald Trump warned Russia about the upcoming military actions in Syria due to the alleged use of chemical weapons.
The minutes of the meeting of the US Federal Open Market Committee on March 20-21 showed that the meeting participants are ready for a slightly faster rate of tightening of the policy.
The key American currency went down versus the Japanese yen. In addition to this gold prices headed south from many-week highs. As for crude, this crucial commodity held steady because of the military escalation in Syria.
Meanwhile, in China, the Shanghai Composite Index inched down after growth during three trading sessions. In Hong Kong, the Hang Seng index is also declining after today the Chinese Ministry of Commerce again resumed fears of trade tensions. The statesman told that that President X's speech this week shouldn’t be regarded as a US concession, but a crucial strategy for China's further opening and it has really nothing to do with trade clashes with the United States of America. The Ministry also informed that until now China as well as the United States haven’t held any talks on bilateral trade frictions. Besides this they added that China’s absolutely prepared for trade exacerbations and it’s going to resist without hesitation.
In Japan, the Nikkei index went down due to the fact the evergreen buck remains under pressure versus the Japanese yen.
The Australian S&P/ASX 200 index also slumped amid a possible resumption of trade tensions between the USA and China, and also because of the ascending geopolitical tensions in the world.
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!