Asian Markets Mixed

Asian Markets Mixed

Asian markets are mixed this morning as the Hang Seng gains 46 points whilst the Nikkei225 is lower by 107 points.

US Consumer debt is now above those levels seen in 2008 and the Global Financial Collapse and warnings have surfaced that a housing market slump could drive global growth to a 10 year low

Jerome Powell reiterated the Fed’s independence yesterday at a speech and this has reduced expectations of an imminent rate cut.

This morning’s inflation report hearing in the UK may give further indication to Central Banks approach to both issues. Opening calls for the FTSE and DAX see those markets lower by 10 and 33 points respectively first thing this morning.

I expect the markets to drift again today as we wait for the start of the G20 meeting and in particular the meeting of Presidents Trump and Xi on Saturday.

Yesterdays ‘Paired’ trade worked particularly well and at this mornings levels (DOW 26,550 and GOLD 1405,75) would have yielded a whopping 400 pips. The move in GOLD overnight to just above the 1405 level negates the viability of this trade this morning.

The following two tabs change content below.
'Want to learn more with Nick Lesson? Bizintra offers world-class education, trade signals with a success rate of 80% to date, daily live webinars and a student support community. The best part of this is that they offer a limited number of broker sponsorships each month, meaning a broker will pay 100% of your course fees. Why delay? head over to their website bizintra.com for more information and to arrange a call with one of their senior analysts who can provide you with all the details'

Latest posts by Nick Leeson (see all)

You must be logged in to post comments :  
CONNECT WITH