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FED continues to pump dollars into the system for undefined period
Asia: Asian Indices close mixed ahead of Chinese New Year holiday period starting next week
Forex: Profit taking in YEN related pairs
Forex: Kiwi dollar stronger after rate left unchanged
Overnight rates and Indices:
EUR/USD 1.3544 1.3584 -0.07 %
USD/CHF 0.9088 0.9118 -0.08 %
GBP/USD 1.5792 1.5835 0.16 %
USD/JPY 90.75 91.15 0.23 %
EUR/CHF 1.2336 1.23704 -0.01 %
EUR/JPY 122.99 123.72 0.30 %
Dow Jones 13896.95 13966.13 -0.31 %
Nasdaq 2732.05 2757.09 -0.17 %
S&P 500 1500.11 1509.94 -0.38 %
Nikkei 225 11007.77 11145.38 0.22 %
Shanghai 2371.23 2391.82 0.12 %
Gold spot 1673.03 1680.85 0.05 %
Crude Oil 97.67 98.04 -0.04 %
Asian stock markets were mixed on the final day of the month, the Nikkei posted a small gain whereas the Hang Seng Index closed in the red. Chinese investors usually tend to act a bit on the defensive side ahead of the Chinese New Year period starting next week. The Chinese Stock market will then be closed for 7 days.
We see some profit taking in the YEN related pairs – with USD/JPY coming down from 91.41. EUR/JPY Investors also took some chips off the table with the pair re-testing the 123 level after trading as high as 123.87 yesterday. The New Zealand Dollar was stronger in overnight trading - especially against a weaker Aussie - after the Central Bank of New Zealand left the benchmark rate unchanged at 2.5 %.
In a statement last night after their two day meeting the US-Federal Reserve said that “economic growth faces downside risks”, suggesting that the FED will continue to pump billions of Dollars into the system for a yet undefined period.
In the afternoon we get economic data out of the US, with the weekly jobless claims in focus ahead of tomorrow`s big non-farm payroll numbers. Furthermore we expect personal income and personal spending data as well as the Chicago PMI.
Henry Philippson - Junior Trader - RTFX Ltd