Forex Today: Stock Markets Higher

Adam Lemon

Japanese and Asian stock markets have received a strong boost from the resignation of Japan’s embattled PM.

  • Last week saw most currencies rise against the US dollar with the greatest medium-term strength in the Australian and New Zealand dollars. It is too early to be confident of a change in momentum this week but since the weekly open the US dollar has been bid.

Advertisement
Heavy swings in the dollar make highly profitable trades

Make Your Move Now!

  • Stock markets are generally higher and today’s Asian session saw strong rises in Japanese and Chinese stock indices, especially in Japan where political developments are at the heart of the current move.

  • US non-farm payrolls came in at only 235k net new jobs created compared to the 720k which had been generally expected by the market. This has raised fears that the Federal Reserve could abandon plans to begin tapering its QE program but most analysts expect that this will only delay the implementation of tapering.

  • Tuesday’s Asian session will bring the release of the Reserve Bank of Australia’s rate statement, which might impact the Australian dollar.

  • Last week saw the second consecutive weekly fall in global new confirmed coronavirus cases after over 2 months of weekly rises, suggesting the current wave driven by the delta variant may have peaked.

  • It is estimated that 40.3% of the world’s population has had at least one dose of a coronavirus vaccination.

  • Total confirmed new coronavirus cases worldwide stand at over 221.1 million with an average case fatality rate of 2.07%.

  • The rate of new coronavirus infections appears to now be increasing most quickly in Albania, Australia, Austria, Barbados, Belarus, Belize, Bosnia, Bulgaria, Canada, Costa Rica, Estonia, Ethiopia, Germany, Latvia, Mongolia, Norway, Philippines, Serbia, Slovenia, the U.S., and Vietnam.

Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.
Learn more from Adam in his free lessons at FX Academy

Did you like what you read? Let us know what you think!

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

0 User comments

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

Read more
Add new comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.