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Forex Today: Asian Stock Markets Trading Higher

The week has begun with Asian stock markets leading the way modestly higher.

  1. Major Asian equity indices Hong Kong, China, Australia, South Korea, and Japan are ending the day higher. Some analysts see an increasing sentiment expecting a faster pace of US rate cuts as possibly helping sentiment.
  2. The precious metals Gold and Silver are rising, especially spot Silver which is up by more than 1% since the Tokyo open. Long-term trend traders will still be interested in Silver on the long side.
  3. It is likely to be a quiet day in many markets, especially in Forex markets, as it is a public holiday today in both the USA and the UK.
  4. An ex-member of the Bank of Japan’s policy board has said he expects the Bank of Japan could raise rates by a further 0.50% by 2025, if economic conditions do not change materially. Rate hikes could be bullish for the Yen.
  5. There will be a release today of Consumer Confidence data for the USA.

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    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.


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