FXS: Asian markets mixed, Dollar strengthens as oil prices ease
FXstreet.com (Barcelona) - Asian market have shown a mixed trend on Wednesday, with oil prices retreating, which has eased concerns about the possibility of soaring commodity prices dampening economic recovery. In currency markets, Dollar appreciates across the board.
Japanese Nikkei Index has risen 0.6%, while the Hong Kong Hang Seng Index added 0.5%, and South Korean Kospi Index added 0.3%. On the negative side, The Australian ASX index has dropped 0.8%, while the Chinese Shangai Composite Index edged 0.1% down.
On the macroeconomic front Japanese Machinery orders have risen beyond expectations in January; 4.2% higher, after the 1.7% advance posted in December, beating market expectations of a 3.0% rise, suggesting an increment of corporate spending, an indicator of global economic improvement.
Dollar rises as oil prices ease
EUR/USD retreat from 4-month high at 1.4025 reached on Monday extended yesterday to 1.3860 low, and after a recovery attempt, which has been capped at 1.3925, the pair has pulled back , to consolidate below 1.3900 during Asian session.
GBP/USD failure at 1.6345 extended yesterday below 1.6200, hitting support at one-week low 1.6125, to pick up and trade sideways in Asia between 1.6140 and 1.6170.
USD/JPY rejection from 83.05 high on Friday was contained on Monday at 81.95 low, and the pair has been trading higher since, to regain most of the ground lost on Friday, reaching, so far, 82.95 high.
