APAC Markets Press ahead

Expectations of a hike have increased since Donald Trump was elected president in November as dealers bet his big-spending, tax-cutting plans will fan inflation. And the latest reading on prices increases, as well as healthy jobs growth and factory activity, have reinforced that view.

Hong Kong added 0.2 per cent in the morning and Shanghai was up 0.3 per cent while Seoul put on one per cent. Sydney was flat while Singapore dipped 0.1 per cent.

On currency markets Stephen Innes, senior trader at OANDA, said the euro “traded a little heavy, but with much ink spilled over the French elections, (it) has held remarkably well.

“Traders donned their noise-cancelling headphones, not wanting to get emotionally caught in EU political melodrama at this stage.”

Investors are keeping an eye on the release this week of Fed minutes from its most recent policy meeting hoping for fresh clues about its plans for rates, while preliminary factory figures are also due this week from the US and Europe.

THE BUSINESS TIMES

 

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and specialises in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is based in Singapore as the Head of Trading Asia Pacific with OANDA.Stephen's market views focus on the movement of G-10 and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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