• Home
  • Posts
  • Tuesday's Trading and Global Market Update

Tuesday's Trading and Global Market Update

Olusegun Enujowo

Analyst

Currencies: Most Asian currencies inched higher on Tuesday as investors cheered signals of more stimulus measures from China, while the Australian dollar fell 0.7%, and was hovering near a four-month low after the Reserve Bank of Australia held interest rates steady at 4.35% in its December policy meeting, citing sticky underlying inflation and a tight labour market. Gains in regional currencies were limited as investors were cautious ahead of a key U.S. inflation reading, which could provide more clues on the Federal Reserve’s rate outlook before it meets next week.

China: There is a return of growth hopes in China, as Beijing said China will adopt a moderately loose monetary policy. It's the same term that Beijing used in 2010 when it looked to support a recovery from the global financial crisis. This will directly impact on Asian stock prices as they may edge lower.

Oil Prices: There is increased geopolitical uncertainty in the middle east after the fall of Syrian President Bashar al-Assad. However, Syria has been a minor oil producer(unlike Saudi, a major producer). However, this changes in leadership is definitely going to which in on the global price of crude as we can already see in the daily bars of crude oil on the charts- despite the fact that OPEC+ pushed back plans to increase output to at least the second quarter of next year, the third delay in recent months.

Use your preferred trading platform

Register Now


Payment Options

What Clients Say?