- 15th March 2019
- Posted by: Hakeem
- Categories: FOREX LATEST NEWS DAILY, International
Forex today in Friday’s Asian session was driven by mixed market sentiment, as the renewed US-China optimism was somewhat overshadowed by the North Korean news, citing that they are considering suspending nuclear talks with the US. However, the Asian equity markets advanced, led by the rally in the Chinese stocks amid upbeat remarks from China’s Premier Li. The risk currencies, the Antipodeans, also got a lift from the risk-on action in the equities, as the Aussie made another attempt to test the 0.71 handle. The Kiwi also followed suit and regained the 0.6850 barrier briefly. The USD/JPY pair, however, enjoyed good two-way business, having dropped to 111.50 on the North Korean news, but the BOJ’s tweaks to the Japanese economic assessment continued to weigh down on the JPY.
Among the European currencies, the Cable wavered in a tight range above the 1.32 handle, awaiting a fresh direction amid looming Brexit uncertainty while the common currency held onto gains above the 1.1300 level amid broad-based US dollar weakness and weaker Treasury yields.
On the commodities front, both crude benchmarks consolidated near multi-month tops ahead of the US factories and rigs count data. Gold futures on Comex looked to stabilize just below the 1300 mark, with the bulls now eyeing a break above the 1311 levels for further a sustained move northwards.