Trader, analyst and instructor with a 6-year experience

Dec. 18: Asian session

Asian stock market edged up as investors are waiting for the Fed’s meeting results: today we’ll find out whether US central bank decides to start tapering QE or not. The Fed’s quantitative easing has been a major driver for global risk assets in recent years. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up by 0.2%. Japanese Nikkei 225 index climbed by 1.5% as the hedge funds were buying.

USD/JPY found support in the 102.50 area and rose once again to 103.00. Yen fell as Japanese trade deficit widened to the record level of 1.35T yen ($13.1B). AUD/USD is trading at daily lows around $0.8900, up from the yesterday’s 3.5-month low of $0.8880. The pair made a quick bounce to $0.8930 as the RBA Governor Glenn Stevens said there are signs that loose policy is supporting spending. The pair weakened later as Stevens reiterated his commitment to keep the Aussie low: according to him, the regulator still hasn’t intervened in the currency market, but could do that if needed. NZD/USD has also lost some ground, weakening to the $0.8240 support.

EUR/USD rose to $1.3775 after it tested $1.3722 yesterday. GBP/USD went up to $1.6288 after testing $1.6216 yesterday.

Scroll to top