Asian equities mostly rose on Thursday,with Shanghai and Seoul underperforming on the back of sluggish property data from China, as investors took heart from a turn in oil prices and after the Federal Reserve said it was confident in the U.S. economy.
Overnight, U.S. stocks surged, with the blue-chip Dow marking its best session of the year following a rally in the energy sector and the Federal Reserve’s decision to be patient in raising interest rates. The Dow Jones Industrial Average rose 1.7 percent, while the S&P 500 added 2 percent, with energy pacing gains among its 10 major sectors. The tech-heavy Nasdaq gained 2.1 percent.
On Wednesday, Fed Chair Janet Yellen said in her last news conference of 2014 that the Fed is unlikely to start its rate hike process for “at least the next couple of meetings.”
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 OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Recommended Content
Editors’ Picks
AUD/USD failed just ahead of the 200-day SMA
Finally, AUD/USD managed to break above the 0.6500 barrier on Wednesday, extending the weekly recovery, although its advance faltered just ahead of the 0.6530 region, where the key 200-day SMA sits.
EUR/USD met some decent resistance above 1.0700
EUR/USD remained unable to gather extra upside traction and surpass the 1.0700 hurdle in a convincing fashion on Wednesday, instead giving away part of the weekly gains against the backdrop of a decent bounce in the Dollar.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Bitcoin price could be primed for correction as bearish activity grows near $66K area
Bitcoin (BTC) price managed to maintain a northbound trajectory after the April 20 halving, despite bold assertions by analysts that the event would be a “sell the news” situation. However, after four days of strength, the tables could be turning as a dark cloud now hovers above BTC price.
Bank of Japan's predicament: The BOJ is trapped
In this special edition of TradeGATEHub Live Trading, we're joined by guest speaker Tavi @TaviCosta, who shares his insights on the Bank of Japan's current predicament, stating, 'The BOJ is Trapped.'