- Asian stocks follow the footsteps of the Wall street price action on Thursday.
- US debt ceiling, European gas supplies, and weaker commodities make traders' diaries full.
- US and China agreed to a virtual summit before the year’s end.
Asian stocks trade in green following the overnight gains on Wall Street amid progress toward the US debt ceiling resolution. Investors also remain optimistic about the reports that Washington and Beijing had agreed to hold a virtual meeting before the end of the year.
MSCI’s broadest index of Asia-pacific shares outside Japan jumped 1.25%.
The Hang Seng Index rose 2.22% following the reports that Hong kong’s private sector expands the least in three-month but marking the eighth consecutive month of expansion. Chinese Estates Holdings, a major shareholder of China Evergrande has been planning to offload its entire stake in the debt-ridden property giant.
The ASX 200 gained 1.07%, rising for the first time in the last three sessions, following the reports that curbs in Sydney will be eased further from Monday.
The Nikkei 225 rose 1.02% after Japan’s new finance minister said he will keep monetary and fiscal stimulus. The Bank of Japan (BOJ) Governor Haruhiko Kuroda said inflation to increase amid the recent rise in energy cost.
WTI dropped below $77.00 after hitting a seven-year high of $79.78 in the previous session.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD falls back toward 1.1150 as US Dollar rebounds
EUR/USD is falling back toward 1.1150 in European trading on Friday, reversing early gains. Risk sentiment sours and lifts the haven demand for the US Dollar, fuelling a pullback in the pair. The focus now remains on the Fedspeak for fresh directives.
GBP/USD struggles near 1.3300 amid renewed US Dollar demand
GBP/USD is paring back gains to trade near 1.3300 in the European session. The data from the UK showed that Retail Sales rose at a stronger pace than expected in August, briefly supporting Pound Sterling but the US Dollar comeback checks the pair's upside. Fedspeak eyed.
Gold hits new highs on expectations of global cuts to interest rates
Gold (XAU/USD) breaks to a new record high near $2,610 on Friday on heightened expectations that global central banks will follow the Federal Reserve (Fed) in easing policy and slashing interest rates.
Pepe price forecast: Eyes for 30% rally
Pepe’s price broke and closed above the descending trendline on Thursday, eyeing for a rally. On-chain data hints at a bullish move as PEPE’s dormant wallets are active, and the long-to-short ratio is above one.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.