Asian Stock Market: Trades mix on subdued S&P500, DXY slips around 106.80, oil below $90.00


  • Asian equities are displaying a mixed performance as the DXY turns sideways.
  • The DXY may remain on the sidelines ahead of the US Inflation.
  • Oil prices are establishing below $90.00 as supply worries have trimmed.

Markets in the Asian domain are displaying a mixed performance as the S&P500 is performing subdued. The US markets remained mixed on Friday after the release of the US Nonfarm Payrolls (NFP). The US Nonfarm Payrolls (NFP) landed at 528k, significantly higher than the expectations of 250k and the prior release of 372k. Investors were expecting that commentary from US corporate players citing a halt in the recruitment process after the US Fed hiked interest rates to squeeze liquidity from the market will make the US economy crippled in employment generation.

At the press time, Japan’s Nikkei225 added 0.19%, China A50 eased 0.40%, Hang Seng tumbled 0.70%, while Nifty50 gained 0.34%.

The US dollar index (DXY) has surrendered its entire gains in the Asian session and has slipped below open. Investors are shifting their focus towards the release of the US Consumer Price Index (CPI), which is due on Wednesday. As per the market consensus, US inflation is seen at 8.7%, lower than the prior release of 9.1%. It is worth noting that this could be an initial sign of exhaustion in the price pressures. This could be a relief for the US households as the higher price rise index was cutting their ‘paychecks’ dramatically.

On the oil front, soaring odds of a recession and a promise of higher oil supplies by the OPEC+ have pushed the oil prices lower. The oil prices have settled below the psychological support of $90.00 and are likely to display losses further.

Nikkei 225

Overview
Today last price 27898.91
Today Daily Change -279.29
Today Daily Change % -0.99
Today daily open 28178.2
 
Trends
Daily SMA20 27489.55
Daily SMA50 27102.56
Daily SMA100 27062.61
Daily SMA200 27505.39
 
Levels
Previous Daily High 28200.01
Previous Daily Low 27904.31
Previous Weekly High 28200.01
Previous Weekly Low 27904.31
Previous Monthly High 28084.42
Previous Monthly Low 25801.44
Daily Fibonacci 38.2% 28087.05
Daily Fibonacci 61.8% 28017.27
Daily Pivot Point S1 27988.34
Daily Pivot Point S2 27798.47
Daily Pivot Point S3 27692.64
Daily Pivot Point R1 28284.04
Daily Pivot Point R2 28389.87
Daily Pivot Point R3 28579.74

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Upside remains capped below 0.6850 on dismal China's Services PMI

AUD/USD: Upside remains capped below 0.6850 on dismal China's Services PMI

AUD/USD has stalled its upside below 0.6850 after the Chinese Caixin Services PMI disappointed with 46.7 in November. US Dollar weakness and China's reopening-led better risk tone help the Aussie stay afloat ahead of the US ISM Services PMI. 

AUDUSD News

EUR/USD refreshes five-month high above 1.0550 on solid risk-on profile

EUR/USD refreshes five-month high above 1.0550 on solid risk-on profile

The EUR/USD pair has refreshed its five-month high at 1.0549 in the Asian session. The major currency pair has witnessed a juggernaut rally after a responsive buying action below 1.0440 on Friday. The US Dollar has witnessed immense pressure amid the risk appetite theme.

EUR/USD News

Gold struggles around $1,800 ahead of ISM Services PMI data

Gold struggles around $1,800 ahead of ISM Services PMI data

Gold price is facing immense pressure in conquering the round-level resistance of $1,800.00 in the early Tokyo session. The precious metal is highly expected to display more gains ahead and may extend towards a fresh three-month high at $1,824.63.

Gold News

AVAX: Traders bet should be on Avalanche bulls triggering a 15% rally

AVAX: Traders bet should be on Avalanche bulls triggering a 15% rally

AVAX price has breached an inverse head-and-shoulders setup, hinting at a 13% upswing. AVAX price has broken out of a critical hurdle and pattern, signaling the start of a quick run-up. AVAX price action created an inverse head-and-shoulder setup.

Read more

The Yen, Payrolls, and the Oil price

The Yen, Payrolls, and the Oil price

US stocks wrapped their second straight week of gains, even if stocks slipped on Friday on the back of better-than-expected US Payrolls data.We have been amazed by the resilience in risky assets of late. This year has seen some incredible macro themes.

Read more

Forex MAJORS

Cryptocurrencies

Signatures