Asian Stocks, Dollar Rise Following Upbeat US Economic Data
May 28, 2014 5:40 am
Asian stocks appreciated on Wednesday while the dollar maintained its near 8-week high against other currencies. The market witnessed as the US stock remained in positive territory following the S&P 500 Index’ record setting week.
Tokyo’s Nikkei gained 0.1% while South Korean Shares increased to an almost 0.5%. Meanwhile, MSCIS’s widest Asia-Pacific index shares gained 0.4%.
The United States had a good economic record in the past few months as housing value rocketed in March, orders of durable goods rose in April, and service industries boomed in May. This led to riskier asset markets going into bullish moods.
US stocks continue to rise with Dow Jones Industrial finished with a gain of 0.42% while S&P sets new record high with an index up by 0.60% to 1,911.91.
The dollar matched the yen at 101.91 yen. Meanwhile the euro remained resilient at $1.3634, battling it’s three-month low streak. ECB President Mario Draghi the banks uneasiness at the low inflation and to remedy this, clues in that a policy action is likely to happen. The next meeting will be held on June 5.
Analyst for Tong Yang Securities in Seoul, Cho Byung-hyun, ahad this to say, “The bullish U.S. indicators have set the positive tone for investors, who are basically using this week to prepare for next week’s ECB meeting”
The European Central Bank’s hints of easing the monetary policy and the Federal Reserve’s word to keep on supporting the world’s biggest economy kept the investors at bay.
Gold continues it’s decline and stooped to a new 3 and ½ month low. This is also due to the US’s positive economic data cutting off its appeal and in addition, to a decrease in imports from its major consumer, China. It fell to a value of $1,260.74 an ounce.
The material has been provided by InstaForex Company – www.instaforex.com
Asian stocks appreciated on Wednesday while the dollar maintained its near 8-week high against other currencies. The market witnessed as the US stock remained in positive territory following the S&P 500 Index’ record setting week.
Tokyo’s Nikkei gained 0.1% while South Korean Shares increased to an almost 0.5%. Meanwhile, MSCIS’s widest Asia-Pacific index shares gained 0.4%.
The United States had a good economic record in the past few months as housing value rocketed in March, orders of durable goods rose in April, and service industries boomed in May. This led to riskier asset markets going into bullish moods.
US stocks continue to rise with Dow Jones Industrial finished with a gain of 0.42% while S&P sets new record high with an index up by 0.60% to 1,911.91.
The dollar matched the yen at 101.91 yen. Meanwhile the euro remained resilient at $1.3634, battling it’s three-month low streak. ECB President Mario Draghi the banks uneasiness at the low inflation and to remedy this, clues in that a policy action is likely to happen. The next meeting will be held on June 5.
Analyst for Tong Yang Securities in Seoul, Cho Byung-hyun, ahad this to say, “The bullish U.S. indicators have set the positive tone for investors, who are basically using this week to prepare for next week’s ECB meeting”
The European Central Bank’s hints of easing the monetary policy and the Federal Reserve’s word to keep on supporting the world’s biggest economy kept the investors at bay.
Gold continues it’s decline and stooped to a new 3 and ½ month low. This is also due to the US’s positive economic data cutting off its appeal and in addition, to a decrease in imports from its major consumer, China. It fell to a value of $1,260.74 an ounce.
The material has been provided by InstaForex Company – www.instaforex.com
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