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Asian stock markets edged higher on Wednesday, brushing off Wall Street’s weaker finish, which came after U.S. President Donald Trump abruptly broke off economic stimulus negotiations with lawmakers.
The Tokyo market’s index Nikkei 225 closed down by 0.18 % at 23,389.90 and the topix closed at0.31% higher to 1,643 .Hong Kong’s Hang Seng index was up by 0.21 % to 24,095.05. Mainland Chinese stocks also edged lower today, as the Shanghai composite climbed down by 0.20% to about 3,218.05. South Korea’s Kospi climbed up by 0.27% to 2,363.89.
Shares in Australia also saw gain,, with the S&P/ASX 200 inched up by1.13 % to 6,028.80, at the time of writing.
The pan-European Stoxx 50 climbed up by 0.41% to 3,233.19. In the cash markets, the DAX futures Germany was trading0.61% higher at 12,906.87, CAC 40 futures in France climbed up 0.48% to 4,895.5, while the FTSE 100 futures in the U.K. rose by 0.12 % to 5949,at the time of writing.
The American stock market closed on a negative note. The Nasdaq 100 was down by1.57% to 11,154.20 , the S&P 500 was down by1.40% to 3,360.80 and the Dow Jones was down by 1.68% at 27,757.90, at the time of writing.
On the economic front, German industrial production fell 0.2% in August, a much weaker result than the 1.5% gain expected. The Reserve Bank of Australia (RBA) leaving its rates unchanged at 0.25%. In the U.S., The Commerce Department said on Tuesday the trade deficit jumped 5.9% to $67.1 billion, the widest since August 2006. Imports in the United States increased by 3.2% to $239 billion. Goods imports rose $6.5 billion to $203 billion. Exports increased 2.2% to $171.9 billion. Goods exports rose $3.5 billion to $119.1 billion.
In the Corporate News today, Yahoo Japan Corp. (T:4689) added 3.91% or 28.0 points to end at 745.0 and Nippon Telegraph & Telephone Corp (T:9432) was up 3.31% or 73.5 points to 2295.5. Dialog Semiconductor (DE
LGS) jumped 5.4% to the top of STOXX 600 after it forecast better-than-expected revenue in its third quarter. shares of Tesco TSCO, 2.80% rose over 2% after the U.K. grocer reported higher pretax profit for the first half of fiscal 2021 as revenue rose.
Shares of Rolls-Royce Holdings RR, 2.83% jumped 8%, and were poised for a third-straight session of gains. The engineering company’s shares jumped 12%, on Tuesday, a day after the company announced a £1 billion ($1.3 billion) convertible bond offering and winning a contract in India.
On the data front, Traders will look to minutes from the ECB and Fed’s most recent meeting and comments from several Fed speakers for further signs of how central bankers view the outlook. Investors now await data from the U.S. Energy Information Administration, due later in the day. USD FOMC statement is scheduled to release at 14:00 local time today. USD crude oil inventories will be released at 10:30 local time, previous figure was 0.294M and forecast is -1.980M.
In the currency market ,EUR/USD was down by 0.02% to 1.1732 . The AUD/USD was up by 0.17% to 0.7119 and the NZD/USD pair edged up by 0.08% to 0.6592.. The GBP/USD pair inched up by 0.06 % to 1.2885, at the time of writing.
In the Commodity Markets, Gold prices declined by1.12% to $1,887.50 ,on Wednesday . Spot gold (XAU/USD) was up by 0.32% at $1,822.09 per ounce. Elsewhere, silver futures fell1.53% to $23.430 per ounce and platinum climbed up1.23 % to $867.74, while palladium edged 0.18% lower to $2,376.60, at the time of writing. .
U.S. West Texas Intermediate crude futures climbed down by0.18 % to 39.85 per barrel. Brent crude futures also climbed down by 1.62%, to $41.96 a barrel.
In the Cryptocurrency Markets, BTC/USD inched down by 1.86% and was trading at 10,585. Ethereum was also down by 4.72% to $336.33. Litecoin too declined 2.11% to 45.595, and Dash inched down by 3.69 % to 65.59,at the time of writing.
EURUSD
The Tokyo market’s index Nikkei 225 closed down by 0.18 % at 23,389.90 and the topix closed at0.31% higher to 1,643 .Hong Kong’s Hang Seng index was up by 0.21 % to 24,095.05. Mainland Chinese stocks also edged lower today, as the Shanghai composite climbed down by 0.20% to about 3,218.05. South Korea’s Kospi climbed up by 0.27% to 2,363.89.
Shares in Australia also saw gain,, with the S&P/ASX 200 inched up by1.13 % to 6,028.80, at the time of writing.
The pan-European Stoxx 50 climbed up by 0.41% to 3,233.19. In the cash markets, the DAX futures Germany was trading0.61% higher at 12,906.87, CAC 40 futures in France climbed up 0.48% to 4,895.5, while the FTSE 100 futures in the U.K. rose by 0.12 % to 5949,at the time of writing.
The American stock market closed on a negative note. The Nasdaq 100 was down by1.57% to 11,154.20 , the S&P 500 was down by1.40% to 3,360.80 and the Dow Jones was down by 1.68% at 27,757.90, at the time of writing.
On the economic front, German industrial production fell 0.2% in August, a much weaker result than the 1.5% gain expected. The Reserve Bank of Australia (RBA) leaving its rates unchanged at 0.25%. In the U.S., The Commerce Department said on Tuesday the trade deficit jumped 5.9% to $67.1 billion, the widest since August 2006. Imports in the United States increased by 3.2% to $239 billion. Goods imports rose $6.5 billion to $203 billion. Exports increased 2.2% to $171.9 billion. Goods exports rose $3.5 billion to $119.1 billion.
In the Corporate News today, Yahoo Japan Corp. (T:4689) added 3.91% or 28.0 points to end at 745.0 and Nippon Telegraph & Telephone Corp (T:9432) was up 3.31% or 73.5 points to 2295.5. Dialog Semiconductor (DE
LGS) jumped 5.4% to the top of STOXX 600 after it forecast better-than-expected revenue in its third quarter. shares of Tesco TSCO, 2.80% rose over 2% after the U.K. grocer reported higher pretax profit for the first half of fiscal 2021 as revenue rose. Shares of Rolls-Royce Holdings RR, 2.83% jumped 8%, and were poised for a third-straight session of gains. The engineering company’s shares jumped 12%, on Tuesday, a day after the company announced a £1 billion ($1.3 billion) convertible bond offering and winning a contract in India.
On the data front, Traders will look to minutes from the ECB and Fed’s most recent meeting and comments from several Fed speakers for further signs of how central bankers view the outlook. Investors now await data from the U.S. Energy Information Administration, due later in the day. USD FOMC statement is scheduled to release at 14:00 local time today. USD crude oil inventories will be released at 10:30 local time, previous figure was 0.294M and forecast is -1.980M.
In the currency market ,EUR/USD was down by 0.02% to 1.1732 . The AUD/USD was up by 0.17% to 0.7119 and the NZD/USD pair edged up by 0.08% to 0.6592.. The GBP/USD pair inched up by 0.06 % to 1.2885, at the time of writing.
In the Commodity Markets, Gold prices declined by1.12% to $1,887.50 ,on Wednesday . Spot gold (XAU/USD) was up by 0.32% at $1,822.09 per ounce. Elsewhere, silver futures fell1.53% to $23.430 per ounce and platinum climbed up1.23 % to $867.74, while palladium edged 0.18% lower to $2,376.60, at the time of writing. .
U.S. West Texas Intermediate crude futures climbed down by0.18 % to 39.85 per barrel. Brent crude futures also climbed down by 1.62%, to $41.96 a barrel.
In the Cryptocurrency Markets, BTC/USD inched down by 1.86% and was trading at 10,585. Ethereum was also down by 4.72% to $336.33. Litecoin too declined 2.11% to 45.595, and Dash inched down by 3.69 % to 65.59,at the time of writing.
EURUSD
TRADE SUGGESTION- BUY AT 1.17589 TAKE PROFIT AT 1.18365 AND STOP AT 1.16756
GBPUSD
TRADE SUGGESTION – BUY AT 1.29176, TAKE PROFIT AT 1.30281 AND STOP AT 1.27913
USDJPY
TRADE SUGGESTION- BUY AT 105.864, TAKE PROFIT AT 106.129 AND STOP AT 104.578
NZDUSD
TRADE SUGGESTION- SELL AT 0.65926, TAKE PROFIT AT 0.65752 AND STOP AT 0.66248
NASDAQ 100 INDEX
TRADE SUGGESTION- BUY AT 11341.91, TAKE PROFIT AT 11619.32 AND STOP AT 11015.87
BRENT CRUDE OIL FUTURES
TRADE SUGGESTION- BUY AT 42.12, TAKE PROFIT AT 43.83 AND STOP AT 40.27
GOLD
TRADE SUGGESTION- SELL AT 1895.90, TAKE PROFIT AT 1874.77 AND STOP AT 1912.81
BTCUSD
TRADE SUGGESTION- SELL AT 10600.03, TAKE PROFIT AT 10454.22 AND STOP AT 10785.70
