Epic Research Singapore : Forex Market Update

The dollar also edged lower against other rivals as investors digested mixed U.S. economic data released recently, including a 0.3% drop in industrial production, unchanged consumer sentiment in February, and an unexpected fall of 0.4% in retail sales in January, which has sparked some concerns that the U.S. economic recovery is losing steam.
The British pound GBPUSD +0.14%   advanced to $1.6790 from $1.6748 late Friday, and the euro EURUSD +0.07%   moved higher to $1.3710 from $1.3698.

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Epic Research Singapore : Forex Market Update

The dollar lost ground against the Japanese yen and other major currencies on Monday, as recent weakness in Japan equities hurt investors’ risk appetite and disappointing U.S. data triggered concerns for a slowing economic recovery. 

Against the yen, the dollar USDJPY -0.03%   dropped to ¥101.56 from ¥101.81 late Friday, even as the Nikkei Average JP:NIK +0.56%  managed to end with a 0.6% gain Monday.
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Epic Research Singapore : U.S Market Update

Asian markets rose on Monday, with Hong Kong leading the region higher, while Japanese stocks were weighed by the release of disappointing growth numbers.

Hong Kong’s Hang Seng Index added 1.2% and the Shanghai Composite rose by 0.3%, after Chinese bank loans jumped more than expected in January, with financial institutions issuing 1.32 trillion yuan ($217.6 billion) worth of new loans last month. Although Chinese banks typically make more loans at the beginning of the year, it was interpreted by the market that demand in the economy is strong

The yen started to strengthen when the data was released, with the dollar last at ¥101.58 compared with ¥101.80 late Friday in New York. This added to the dollar’s 0.4% loss on Friday.

 

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Epic Research Singapore : Market Update

Japan (Nikkei Average) up 0.6%
Hong Kong (Hang Seng Index) up 0.9% (at break)
Shanghai (Shanghai Composite Index) up 0.5% (at break)
Sydney (S&P/ASX 200) up 0.4%
Seoul (Kospi) up 0.3%
Mumbai (Sensex) up 0.5%
Taipei (Taiex) up 0.2%

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Epic Research Singapore : Forex Market Update

The dollar USDJPY +0.24% rose to ¥102.27 from ¥102.10 late Thursday. For the week, the dollar gained 0.3% against the yen.
The euro EURUSD +0.33% rose to $1.3637 from $1.3588, while the British pound GBPUSD +0.56%  increased to $1.6418 from $1.6323 late Thursday. For the week, the pound fell 0.2% against the greenback.






 
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Epic Research Singapore : Forex Market Update

Japan’s Nikkei Stock Average rose 0.3% to 14216.17, getting a boost from a weaker yen. The Japanese currency was trading at ¥101.50 to the U.S. dollar in early Asian trade, from ¥101.35 late Wednesday in New York. Australia’s S&P/ASX 200 rose 1% to 5120.60 while Korea’s Kospi gained 0.8% to 1906.45.  

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Epic Research Singapore : Nikkei 225 Index

Just 20 minutes out from the close, and the Nikkei Average JP:NIK  was up 0.4%. But then those modest gains suddenly evaporated, leaving the benchmark with a 0.2% loss. Outside of the big blue chips though, it was a little better, with the Topix (representing all Tokyo-listed large caps) ending flat.
 
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