|

News

    Homepage   >     Industry    >     Main body

    Stocks Mostly Down On Fed Minutes, Japan Data. NZD Pressured Too

    Abstract:Equity investors waited nervously for the Jackson Hole symposium to start. While they did, Japanese manufacturing disappointed once again

      APAC Stocks, Talking Points:

    •   Indexes were mixed with only the ASX conclusively in the green

    •   Japanese manufacturing missed expectations again, while the Feds latest policy meeting minutes were parsed

    •   The US Dollar was supported, its New Zealand counterpart not so much

      Join our analysts for live, interactive coverage of all major economic data at the DailyFX Webinars. Wed love to have you along.

      Asia Pacific stocks were mostly lower on Thursday as Japanese data disappointed and investors continued to worry that the US Federal Reserve might not be as disposed to monetary easing as many would like.

      Australia‘s ASX 200 was the only major market to buck the day’s losing trend. It had added 0.4% as its close lose buoyed up by crowd-pleasing results from Pro Medicus and the Coles Group. Elsewhere cheer was much harder to find.

      Japanese equity struggled with news that the domestic manufacturing sector‘s output had contracted for a fourth straight month in August. The Jibun Bank flash Purchasing Managers Index came in once again below the crucial 50 mark which separates expansion from contraction. It was 49.5, just a tick above July’s print.

      The Nikkei 225 had been in the green, but it slipped back after the data to loiter around its opening level by the middle of the afternoon. Japans big manufacturers were resilient to the data but major electronics exporters like Sony sold off. The Shanghai Composite lost 0.2% while the Hang Seng shed 0.9%.

      The minutes of the Federal Reserve‘s last monetary policy meeting painted a rather balanced monetary picture. Rate-setters voted to cut borrowing costs on that occasion but agreed that the move should not be viewed as an indication that there was a ’pre-set course for more reductions.

      The US Dollar was supported, if modestly, perhaps by the Fed‘s apparent caution over future rate cuts but also, probably, by general market torpor before this week’s central bankers Jackson Hole get-together. That starts on Thursday and runs on into the weekend. It initially ticked lower against the anti-risk Japanese Yen only to recover some composure later.

      The New Zealand Dollar was very close to a new, three-year low against its US counterpart as investors remain pretty certain that its central bank, at least, remains in dovish frame of mind after this months shock, half-percentage-point rate cut.

    New

      August 7s intraday low point of 0.6377 looks like being broken on an intraday basis Thursday/

      APAC Stocks Resources for Traders

    Latest News

    Australia Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    Australia Dollar
    Convertible Amount
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.

    ×

    Select Country/Area