Asian Stocks Look Set for Gains; Dollar Slips: Markets Wrap

Stocks in Asia looked set to claw back some of Monday’s losses as investors awaited further developments on a trade deal and kept an eye on the volatile situation in Hong Kong. The dollar fell for the first time in six days. Futures pointed higher in Tokyo and Hong Kong, where shares dropped as much as 3% Monday to lead a slide in regional markets on continued unrest in the city. Australian stocks opened little changed. In the U.S. futures were flat after the S&P 500 Index dropped for the first time in four sessions on below-average volume. Treasuries were closed for the Veterans’ Day holiday. The pound rallied as Prime Minister Boris Johnson’s efforts to leave the European Union got a boost from the Brexit Party. Read More

TECHNICAL CHART

KEY TAKEAWAYS

  • Price will be around MA200 before a new rally starts
  • 14th Nov 2019; BSP on interest rate cut from 4.25 – 4.0 (0.25 basis point cut)
  • Market expected to rally
  • If there is no cut – market will continue sideways

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Article by: Ashok MBA Financial Services Strategic Coach

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