Forex Market News Today
  • Home
  • News
  • LiveHourly
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies
No Result
View All Result
Forex Market News Today
Home Live

Edging Higher with Fading Momentum

3 months ago
in Live
4 min read
Edging Higher with Fading Momentum
Share on FacebookShare on Twitter


DOW JONES, HANG SENG, ASIA-PACIFIC MARKET OUTLOOK:

  • US equity indices climbed to their record highs even though nonfarm payroll data disappointed
  • Asia-Pacific stocks opened mixed, with ASX 200 edging higher while the Nikkei 225 and Hang Seng opened flat
  • The US may soon start deploying the coronavirus vaccine, raising hope for a faster economic recovery

Jobs Data, Vaccines, Asia-Pacific Stocks Weekly Outlook:

Asia-Pacific stocks look set to follow a strong US lead on Monday, although upward momentum appears to have faltered recently. A much lower-than-expected US nonfarm payrolls number reflected the deeper impact brought by the pandemic, and thus reignited hopes for more fiscal and monetary support. Some 245k nonfarm jobs were added last month, much lower than the baseline forecast of 469k. This also marks a fifth consecutive monthly slowdown in the pace of job market expansion. The unemployment rate fell to 6.7% from 6.9% in a month before, largely due to a 0.2% decline in the labor force participation rate.

US Nonfarm Payroll – 12 months

Dow Jones, Hang Seng Weekly Open: Edging Higher with Fading Momentum

Source: Bloomberg, DailyFX

Major western economies are on course to deploying coronavirus vaccines, with the UK giving the green light to the distribution of Pfizer’s version last week. US Health and Human Service Secretary Alex Azar said all Americans should be able to get vaccinated by mid next year and that the distribution could start as early as this week.

Vaccine hopes and weaker job market data sent three major US indices to their record highs on Friday. The next question may be where the US Dollar will lead stock markets to if the rollout of vaccines helps to revitalize growth and buoy inflation in the months to come. The US Dollar and the S&P 500 index exhibited high negative correlation over the past 12 months, with a correlation coefficient of -0.80. A severely oversold US Dollar flags risk for a technical rebound that may weigh on the stock markets’ rally. Read more in my USD-S&P 500 report here.

Asia-Pacific stocks have capitalized on recent tailwinds, but upward momentum appears to have faltered after scoring astonishing gains in November. Trading towards the year-end may be quieter due to seasonality and holiday reasons. The Nikkei 225 index registered a 10-year average monthly return of 0.93% in December, marking its fifth-worst-performing month. For Australia’s ASX 200 index and Hong Kong’s Hang Seng Index, the 10-year average returns in December are 1.31% and 0.46% respectively.

Equities Forecast

Equities Forecast

Recommended by Margaret Yang, CFA

What is the road ahead for equities this quarter?

Sector-wise, 8 out of 9 Dow sectors closed in the green, with 80.0% of the index’s constituents ending higher on Friday. Energy (+3.88%), materials…



Go to the news source: Edging Higher with Fading Momentum

Tags: EdgingFadinghigherMomentum
Previous Post

Experts Explain: Understanding the nature of India’s economic recovery

Next Post

The US ‘audit war’ on Chinese companies; in-depth with Long Yongtu, China’s trad…

Related Posts

LIVE: FM-led meeting discusses post-budget action points for infra roadmap
Live

LIVE: FM-led meeting discusses post-budget action points for infra roadmap

by Forex News
February 26, 2021
0

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman in a virtual meeting today with CEO, NITI Aayog and...

Read more
EUR/USD and GBP/USD stabilise as USD/JPY slips below ¥103 | Levels to Watch
Live

EUR/USD and GBP/USD stabilise as USD/JPY slips below ¥103 | Levels to Watch

by Forex News
February 26, 2021
0

USD/JPY still in retreat The downtrend of USD/JPY continues to deliver, as the price slips below ¥103 once more...

Read more
Indices log biggest 1-day fall in 9 mths; Sensex sinks 1,939 pts, holds 49K
Live

Indices log biggest 1-day fall in 9 mths; Sensex sinks 1,939 pts, holds 49K

by Forex News
February 26, 2021
0

Stock market updates: A steep hike in US treasury yields took the global markets by surprise on Friday as investors...

Read more
Sensex Crash Today: Stock Market LIVE Updates: Sensex tanks over 1,400 pts amid …
Live

Sensex Crash Today: Stock Market LIVE Updates: Sensex tanks over 1,400 pts amid …

by Forex News
February 26, 2021
0

!1 New UpdateClick here for latest updatesIf US bond yields go up to 2.5%-3% by the end of this...

Read more
Sensex drops 1,500 points, Nifty at 14,650; HDFC twins, SBI, IndusInd Bank top l…
Live

Sensex drops 1,500 points, Nifty at 14,650; HDFC twins, SBI, IndusInd Bank top l…

by Forex News
February 26, 2021
0

Sensex, Nifty LIVE Updates on February 26: After three straight sessions of gains, share market indices slipped majorly to...

Read more
In One Chart: Brazil, Nigeria and 34 other better places to live than U.S. durin…
Live

NewsWatch: Salesforce earnings live up to Benioff’s $20-billion goal, so now it’…

by Forex News
February 25, 2021
0

Posted by: Market Watch in Market News 2 mins ago Salesforce.com Inc. easily topped $20 billion for the first...

Read more
CIO Leadership: Leveraging Advanced Technologies to Drive Business Success Will …
Live

CIO Leadership: Leveraging Advanced Technologies to Drive Business Success Will …

by Forex News
February 25, 2021
0

Speakers and attendees in this interactive event will also explore the role of business technology executives in developing new...

Read more
Konexial Launches My20 LogiCam Ai – Providing Drivers and Fleets with Live Supp…
Live

Konexial Launches My20 LogiCam Ai – Providing Drivers and Fleets with Live Supp…

by Forex News
February 25, 2021
0

Partnership with HD Fleet powers My20 LogiCam Ai dashcam technology My20 LogiCam Ai™ My20 LogiCam Ai™ KNOXVILLE, Tenn., Feb....

Read more
Comprehending Forex Trading Signals | Live Bitcoin News
Live

Comprehending Forex Trading Signals | Live Bitcoin News

by Forex News
February 25, 2021
0

One of the most successful financial markets to boast of a high volume of daily trading is the Forex...

Read more
Powell teaches markets to live in peace with higher yields, GDP and other US dat…
Live

Powell teaches markets to live in peace with higher yields, GDP and other US dat…

by Forex News
February 25, 2021
0

Here is what you need to know on Thursday, February 25: Stock markets are back to "risk-on" after Fed...

Read more
Next Post
The US ‘audit war’ on Chinese companies; in-depth with Long Yongtu, China’s trad…

The US 'audit war' on Chinese companies; in-depth with Long Yongtu, China's trad...

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Latest Forex News

Live Foreign Currency Exchange Rates

Trickle-down economics is dead. It’s time to tax the rich harder | Executive pay…

2 months ago
US yield curve steepest since 2015 on stimulus hopes

US yield curve steepest since 2015 on stimulus hopes

3 weeks ago
Biden moves to provide COVID vaccine to pharmacies | Govt. & Politics

Biden moves to provide COVID vaccine to pharmacies | Govt. & Politics

4 weeks ago
Everything You Need to Know About Paramount Plus: What It Is, What It Means for …

Everything You Need to Know About Paramount Plus: What It Is, What It Means for …

2 days ago

Today Market News

Who qualifies for a $1,400 stimulus payment under the House bill
Economy

Who qualifies for a $1,400 stimulus payment under the House bill

February 27, 2021
Captain Tom Moore, 100-year-old UK fundraising hero, honored at funeral
World

Captain Tom Moore, 100-year-old UK fundraising hero, honored at funeral

February 27, 2021
Third stimulus check: How soon might you receive a $1,400 check?
Economy

Third stimulus check: How soon might you receive a $1,400 check?

February 27, 2021
Senate Democrats move immediately to “Plan B” on minimum wage
Politics

Senate Democrats move immediately to “Plan B” on minimum wage

February 27, 2021
3 Cannabis Stocks to Buy and Hold
Stock

3 Cannabis Stocks to Buy and Hold

February 27, 2021
Griddy banned from Texas power marker over payment breach
Energy

Griddy banned from Texas power marker over payment breach

February 27, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 Siteofforex.com

No Result
View All Result
  • Home
  • News
  • Live
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies

© 2020 Siteofforex.com

wpDiscuz