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Asian stocks rise; Dollar stabilizes in cautious trading

News Date: 15/10/2015 01:28:06
 

 Asian stocks rose on Thursday, recovering after weak date from China pushed them down yesterday. Japan's Nikkei rose a robust 1.44% to 18,146. China's Shanghai Composite index rose 1.40%. Australia's S&P\ASX 200 index rose 0.57%. India's Nifty index rose 0.84%. Korea's KOSPI rose 1.18%.

 

U.S. stocks ended Wednesday on a low note, with Dow Jones shedding 0.92%. NASDAQ fell 0.29%. S&P 500 fell 0.47%. They're expected to recover today in tandem with their Asian counterparts, however.

 

Crude oil was largely flat in Asian trading, with Brent crude futures for December rising 8 cents, or 0.16% to $49.77 a barrel. U.S. crude futures fell an equivalent 8 cents, or 0.17% to $47.08 a barrel.

 

Dollar rose slightly against a basket of major currencies, with the U.S. Dollar index (DXY) rising 4 points, 0.4% to 93.95. Against Sterling is stabilized after a massive fall yesterday, it last traded at 1.5473. Against Yen it rose modestly after a three-day long fall, trading at 118.99. Against Euro it fell to a fresh 7-weak low to 1.1482.

 

Euro kept its push Against Yen, rising to 136.63. It recovered some of its losses against Sterling, trading at 0.7419.

 

Commodity-linked currencies rose on Thursday, with the Canadian dollar on the verge of a crucial breakout at 1.2915 against U.S. dollar. Australian dollar rose to 0.7350 before easing to 0.7315.

 

Spot gold rose $4.78, or 0.41, fetching $1,184 an ounce. Silver rose five cents, or 0.35% to $16.15 an ounce.

 

A raft of economic indicators will be released today. The U.S. Consumer Price Index (CPI) for September is coming out; forecast to have fallen 0.2% m\m. Core CPI (which excludes volatile energy and food prices) is expected to rise 0.1%, however.

 

The weekly U.S. unemployment claims report is slated for today, forecast to have reached 269K, higher than the previous week's impressively low number of 263K.

 

Also from U.S., crude oil inventories numbers are released today, forecast to have grown 2.2m, breaking the forecast will spill trouble for oil prices and commodity-linked currencies specially the loonie.   

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