Breaking News

Asian markets rally on China trade data, dollar edges up

News Date: 13/1/2016 01:07:57
Update Date: 13/1/2016 01:09:51
Chinese trade data surprised investors on the upside, with exports falling only 1.4% y/y in December, much less than the 8% drop expected, and better than November's 6.8% slide. Imports fell 7.6%, compared to forecasts of a 11.5% drop. The reliability of the data was brought under questions, but markets nonetheless cheered them, with Japan's Nikkei surging 2.85% from a year-low, while Australia's S&P/ASX 200 index jumped 1.26%. Korea's KOSPI gained 1.52%. However, China's investors themselves ironically weren't impressed enough, with the shares' earlier gains evaporating and recording a loss of 0.30%.

Wall Street closed on high a note, after data showed job openings rise to 5.43 million in November, compared to October's 5.35 million jobs. The Dow Jones muscled up 117 points, or 0.72% to 16,516. NASDAQ rose 47 points, or 1.03% to 4,685, while S&P 500 added 15 points, or 0.78% to 1,938.

Safe haven currencies lost their appeal after the good China data, with the dollar taking instant advantage and rising 0.20% against a basket of its peers to 99.21. Dollar climbed 0.27% against the euro to 1.0832, while adding a solid half a percent against the yen to 118.28.

Oil got some support after China imported record amounts of the commodity last month, with U.S. West Texas Intermediary (WTI) crude futures jumping 40 cents, or 1.26% to $30.83, after dipping below $30 yesterday for the first time in 12 years. Brent crude futures however gave up 14 cents, or 0.46% to $31.25 a barrel.

Investors await a host of data later; with the Eurozone's industrial production for November on the forefront, expected to fall 0.3% m/m after growing 0.6% in October, which would be negative on the euro.

The official U.S. crude inventories survey will be released, expected to show an increase of 1.9 million barrels for the week ending in Jan.8, which would be negative for oil prices.

Latest news

Gold futures rose for December delivery according to the Asian session on Friday. As it increased by 0.47%, to be traded at the price of 1959.00 dollars per ounce, and it was previously traded at a
09-2020 18 06:02:31

Oil prices rose this morning, due to the halt in oil and gas production due to a hurricane in the United States of America, as the price of crude oil increased by approximately 1.5%, reaching 41.13 d
09-2020 16 06:30:20

We open the trading week with a rise in gold prices today, after it witnessed a decline in the last days of last week, as it is a safe haven for investors, especially when crises that negatively affe
09-2020 14 06:22:57

Gold prices experienced a remarkable decline at the beginning of the week after it concluded its Asian trading at a high, affected by the great rush of investors, if this morning the gold futures con
08-2020 31 08:11:31

We start today's events, Tuesday, by the rise in oil prices affected by the easing of precautionary measures to combat turquoise corona in the world. US West Texas crude futures are expected to decre
08-2020 26 04:51:45

More News