Asian Stock Market: Wall Street gains back bulls to battle covid woes in India, JapanNEWS |
4/22/2021 5:09:34 AM GMT | By Anil Panchal
Asian shares trade mostly positive amid virus concerns, economic recovery hopes.
China dwindles amid crackdown on tech stocks, Japan ignores fears of third emergency.
India reports record daily infection above 300K, unfortunately, surpasses all virus-infected countries’ previous readings.
BOC’s surprise tapering keeps traders hopeful ahead of the ECB, US dollar weakness also supports the upbeat mood.
Although US equities led the Asian counterparts high amid the early Thursday, the mood recently seems to sour as India marks the highest coronavirus (COVID-19) tally. Even so, most markets in the region remain to portray the biggest daily gains of the day.
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The Australian March Westpac Leading Index improved to 0.38% from 0.17%.
The better tone of American stocks helped the pair to bounce from a weekly low.
AUD/USD needs to advance beyond 0.7770 to become more attractive for bulls.
The AUD/USD pair trades around 0.7750, up for the day after falling to 0.7698, the lowest in a week. The pair advanced in the last trading session of the day, as demand for the greenback eased on the back of the better performance of stocks in the European and American sessions. Australian macroeconomic figures were generally encouraging, as the country published the March Westpac Leading Index, which improved to 0.38% from 0.17% in the previous month. Also, the preliminary estimate of March Retail Sales printed at 1.4%, recovering from -0.8% in the previous month and beating expectations of 1%.
Jan 27, 2021 01:47 GMTFXStreet News
AUD/USD adds 10 pips following the Aussie Q4 inflation data.
Australia’s CPI jumps 0.9%, bettering conensus estimate of 0.7% rise.
RBA’s trimmed mean matches estimates, Aussie’s Business Confidence index ticks higher.
The already bid Aussie dollar extends gains by 10 pips, printing a fresh session high of 0.7764, with the Australian Bureau of Statistics (ABS) reported better-than-expected fourth-quarter inflation figures. The previous session high was 0.7758.
CPI beats estimates
Australia’s Consumer Price Index (CPI) rose 0.9% quarter-on-quarter in the fourth quarter, beating the estimate of a 0.7% rise but down from the preceding quarter’s 1.6% rise. In December, the ABS had warned of an uptick in inflation due to a jump in childcare costs. The CPI rose 0.9% in annualized terms versus expectations of 0.7%.