Asian Markets’ Monday Situation

China New

Most Asian markets open lower except China after federal open market committee (FOMC) leaves interest rates near zero last week. Japanese Yen opened lower against Euro at 135.34 as Japan celebrate her Bank Holiday today, Eur-Jpy gained 0.13 percent to peak at 135.70.

The single currency gained against all majors after the announcement of Alexis Tsipras, as the new Prime Minister of Greece. Euro-GBP gained 0.13 percent at 02:10:57 p.m. Asian time.

Shanghai SE Composite rose 1.30 percent to 3,1382.26 value on Monday bringing its yearly gain to 34.72 percent, the index continue to struggle amid global economic rout after losing 40 percent of its gained profit in the last 4 months. Shanghai SE A Share Index gained the most, 2.32 percent at 02:14:05 p.m.

Crude oil continues it rally and currently trading above $45.30 to a single barrel, the commodity that was traded as low as $43.57 last week gained 1.34 percent on Monday. According to Bloomberg report, hedge funds are slashing their previous bets on falling oil prices after OPEC called for a return to $80. This marked the most bullish trend in two months.

Gold spot also gained 0.11 percent to 1,138.93 USD/t oz.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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