Stock markets in Asia are moving forward, led by Japan, whose shares are surging to prices not seen in decades as the country experiences a post-Covid boom.
- As the week begins Asian stock markets are higher led by Japanwhich is experiencing a strong bull market in stocks as the country experiences an economic boom after fully reopening after Covid. Japanese stock indices such as Nikkei 225 are driving themselves to a level not seen in decadeswhich will be of interest to trend traders.
- Yesterday’s OPEC meeting ended with an agreement that Saudi Arabia would cut oil production by 1 million barrels, which boosted the price of oil.
- On the forex market, the US dollar is rising againagainst its long-term bearish trend. Action so far today has been dominated by weakness in the Swiss franc and strength in the Australian dollar. However, trend traders will likely still look for long trades in USD/JPY a currency pair that recently hit a new 6-month high while being short NZD/USD it may also be attractive below the big round number of $0.6000.
- Two important dates will be released later today:
- The Swiss CPI expects a month-on-month increase of 0.3%.
- US ISM Services PMI