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Asian stocks trade mixed with a positive bias as KOSPI leads gains
Asian stocks were mixed with a positive bias on Monday, driven by optimism that a new OpenAI model will spur demand for memory chips. This momentum followed Friday's rally among US semiconductor and memory stocks as broader sentiment toward the sector improved.
Japan Leading Economic Index came in at 117.9 below forecasts (118.1) in July
Japan Leading Economic Index came in at 117.9 below forecasts (118.1) in July
Japan Coincident Index increased to 120.6 in July from previous 118.5
Japan Coincident Index increased to 120.6 in July from previous 118.5
Singapore Retail Sales (MoM): 0.9% (July) vs previous 1%
Singapore Retail Sales (MoM): 0.9% (July) vs previous 1%
Singapore Retail Sales (YoY) dipped from previous 4%Â to 1.5% in July
Singapore Retail Sales (YoY) dipped from previous 4%Â to 1.5% in July
GBP/USD Price Forecast: Struggles near 1.3500 amid modest USD uptick; bears seem hesitant
The GBP/USD pair trades with a negative bias for the second straight day, though it lacks bearish conviction and trades around the 1.3500 psychological mark during the Asian session on Monday. Moreover, spot prices hold above Friday's swing low, warranting some caution for bearish traders.
Indonesian Rupiah weakens as Fed rate hike odds lift US Dollar
USD/IDR extends its gains for the second successive day, trading around 17,700 during the Asian hours on Monday.
EUR/JPY Price Forecast: Declines below 181.50 with emerging oversold RSI
The EUR/JPY cross trades in negative territory around 181.20 during the early European trading hours on Monday. The Japanese Yen (JPY) strengthens against the Euro (EUR) as Japanese official projected a Bank of Japan (BoJ) rate hike this month.
Swiss Franc weakens as US Dollar strengthens on Fed rate hike bets
USD/CHF gains ground for the second successive day, trading around 0.8110 during the Asian hours on Monday.
EUR/USD Price Forecast: Holds key 100-day SMA at start of the US CPI week
The Euro (EUR) trades marginally lower at around 1.1610 against the US Dollar (USD) during the Asian trading session on Monday. The major currency pair edges down as the US Dollar ticks up, with investors turning cautious at the start of the United States (US) Consumer Price Index (CPI) week.
AUD/USD Price Forecast: Consolidates around 0.7200; bullish potential seems intact
The AUD/USD pair holds steady around the 0.7200 mark at the start of a new week and remains close to its highest level since mid-May, touched on Friday.
New Zealand Dollar edges lower as Fed rate hike bets and Iran tensions underpin USD
The NZD/USD pair attracts some sellers during the Asian session on Monday and currently trades near the 0.5870 region, down around 0.15% for the day. Spot prices, however, remain confined within Friday's broader range, warranting some caution for aggressive bearish traders.
Australia ANZ Job Advertisements rose from previous 0.8%Â to 2.5% in August
Australia ANZ Job Advertisements rose from previous 0.8%Â to 2.5% in August