(MENAFN- DailyFX) Talking Points:
Asian stocks lacked direction on a slow news day for the region The gained support from Janet Yellen' latest public remarks Oil prices are holding up, with Brent leading the way Just getting started in the trading world? Our is here to help
Asian stocks were mixed Wednesday as investors parsed the latest comment from US Federal Reserve Chair Janet Yellen.
Hopes were also raised of lower US corporation and individual taxes after hosted a bipartisan round table discussion on tax policy at the White House. For her part stuck with a modestly hawkish tone and, when she had finished speaking, the chances of an interest rate rise in December was still priced at well above 70%.
In a day of scant Asian economic news the was among the day's fallers, slipping 0.3%. The was also down, by 0.1%. Chinese stocks bucked the trend with the Shanghai Composite up by 0.1%.
The US Dollar found support in that Yellen speech, especially the part in which the Fed Chair said it was prudent to continue gradual rate rises despite some economic uncertainties. The remained under a bit of pressure but was above the 5-week low hit Tuesday when investors worried about more fractured European politics in the wake of Germany's election.
were weaker, as they often are when the greenback rises. edged up, still supported by supply worries centred on the Kurdish region of Iraq
The remainder of the day's economic data schedule has a decided US bias. Durable-goods orders, mortgage applications, pending home-sales levels and crude oil inventory figures are all coming up from the world's largest national economy.
--- Written by David Cottle, DailyFX Research
Contact and follow David on Twitter:
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.