Asian shares were mostly lower Monday as last week’s bullish sentiment showed signs of slowing down. Japanese markets were down by almost 1%.
Trading across other emerging Asian stocks markets remained subdued despite a better-than-expected economic reading from China, the region’s largest trade partner, as weaker U.S. retail sales and rising global coronavirus cases kept investors cautious.
Australian shares ended lower on Monday, as the emergence of a fresh COVID-19 cluster in the state of New South Wales and news that the country may not fully reopen its international borders this year despite the vaccination drive dented sentiment.
A big theme that most traders will likely be watching ahead this coming week is what happens with the US fiscal policy as Joe Biden prepares to be sworn in as the 46th US president. Some investors consider that some of the losses in equities last week may have been as a result of investors’ pricing in a slimmer than expected version of Biden’s USD 1.9 trillion relief package.
The week ahead is also quite busy, with earnings season in play: companies like Bank of America, Morgan Stanley, Netflix and Intel are reporting. Soft results from Wells Fargo and JP Morgan this past week may foreshadow another round of dismal figures for bank companies ahead.
The Euro, Japanese Yen and Canadian Dollar are eyeing the ECB, BoJ and BoC respectively. Chinese fourth-quarter GDP will have key insights into the state of global growth. Will a jobs report bring about volatility in Australian Dollar? Europe is going to update economic sentiment indicators. What else is to be expected for financial markets ahead?
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Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.
Notely Trading Limited is an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number 383/20, registration number HE394425 and with registered office at 30 Karpenisiou, 1077 Nicosia, Cyprus. The Company is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.00% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Read our Risk Disclosure.
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