The US Dollar Is On The March As Asia's Stock Markets Swoon

Markets Appear Unable To Sustain Themselves Without Central Bank Liquidity Support

The US Dollar Is On The March As Asia's Stock Markets Swoon

By AxiTrader (Greg McKenna)ForexDec 07, 2017 12:01

au.investing.com/analysis/the-us-dollar-is-on-the-march-as-asias-stock-markets-swoon-200196991

The US Dollar Is On The March As Asia's Stock Markets Swoon

By AxiTrader (Greg McKenna) | Dec 07, 2017 12:01

Saved. See Saved Items.

This article has already been saved in your Saved Items

Originally published by AxiTrader

Asian stock weakness was mildly resisted by European and US equity traders with markets finishing off their lows. But the fall in Asia's stocks and the weakness it speaks to, leaked into the region's currencies over the past 24 hours with the US dollar stronger across the broad spectrum of AsiaForex.

USDKRW is back above 1090 and sits at 1092 this morning, the Singapore dollar is likewise a little weaker at 1.3487 and closing n on the 1.35 level I've highlighted as the one which would confirm that the region's currency outlook is, in fact, turning rather than simply churning through a range.

The actual level of the downtrend this morning is 1.3511. A break of that level would be a decisive move for USD/SGD and signal it and the rest of the region's currencies have turned the corner and are now looking like they will lose ground against the US dollar.

USD/KRW looks like it has already turned but similar levels to watch include 13,545 for USD/IDR, 4.0880 for USD/MYR, 50.85 for USD/PHP and 64.60/65 for USD/INR.

Anyway, here's USD/GD.

Chart

Looking at stocks now and it was a poor day for Asia's bourses.

The KOSPI was pole-axed and closed right on the lows of the past couple of weeks. It's at 2475 this morning and needs to hold the 2,466 level which is the 38.2% retracement level of the big rally from 2314 if it is to avoid a deeper retracement.

Likewise, the Nikkei, China A50, Straits Times, and Hang Seng all have had a poor performance recently and then again yesterday.

The Nikkei really needs to hold above the 21,950/22,000 support zone while the Hang Seng closed right on support yesterday.

It has to hold above 28,128 (in MT4, futures) terms in order to forestall a deeper retracment.

It's no understatement to say today is a big day for Asia's bourses. Another day of weakness, especially if major levels give way, and the buy-the-dip crowd in Europe and the US might find it hard to gain traction.

Anyway, here's the Hang Seng.

Chart

Have a great day's trading.

Add a Comment

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically.
Use standard writing style. Include punctuation and upper and lower cases.
NOTE: Spam and/or promotional messages and links within a comment will be removed
Avoid profanity, slander or personal attacks directed at an author or another user.
Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read and understood Investing.com AU's comment guidlines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<div class="flag js-flag">
		<a href="javascript:void(0);" id="commentFlag_{commentID}">
			<span class="commentFlagIcon " title="Report"></span>
		</a>
	</div>
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d70-invdn-com.akamaized.net/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<div class="flag js-flag">
		<a href="javascript:void(0);" id="commentFlag_{commentID}">
			<span class="commentFlagIcon " title="Report"></span>
		</a>
	</div>
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d70-invdn-com.akamaized.net/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d70-invdn-com.akamaized.net/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

</div>
			
		</div>
		</div>
    </div>
			</div>
			<div id="show-more-comments">
				<a class="showMoreComments block">
					<span class="arial_12 showArrowafter">Show more comments (<span class="js-amount"></span>)</span>
				</a>
			</div>
			<div id="show-more-replies">
				<a class="showMoreReplies block">
					<span class="arial_12 showArrowafter">Show more replies (<span class="js-amount"></span>)</span>
				</a>
			</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

I feel that this comment is:

Spam

Offensive

Irrelevant

Thank You!

Your report has been sent to our moderators for review

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Central Banks

Interest Rates

Next Meeting

RBA

1.50%

Nov 06, 2018

BOE

0.75%

Nov 01, 2018

ECB

0.00%

Oct 25, 2018

FED

2.25%

Nov 08, 2018

SNB

-0.75%

Dec 13, 2018

BOC

1.50%

Oct 24, 2018

RBNZ

1.75%

Nov 07, 2018

BOJ

-0.10%

Oct 31, 2018

CBR

7.50%

Oct 26, 2018

RBI

6.50%

Dec 05, 2018

PBOC

4.35%

BCB

6.50%

Oct 31, 2018

S&P/ASX 200	5,843.10	-61.80	-1.05%
ASX 200 Futures	5,780.0	-102.0	-1.73%
ASX All Ordinaries	5,944.90	-61.30	-1.02%
S&P 500 Futures	2,714.25	-42.25	-1.53%
Dow 30	24,938.18	-379.23	-1.50%
China A50 Futures	11,189.0	-11.0	-0.10%
US Dollar Index	95.60	-0.15	-0.16%
Bitcoin Futures	6,400.0	+10.0	+0.16%

Crude Oil WTI	66.00	-3.17	-4.58%
Natural Gas	3.200	+0.062	+1.98%
Gold	1,236.10	+14.90	+1.22%
Silver	14.785	+0.129	+0.88%
Copper	2.753	-0.021	-0.76%
US Sugar #11	13.86	+0.04	+0.29%
US Coffee C	121.22	+3.57	+3.03%
Aluminium	2,002.00	-2.00	-0.10%

AUD/USD	0.7078	-0.0004	-0.06%
EUR/USD	1.1483	+0.0018	+0.16%
USD/JPY	112.16	-0.65	-0.58%
GBP/USD	1.2990	+0.0025	+0.19%
GBP/JPY	145.69	-0.59	-0.40%
AUD/JPY	79.39	-0.51	-0.64%
USD/CAD	1.3096	-0.0005	-0.04%
GBP/AUD	1.8352	+0.0049	+0.27%

BTC/USD	6,565.0	-4.9	-0.07%
ETH/USD	204.16	-2.09	-1.01%
IOT/USD	0.49596	-0.00194	-0.39%
LTC/USD	51.810	+0.150	+0.29%
BTC/AUD	8,885.3	-210.0	-2.31%
BCH/USD	446.86	-7.14	-1.57%
MCO/USD	4.4268	-0.0000	-0.00%
XRP/USD	0.44947	-0.01183	-2.56%

The US Dollar Is On The March As Asia's Stock Markets Swoon

Related Articles