Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Asia market morning update - relief for Asia markets

Relief had spread through Wall Street at the start of the week, one to inspire Asia markets into this Tuesday session. The session ahead will also be one watching political developments on Brexit.

Source: Bloomberg

US retail sales aid

US markets concluded the losing streak last week with aid from the better-than-expected retail sales reading and the tech sector boost sending prices higher on Monday. It had only been of recent memory seeing the poor retail sales reading from December 2018, and alas the latest surprise, particularly from the ‘control group’ at 1.1% had been one to relief the markets of the growth worries and government shutdown implications. Feeding into the GDP computation, the control group’s reading had outperformed the market’s 0.3% expectation and marks the highest reading in four-years, dismissing last week’s worries to some extent. Concurrently, re-rating for Apple and Nvidia’s diversification have bolstered technology stocks.

The broad-based rally, whereby all sectors on the S&P 500 index concluded Monday in green, altogether marks a turn in sentiment that would be one to transpire to Asia. Prices across both the Dow and S&P 500 index had also both headed back up towards resistance levels. Perhaps the key to note today will be the February CPI data with any surprise on the upside still one to concern ourselves with in light of the implication for the data-driven Fed.

GBP topsy-turvy

Over and above data, it will be the start to politics watch as well, though as we have already seen overnight, the pound have had a wild ride. Read on the details we’ve penned out earlier on the successive votes expected. Notably, however, the latest progress seen had led to the downward plunge for EUR/GBP past the 0.8535 support, keeping the downtrend going. One to watch for continuation in the session ahead, though prices can be seen threatening oversold territory as of yet.

EUR/GBP Mini

Asia open

Amid the wave of gains on Wall Street at the start of the week, look to Asia markets to follow in those footsteps. A series of tier-2 data will be out in the region including the likes of the Singapore’s retail sales and China’s FDI data, but the focus goes ahead to the CPI numbers in the US to keep the strength going.

Yesterday: S&P 500 +1.47%; DJIA +0.79%; DAX +0.75%; FTSE +0.37%

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 40
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Tuesday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.