Choose your trading platfom

Asia Pacific leads

Industrial commodities and European shares rose in overnight trading, following Asia Pacific markets higher. Commentators are pointing to trade optimism, but the gains merely extend recent global investor support for the region. The US dollar held ground despite the Presidents’ Day holiday, although ongoing support for gold indicates a background level of fear.

Copper, iron ore and steel gains point to improving industrial sentiment. Oil prices broke through recent highs to confirm a new uptrend, and commodity currencies and Materials stocks are a likely short term focus for traders. The tilt to growth is focussed on the more traditional industrial and consumer spaces, and tech is lagging.

Australian reporting today includes mining giant BHP, newly independent grocer Coles and medical appliance manufacturer Cochlear. Overall share market action over the last week was driven by company announcements, and trading today could follow the same pattern.

Disclaimer: CMC Markets Singapore may provide or make available research analysis or reports prepared or issued by entities within the CMC Markets group of companies, located and regulated under the laws in a foreign jurisdictions, in accordance with regulation 32C of the Financial Advisers Regulations. Where such information is issued or promulgated to a person who is not an accredited investor, expert investor or institutional investor, CMC Markets Singapore accepts legal responsibility for the contents of the analysis or report, to the extent required by law. Recipients of such information who are resident in Singapore may contact CMC Markets Singapore on 1800 559 6000 for any matters arising from or in connection with the information.