A 1.6% bounce in the Nikkei has led Asian shares higher so far today as the yen skids on pretty much all the major crosses. Since the threat of intervention has capped the dollar at 152.00 yen, investors feel safe in selling the yen against everything else. Even the Canadian dollar reached a 16-year peak versus the Japanese currency, helped in part by the recent sustained rise in oil prices.
Copper may have been boosted by China's moves to promote auto trade-ins and scrap government-set minimum down payments for consumers financing new car purchases. Autos, particularly EVs, are big users of copper. Gold seems to be benefiting from buying by momentum funds and commodity trading advisors (CTAs) since its clean break of $2,072 resistance. There's also a sense that investors are concerned at the mountain of debt global governments are issuing, seeking to put money in assets that are limited in quantity
Source: Digital Coin News (digitalcoinnews.net)
Asian Shares Yen Gold Copper Auto Trade-Ins Debt Global Governments
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Asian shares mostly lower, Japan's Nikkei 225 falls 2.5%BEIJING (AP) — Asian shares were mostly lower on Monday after Wall Street’s huge rally faltered last week. Japan’s Nikkei 225 index shed 2.5% to 38,704.10...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
China Copper Smelters to Discuss Fees as Crisis Roils SectorLeading Chinese copper smelters may discuss production plans at a quarterly meeting next week after plunging processing fees threatened to wipe out their profits in a major challenge for the industry.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Copper Fees Plunge Close to Zero in Test For China’s SmeltersChina’s copper smelters are at a critical juncture after fees for processing imported ore collapsed to single figures, raising focus on whether they will keep resisting pressure for production cuts.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Copper Rises on Nascent Optimism Over Outlook for China EconomyCopper advanced to the highest level in more than a week as investors weighed upbeat factory data from top consumer China and the potential for output cuts by the country’s leading smelters.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Asian Stocks Climb Most in Four Months on Fed, China EarningsA key measure of Asian stocks rose to its highest level since April 2022, powered by technology companies and the Federal Reserve’s supportive comments on the outlook for US interest-rate cuts.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Stock market today: Asian shares are mixed and Shanghai gains on strong China factory dataBANGKOK (AP) — Asian shares were mixed on Monday, with Shanghai gaining 1% after surveys showed improvements in manufacturing conditions in China. Sydney and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »