Australia's central bank keeps rates steady

Daily Analysis - 02/04/2019

Asia markets going higher


On Tuesday Asia markets rose following last night increases on Wall Street. The jump happened while fears over a potential global economic retardation eased. However, equities lost some of their profits in the morning and evening trade. South Korea's Kospi index went up 0.3%.

Australia's ASX 200 went also up more than 0.40% while the heavily weighted financial subindex scored about 0.70%. Hong Kong's Hang Seng index lost most of its early profits and went flat.

The Shanghai composite raised 0.25% while the Shenzhen composite got more than 0.40%.

The Nikkei 225 in Japan expanded more than 0.30%while the Topix index traded flat.

DOW got more than 300 points

On Monday Stocks rose while solid manufacturing data out of the U.S. and China released concerns of a probable global economic retardation.

The Nasdaq Composite ended 1.3% increase at 7,828.90 on earnings from Alphabet Amazon, Facebook, and Netflix. The Dow Jones Industrial Average grew about 329 points to 26,258.40, driven by increases in united Technologies, J.P. Morgan Chase and CAT. Yesterday was Dow's first close over 26,000 since 2 months ago. The S&P 500 rose more than 1.2% to 2,867.19.


Gold down to almost a month low

On Tuesday Gold went up but was exchanging near an almost a month low reached in the previous session while the greenback and equities increased. U.S. gold futures fell about 0.1% at $1,293.39 an ounce.

The dollar went up about 0.1% versus important competitors, trading close to a three-week high.

Spot gold advanced 0.1% to $1,288.29 per ounce following a touch of its lowest level since last month at $1,286.20 in the previous session.


Iran sanctions boosted oil prices

On Tuesday, Oil prices climbed to new tops for 2019 following a U.S. official statement that the U.S is examining the possibility to issue more penalties on Iran. After that an important Venezuelan export terminal paused services.

Oil prices were also hit by a Reuters study revealing that OPEC oil supply fell to a four-year low last month. Also, positive numbers from the United States and China supported the clime. U.S. West Texas Intermediate (WTI) futures went up 28 cents to $61.86 a barrel.

Brent crude climbed 26 cents, to $69.26 a barrel having earlier reached $69.28, a new high for this year.


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