US stock indices resume their bullish trends. The US dollar falls for a third straight session while Asia Pacific equities show mixed performances. The Yen and Aussie dollar outperform.
AUD and JPY outperform, US stock indices hold firm, Asia Pacific markets mixed
The US stock indices resumed their respective bullish trends on Monday, 8 September, and ended the US session with modest gains. The top performer was the tech-heavy Nasdaq 100 with an intraday rally of 0.5%, followed by the Dow Jones Industrial Average (0.3%), S&P 500 (0.2%), and Russell 2000 (0.2%).
Asia Pacific equities delivered mixed performances today. Hong Kong’s Hang Seng Index notched its third straight gain, rising 0.7% intraday, while Japan’s Nikkei 225 reversed an early 1.2% surge to a fresh all-time high of 44,186, closing the session down -0.4%.
In the FX market, the US dollar has continued to weaken further. The US Dollar Index has fallen for three consecutive sessions, and the greenback has extended its losses in today’s Asia session. The US Dollar Index shed -0.1% and hit a seven-week low of 97.37, which is just above a key long-term support level of 97.30.
The top-performing major currencies against the US dollar at this time of writing are JPY (0.3%) and AUD (0.2%). Interestingly, the Aussie dollar has chosen to ignore today’s lower-than-expected consumer and business confidence data releases for Australia and continued to march higher due to the upcoming Fed dovish pivot next week.
Our YouTube video above contains more insights and the latest intraday technical analysis on our Chart of the Day, EUR/USD
