Asia Stocks Await US Midterm Results as US Dollar Sits on Support

Asia Pacific Market Open – New Zealand Dollar, British Pound, US Dollar, US Midterms

  • The New Zealand Dollar soared on jobs report while British Pound rose on Brexit latest
  • Asia Pacific benchmark stock indexes await the results of the 2018 US midterm elections
  • As those cross the wires, the US Dollar is sitting right on support, may rise to resistance

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The New Zealand Dollar soared against its major counterparts towards the final moments of Tuesday’s trading session. Kiwi Dollar was lifted by an impressive jobs reports, which along with a better-than-expected third quarter CPI report, may cause the RBNZ to shift its forward guidance towards favoring a rate hike instead of a balanced view. This could add momentum to NZD/USD’s near-term uptrend.

Meanwhile the British Pound edged cautiously higher against its major counterparts. Brexit Minister Dominic Raab gave a ‘thumbs up’ on his way out of a cabinet meeting. The anti-risk Japanese Yen underperformed as Wall Street finished the day mostly higher, the SP 500 rose about

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2018/11/07/Asia-Stocks-Await-US-Midterm-Results-as-US-Dollar-Sits-on-Support.html