Home / Market Update / Market Drivers – Asian Session 16-11-2021

Market Drivers – Asian Session 16-11-2021

The Nikkei index rose 0.11 percent to 29,808.12 points, while the broader Topix index also rose 0.11 percent to 2,050.83 points.

During the session, investors watched a meeting between US President Joe Biden and Chinese President Xi Jinping.

The Japanese indices rose after Chinese state media published a report that the Chinese president told his US counterpart in a virtual meeting that the two countries should strengthen communication and coexist peacefully.

The yuan hit a five-month high in Asian trade on Tuesday, as traders welcomed the dialogue between US President Joe Biden and Chinese President Xi Jinping, while the dollar settled near a 16-month high against the euro ahead of US retail sales data that could affect the outlook. Interest rate expectations.

Gold futures rose 0.16% to $1,869.55 as concerns about inflation added to the allure of safe-haven bullion. The dollar, which usually moves in reverse with gold, also rose on Tuesday and remained near a 16-month high.

The Turkish lira fell by about 0.8 percent on Tuesday to a new record low of 10.14 against the dollar, weighed by expectations of another interest rate cut from the central bank this week.

Check Also

DXY Declines on Quiet Monday as Markets Await Catalysts

The US Dollar Index (DXY) has retreated below the 107.00 mark after profit-taking following the …