Forex Today: Asian Stock Markets Trading Higher - 27 May 2024

The week has begun with Asian stock markets leading the way modestly higher.

  1. Major Asian equity indices Hong Kong, China, Australia, South Korea, and Japan are ending the day higher. Some analysts see an increasing sentiment expecting a faster pace of US rate cuts as possibly helping sentiment.
  2. The precious metals Gold and Silver are rising, especially spot Silver which is up by more than 1% since the Tokyo open. Long-term trend traders will still be interested in Silver on the long side.
  3. It is likely to be a quiet day in many markets, especially in Forex markets, as it is a public holiday today in both the USA and the UK.
  4. An ex-member of the Bank of Japan’s policy board has said he expects the Bank of Japan could raise rates by a further 0.50% by 2025, if economic conditions do not change materially. Rate hikes could be bullish for the Yen.
  5. There will be a release today of Consumer Confidence data for the USA.

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