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Dollar Slides with Asian Stocks Following Trump Move

The dollar declined with Asian stocks as traders digested the tensions sparked by Donald Trump’s order halting some immigration, a move that’s ignited opposition from world leaders. Bonds rose with gold.

The greenback weakened against most of its major peers, trading near the lowest levels in two months. Stocks in Japan and Australia dropped with S&P 500 index futures, while markets in Hong Kong, China, Malaysia, Korea, Singapore, Taiwan and Vietnam were among those closed for holidays. Australian 10-year bonds climbed and gold advanced for a second day. Oil dropped below $53 a barrel.

Trump’s executive order halting immigration from seven predominantly Muslim nations drew criticism from world governments and some of the largest companies, bringing the geopolitical and international trade risks surrounding the new U.S. president into sharper focus. His order was curbed by a Boston federal judge, who directed customs officials at the city’s Logan International Airport to allow passengers from those countries with valid visas to deplane there and go on their way.

Here are the main moves in markets on Monday:


· The Bloomberg Dollar Spot Index dropped 0.2 percent as of 3:09 p.m. in Tokyo. The yen gained 0.4 percent to 114.63 per dollar. The Swiss franc, the euro and Mexican peso each climbed 0.2 percent.

· The Australian dollar and kiwi were little changed.


· Australia’s S&P/ASX 200 Index lost 0.9 percent, dragged down by technology shares.

· Japan’s Topix index slid 0.4 percent, led by a drop in banks and exporters. The gauge advanced 1 percent last week, trading near the highest since December 2015.

· S&P 500 futures dropped 0.2 percent after the underlying gauge gained 1 percent last week.


· The yield on 10-year Australian government bonds slid 6 basis points to 2.72 percent. U.S. Treasury 10-year yields fell 1 basis point to 2.48 percent.


Gold rose 0.2 percent to $1,193.07.
· Oil futures dropped 0.5 percent to $52.91 a barrel amid speculation increases in U.S. drilling will boost output and curtail the effects of supply cuts made by OPEC and other producers.

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Vipro Markets Review

Monday, 30 Jan, 2017 / 7:49

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