Asian markets playing catch-up with US reversal

FXstreet.com (Barcelona) - Following an impressive reversal in US equities that closed in NY up +1.48% for the SP500, most local share markets trade in the positive, trying to catch up. Finding support at the 200 day SMA for second time in less than 1 week at SP500, better than expected US monthly retail sales did the rest.

Nikkei index is last up +3.06% above the 12800 points mark, Hang-Seng +1.22%, Korean Kospi +0.37%, Shanghai Composite +0.10%, and Australian ASX +1.44%, while US equity futures ease a bit from session and 2-day highs.

Jun 14, 2013

Flash: Fed taper priced in - RBS

The market-induced illusion that the Fed may start its tapering in the near term appears to be now priced in, with the market expecting now a reduction in the pace of QE within 3 months, says Greg Gibbs, FX Strategist at RBS.

Flash: US GDP on growth path even if Fed tapers - NAB

The US GDP growth looks likely to slow a little in the June quarter, says NAB Economist Antony Kelly, who sees the trend still as "one of modest growth."