Japan’s Nikkei Trades Steady After Touching Highest Level in 2019 - Forex News by FX Leaders
Nikkei 225

Japan’s Nikkei Trades Steady After Touching Highest Level in 2019

Posted Thursday, October 17, 2019 by
Arslan Butt • 1 min read

Japanese stocks have enjoyed a strong rally over the past few days following an improvement in the trade war sentiment and a weakening in the safe haven currency Japanese yen. Japan’s Nikkei touched a 10-month high during Wednesday’s trading session, but has pulled back to trade steady in today’s session.

At the time of writing, NIKKEI225 is trading around 22472, the highest level touched since December 2018. The market sentiment has been buoyed by progress in US-China trade talks and the possibility of a Brexit deal emerging soon.

However, the rally was muted today as Wall Street stocks also traded lower on Wednesday over the release of a disappointing retail sales report for the month of September. USD/JPY also traded lower today following the release of this report, causing a muted reaction in stock markets during the Asian session.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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