The new week marked the start of the new business year for Asian Markets, and the market moved to quickly bounce back from its decline over the latter half of the previous week. Investors showed interest as stocks linked to domestic demand gained to ensure the market started brightly. Later, the Yen strengthened against the Dollar as rising geopolitical risk from North Korea contributed to caution.
From last week up until the weekend, it’s been strikes affair. News over the weekend had it that the US would send a Navy Strike Team towards North Korea. This followed Trump’s meeting with China’s Xi and the famously infamous Syria Missile Strike by the US.
During the Tokyo Session Monday, the Euro weakened against the Dollar as New York Fed President William Dudley stated the Central Bank might avoid raising Interest Rates at the same time that it begins shrinking its $4.5 trillion bond portfolio. The Yen edged lower, Sterling steadied after a decline, Australian Dollar nosedived while the New Zealand Dollar had a slight rebound.
Federal Reserve Boss Janet Yellen speaks today at 4:10 PM ET. There seems to be not much anticipation towards the Speech. Investors are cautious however.