Asian shares edge higher, dollar weak as traders await earnings

📆 2021/10/25 16:10:00
📰 Reuters

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Asian shares edged higher on Monday ahead of a week packed with major quarterly earnings announcements though news of trials of a property tax in China weighed on Hong Kong and mainland Chinese markets.

The risk friendlier mood that supported equities has weighed on safe-haven currencies, as have rising energy prices which supported currencies including the Aussie and Canadian dollars .

Traders are waiting for U.S. third quarter GDP figures due Thursday with a weak print likely to weigh on the dollar, according to analysts at CBA. Markets are still trying to position themselves for a widely expected tapering of the U.S. stimulus programme this year, and the possibility of rate hikes late in 2022

Oil prices rose on Monday, extending pre-weekend gains, with U.S. crude hitting a seven-year high as global supply remained tight amid strong demand worldwide.rose 1.11% to $84.69, a new seven-month high.

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The $ is not the only way of international trade

Hopefully TSA reflects the same

this is terrible news

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