Asian shares subdued after Trump address
Asian shares were dropped on Wednesday after U.S. President Donald Trump’s State of the Union address failed to give markets fresh trading catalysts, while the Australian dollar nosedived after the central bank opened the door to a possible rate cut.
- Japan’s Nikkei closed up 0.1 percent.
- E-Mini futures for the S&P 500 last were a tad higher.
- The Australian dollar shed nearly 1.3 percent to hit a one week low of $0.71435.
- The Dow ended Tuesday up 0.68 percent.
- S&P 500 gained 0.47 percent and the Nasdaq 0.74 percent.
- The dollar held up well thanks in part to a retreat in sterling, which hit a two-week low at $1.2923.
- Sterling has come off about 2 percent from its 2019 high of $1.3218.
- Against a basket of currencies, the dollar was firm at 96.110.
- The euro slipped to $1.1394.
- U.S. crude futures edged up 7 cents to $53.73.
- Brent was up 7 cents at $62.05.
- Spot gold was a shade lower at $1,314.30 per ounce, about 0.9 percent short of its recent peak at $1,326.30.