Tuesday, 22 May 2018 10:06 GMT

Asian Stocks Slip as G20 Stokes Free Trade Health Fears

(MENAFN - DailyFX)

Talking Points:

Asian stocks slipped as investors worried about free trade's future The G20 failed to agree on suitable communique wording in its defense The markets lacked the Nikkei with Japan out for holiday Asian stocks mostly stumbled on Monday as investors digested the headlines emanating from the weekend's meeting of the Group of 20 largest industrial economies.

Finance ministers from those countries warned against competitive currency devaluations and 'disorderly foreign exchange markets, but failed to agree on communique wording on keeping global trade free and open.

US Dollar weakened further, with the Dollar Index near one-month lows. Crude oil prices were steadier after a rough week last week as investors worried about still-high global supply. Gold prices hit two-week highs on that weaker greenback and what is now seen as the US Federal Reserve's conservative guidance on interest-rate increases.

The rest of global Monday is hardly packed with scheduled economic news. However the cupboard is not entirely bare. Investors will get sight of the Chicago Fed's national activity index and Bundesbank chief Jens Weidmann will speak in Loerrach, Germany.

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--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX


Asian Stocks Slip as G20 Stokes Free Trade Health Fears

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