The dollar dropped below the 104 level and the Nikkei declined by 0.1% to 16,844.51 after being up earlier. The yen meanwhile was up 0.2% as Japanese investors confronted what many were saying was softer tones Monday from Bank of Japan Governor abut further monetary easing. The Journal quoted Kuiroa: “We will continue to make necessary policy adjustments to maintain the momentum toward our price-stability target, based on economic and price conditions,” Mr. Kuroda said.
Regional investors will be watching China's 3Q GDP numbers this Wednesday. Couple this with Fed Chair Janet Yellen's Friday Boston speech which many believed sent mixed messages and at present you have all the ingredients for some mixed up investors. The hang Send was off -0.45%; the ASX 200 down-0.71%; the Shanghai Composite rallied 0.13% and the Korean Kospi edged 0.41% higher.
The Yellen rhetoric sent mixed signals as some saw it as a sign a December rate hike was not a done deal while others viewed it as much more certain. Oil prices were down overnight with Brent at $51.86. Gold prices remained mostly unchanged on Monday on a firmer U.S. dollar after positive U.S. economic data late last week appeared to raise the chance of an interest rate hike by year-end. U.S. gold futures were off 0.3 percent at $1,252.30 an ounce.
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