USD/CAD stays above 1.4350 due to lower Oil prices, hawkish policy shift by Fed
USD/CAD could appreciate further as a change in Fed policy and inflation concerns weigh on the CAD.
Smiletradefx – Japan stocks were lower after the close on Wednesday, as losses in the Power, Transportation Equipment and Warehousing sectors led shares lower.
At the close in Tokyo, the Nikkei 225 fell 0.27%.
The best performers of the session on the Nikkei 225 were Rakuten Inc (TYO:4755), which rose 5.73% or 49.90 points to trade at 920.10 at the close. Meanwhile, Mitsui Mining and Smelting Co. (TYO:5706) added 4.29% or 199.00 points to end at 4,835.00 and Furukawa Electric Co., Ltd. (TYO:5801) was up 3.90% or 274.00 points to 7,302.00 in late trade.
The worst performers of the session were Tokio Marine Holdings, Inc. (TYO:8766), which fell 4.06% or 232.00 points to trade at 5,481.00 at the close. Japan Exchange Group Inc (TYO:8697) declined 3.93% or 71.00 points to end at 1,735.00 and Omron Cor (TYO:6645) was down 3.90% or 200.00 points to 4,933.00.
Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2392 to 1229 and 252 ended unchanged.
Shares in Furukawa Electric Co., Ltd. (TYO:5801) rose to 5-year highs; rising 3.90% or 274.00 to 7,302.00.
The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 4.35% to 21.79.
Crude oil for February delivery was up 0.57% or 0.42 to $74.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 0.44% or 0.34 to hit $77.39 a barrel, while the February Gold Futures contract rose 0.03% or 0.89 to trade at $2,666.29 a troy ounce.
USD/JPY was down 0.02% to 158.02, while EUR/JPY unchanged 0.00% to 163.45.
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