FXstreet.com (Barcelona) - Asian stock markets are going through losses on Wednesday as weaker U.S. Housing data weighed optimism by upbeat corporate earnings. Euro and pound remain moving below key levels.
Japanese Nikkei Index has picked up after a negative opening and edges up 0.1%, while Hong Kong's Hang Seng Index sheds 0.1% and South Korean Kospi Index drops 0.5%. Benchmark indexes in Australia, China and Singapore are also slightly down.
Asian markets have followed Wall Street's negative track, after U.S. Housing Starts figures showed a grim outlook, with building permits declining at its fastest pace in the last months.
Euro and Pound, in range below key levels
EUR/USD failed on Tuesday to break resistance area at 1.5000 and after hitting a fresh 14-month high at 1.4995, the pair pulled back to 1.4880/90 area, which offered support during Asian session. At the moment of writing, the Euro trades at 1.4930, with minor resistance at 1.4945.
GBP/USD broker o Wednesday above 1.6400 to attempt an assault to 1.6500 area, although the pair was rejected at 1.6490 -5-week high-, and the Sterling retreated after weak U.S. figures to 1.6325. During Asian session, the Pound has picked up and returned to levels right above 1.6400.
USD/JPY has remained trading in a range from 90.60 to 90.90 during Asian session after rebound at 90.05 low on Tuesday capped at 91.05 ahead of U.S. housing data