Steady growth of Asian market, concern for Euro zone

Asian market is steadily advancing as a result of improved investor’s optimizing, as concern over Euro Zone’s sovereign debt crisis have eased with macroeconomic indicators showing upbeat figures. In the market euro and pounds have been consolidating.

Japanese Nikkei index rose by 1.6% that is 32 points by strong corporate earnings .More stocks on the Nikkei 225 were advancing during the session. Companies dealing with commodities were helping drag the indices higher after oil closed above the 20 day moving average and gold hit a new all time high. Commodity linked Mitsui Company has jumped 1.72 percent.

Similar South Korean Kospi index rose 1.4%, Hong Kong’s Hang Seng Index added 0.4%. Markets in China Taiwan and Singapore have also gained. India’s condition has also improved now its time to see the result on forex online trading as she is buying one U.S dollar for 45.0200 rupees and selling for 45.0300 rupees same is the case with Euro and GB pounds.

Euro rates for 59.8100 rupees and sold for 60.0600 rupees and GB pound for 66.7200 and sold at 66.9700 rupees.The Euro\USD declines 70 pips (pips - The smallest price change that a given exchange rate can make.) in last trading day, reflecting the selling pressure from the crude oil market.

The GBP/USD extended losses from the last trading sessions even after Mr. Brown proposed a number of measures to steer the economy from the face to recession. The pair fell 180 pips yesterday, reaching the lowest valuation since March 2006. Since the U.S. session closed, the pair decline 25 pips.