Asian Markets are expected open lower

Markets are expected to open lower today, after the US indices closed lower. Nasdaq is the leader in the lower move helped by the fall in Apple stock to $95 per share. DOW closed with 1% and this is the first lower close in nearly two months. The latest data from the US economy were weaker than expected. Nikkei and Shanghai Comp are expected to continue their move lower.

The Oil price is above $46 per barrel, after the price has risen for the last two days. The price of Gold is at $1266, helped by the weaker dollar and overall higher prices in the commodities in general. JPY continues to be the strongest currency, after BOJ communicated that they will not increase the size of the stimulus. The positive sentiment for more economics stimulus continues World Wide. The Central banks of all countries are trying to stimulate their economies in different ways and to keep their respective currencies weaker. As the last Central bank to do this was RBNZ, after the rate decision to keep their rates unchanged at 2.25%, communicated that they would like to see a weaker NZD.

As the JPY gets stronger this can shift the sentiment from RISK ON to RISK OFF and this will have a negative influence on the indices and will help the dollar.

Nikkel futures were down with 1.03% to 16,330 and Australian SPI futures were with 0.2% lower to 5,193.

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