Asian markets will open higher despite of the lower close on Wall street

The start of the Asian markets is expected to be positive, at least in the beginning. After that it might head lower due to the Jackson Hole meeting and the following weekend. The markets in Asia will have to wait after the weekend before they can react to the speeches from the Central bankers and that may, put off some of the markets participants to stay away of today's trading session. The futures indicate a higher opening, despite the lower close on Wall street. The market in Hong Kong will be open today, after it was closed due to a storm. Samsung released the new Galaxy Note phone.

The price of Oil is slightly higher before the open of the trading session overnight around $47.76 and if it continue up will support the indices. Gold is trading slightly lower, after it did not manage to break the strong horizontal resistance around the area of $1,295-1,300. If investors remain negative and the correction of the American indices continue, there is the possibility that it will break up above the resistance and continue higher.

During the overnight session we expect the National CPI and Tokio CPI and if the data is better than expect, it may support the JPY.

Nikkei will open higher around 19,442, as for the ASX 200 it will open slightly higher around 5,751.

Trader  - S. Fuchedzhiev

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