Asian markets will open in negative territory again today, after weaker indices in the US. This is due to parts of the technology sector of the DJIA index, the anticipation of France's Sunday elections and the drop in the price of oil to $ 50.50 a barrel.
If the drop in the price of oil stays or goes down, it is very likely to see lower index prices during this session. The US dollar traded more steadily, but without major movements. The yen continues to be the strongest currency, along with the pound which traders have supported after a statement that new elections are scheduled in the UK.
OPEC can maintain the agreement for lower production levels for longer and even lower levels further.
We expect data for the New Zealand consumer price index and if the data is worse, it will negatively affect the NZD and will likely fall against USD and JPY.
The Nikkei will open around 18,410 and the ASX 200 around 5,800.
Trader Senan Fuchedzhiev
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