Asian markets with a positive start, after the positive close on Wall Street

20.07.2017 / 02:28

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The indices in Asia will open higher today, after the US markets continue to go higher and added to already record levels. It is increasingly possible to see higher price of the Asian markets as the MSCI for the developing countries broke a decade long bearish trend line. The MSCI All-Country World Index has risen 0.4% to 476.44 points and this is its highest level on record, reaching it in 9 straight session. Investors are seeking risk and they invest into the developing countries as well.

The Aussie dollar continue to trade higher, as it went up the most against the US dollar. AUD remains the strongest currency not only during the European but also during the US session. Today we expect data from Australia, Employment numbers and if they come out better than expected, it will boost the AUD in addition. Despite analysts calls that the currency will quickly fall against the USD, this have not happened and continue to climb. The USD was again very weak, even that it rose slightly. The Euro consolidated today, just before the expected meeting today from the ECB and the rate decision.

Gold fell slightly, after it had been trading strongly in the past couple of days, as now it is around $1,241. The price of Oil grew to $47.10 and it supported the indices. The price of the commodity continue to go up even after the negative forecast from many analysts.

Traders are expecting data from Australia, Full Employment change and Participation rate and this data is volatile and we expect high volatility around 04:30 (our time). Also we expect rate decision from the BoJ, but there is exact time for the release. Analysts do not expect changes to the policy and or for the the QE program. The rate is expected to remain as is at -0.1%. Its possible that the JPY will fall.

Nikkei will open around 20,020, as for the ASX 200 will open around 5,695

Trader - S. Fuchedzhiev

Varchev Traders

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Asian markets with a positive start, after the positive close on Wall Street

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