The markets in Asia will open in negative territory, after the US indices closed slightly negative as well. Investors are cautious, as we expect the rate decision today from Australia, Thursday the rate decision from the Euro zone and Friday is the big data from the US - Non-farm payroll report. There is the possibility that the markets can trade negatively for the week if the sense for uncertainty prevails.
USD is trading higher, supported by the chances that rate hike is possible this month. Gold is down due to the strong dollar around $1225. The Crude Oil continue to trade in a tight range at $53.10 per barrel. JPY continues to be relatively strong and after the rate decision from Australia we might see lower AUD/JPY and AUD/USD if analysts are correct that no change in policy is expected from the RBA today.
During the rate decision high volatility is expected around 05:30 (our time).
Nikkei will open slightly lower around 19,367, ASX 200 is trading lower around 5,727
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