After it became clear that the Fed would not step back and continue to raise interest rates, the Asian markets were marked by strong sales. The main reason for this is the large debt of Asian companies denominated in USD. China's biggest share hit, with Shanghai composite falling by almost 2%, and Hang Seng by 0.11%. Here are the main movements in Asia:
The FX market remained relatively quiet, but excluding AUD. The Australian marked a strong rise as a result of much better unemployment figures in the country: 5.0% vs. 5.3% expected. CAD remains under pressure against the background of declining oil, but it is still too early to think of short positions in the currency. The reason is a lot of speculation about the US-Saudi relationship, which indirectly affects the Canadian through the price of oil. As far as Canada's economy is concerned, prospects and current economic data remain stable. The positive thing about the situation is that temporary CAD correction will give good levels to add to long positions. Here are the other movements of the FX market at the moment:
During the Asian session, there were no major events affecting the markets in Europe.
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