Negative start for the Asian indices today - 17 Май, 2017

The indices in Asia are expected to open lower, after the US indices closed with almost no change , except the NASDAQ. Investors continue to be focused on the fact that the tax cuts and infrastructure spending may be delayed. If the negative sentiment continue to take control we may see even lower prices of the indices during the night. The futures of the US indices opened down with gaps.

The price of Oil did go higher at around $47.30 per barrel. OPEC is planning a meeting on Wednesday in Vienna. If the price of Oil continue to go up even if that rise is slow, then this might support the Asian indices overnight.  The USD fell against all currencies, as the DXY/The dollar index reached level of 98.170. Gold was up for the 4th day on a row, as the big players are buying the metal as a hedging instrument.

We are expecting data from New Zealand, the PPI index, Consumer Sentiment out from Australia and Industrial Production from Japan. If the data from New Zealand is better than expected then this may support the NZD and AUD.

Nikkei will open lower at around 19,820, as the ASX 200 will open around 5,850

Senan Fuchedzhiev - Trader

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