Asian indices are expected to open in positive territory, following the US indices, rebounding from the biggest sell-off of the year. US futures indices opened higher, which shows, that the positive sentiment might continue during the Asian hours. Investors show trust in Trump's promises for his agendas. A presidential impeachment looks doubtful and investors understood that.
Oil's price rose to $48.60 per barrel, as the USD declined. Most of the analysts are bullish on the commodity and this can support the indices. At the end of the session the US markets stabilized and pared its losses, however the sentiment remains negative in the short term. Gold declined after 7 straight winning sessions. It is likely to see lower prices of the metal, if the positive sentiment remains.
In this situation we can expect higher prices on the risk currencies, as AUD, NZD and CAD, and the CAD can be the winner with the support from Gold's rise.
We expect economic data from New Zealand, however they will not make the headlines today. However, it is likely to see higher than normal volatility in today's session, caused by the sharp movements made from the US indices.
Nikkei will open higher around 19,623, and ASX 200 edged higher at 5,838.
Senan Fuchedzhiev - Trader
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