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- Positive start of the Asian market session today – May 25, 2017
Positive start of the Asian market session today - May 25, 2017
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Loading...Asian indices are expected to open higher after the US indices closed at higher levels with the S&P 500 closing at a record high over 2,400. Risk sentiment remained in the financial markets after the Fed's report noted that the Central Bank was on its way to slowly raise the country's interest rates, and mentioned that it was considering the likely decline in the bank's balance sheet and assets.
Also right after the end of today's trading session in the US, news came out that the Senate has adopted the Republican Health Bill. This is a great victory for the President Trump's administration. US stock index futures opened higher showing us that Asian indices may continue to rise.
Oil prices rose again today to $51.90 for a barrel after the dollar continued to lose positions. We are expecting the OPEC meeting today in Vienna. Gold and Silver continued to rise, partly due to the weak dollar but this may change as the Fed remains the only Central Bank that has already communicated its intentions of higher interest rates in the future. The Fed's report on monetary policy today suggests that the Central Bank members are going to reduce the balance and assets of the bank. Markets reacted positively and we will probably see higher levels of Asian indices. Credit agency Moody's cut credit rating of China to A1 by A3. It probably will not stay unnoticed by the night markets.
If markets go down, it will be negative for the risky currencies as AUD, NZD and CAD, which traded at higher levels against the US dollar during the American session.
We are looking forward for Kaplan and Kashkari speeches and we will keep track of possible attitudes and what to expect on the issue of interest rates and possible increases. Later we expect data about Foreign Investment in Japanese stocks and data from New Zealand about economic expectations.
Nikkei will open around 19 751 and ASX 200 will open higher around 5 786.
Senan Fuchedzhiev - Trader
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