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What to expect from the Asian Session Today
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Loading...The markets during the Asian session are expected to open higher, following the luckbuster close of US session.The S&P closed at its highest point since November 2015. DJIA and Nasdaq both also closed higher with respectively +0.27% and +0.39%.
Investors are not convinced that FED will raise the rates just now thins month. All indices are higher since the beginning of FED's speeches of higher interest rates. The dollar also weakened and stopped its raise. Last 2 months have been the best performance. Of course due to the expectations of Non-farm payrolls today, all analyst and market participants will be cautions and the volatility will pick up after the news.After the news, maybe will we see more details of the big picture surrounding the US economy and will have a clearer view of what we might expect from the FED.
The price of Oil continued higher and traded at $49.06 per barrel and this helps the indices and stocks. Gold stopped its fall and deep correction and might start going up due to the weak dollar. No concrete evidence of higher inflation so far yet. The GBP is fundamentally weak due to the news surrounding the 'Brexit' and speculation around it. The euro continuous to be very resilient and for EUR/USD to stay at levels of 1.1500, despite of the difference and divergence of both Central Bank monetary policies. The AUD and NZD dollars are stronger due to the indices and the weak dollar. The JPY is the strongest currency and all its crosses are traded lower. The dollar can raise today and the indices to fall after the news which is expected at 15:30 (BG time). The price of Oil is also at a key level close to its previous high.
If the news from New Zealand - ANZ Commodity prices are better then, we are expect higher prices of the AUD and NZD dollars, also higher price in Commodities and Gold and Silver.
Better news from China - Caixin Services PMI - will benefit the indices and AUD and NZD dollars.
The futures on both Nikkei and ASX 200 are higher prior to the open.
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