The state of the Asian market: the market maintains a positive attitude

Tradings in the Asian session maintains the mood of the past day, despite the increasing correction. Thus, the major stock indices of the Asia-Pacific region are trading significantly below zero, which is caused by correction after growth, despite the positive statistics on China. The currencies of this region are trading in different directions due to differently directed data on Australia and New Zealand. The US currency remains also very restrained, despite the positive signals hinting at the promotion of tax reform in the US. Progress on this issue should be expected in the coming days.

The British pound is rising against its main competitors, steadily increasing its popularity in the market after a noticeable shift in the Brexit negotiations. The market also expects new details on the negotiations.

Despite the growth of optimism, the dynamics of the US dollar index remains in a downward trend, and the correction of stock indices contributes to this movement. The dollar index is still limited to the support level of 93,000, the breakthrough of which will open the way to significant support levels of 98.800 and 92.400.

Graph of the US dollar index, current price – 93.100.

Hanzenko Anton