The state of the Asia-Pacific market: the market dominated by news

At the beginning of the day, during the Asian session was published preliminary data on Japan’s GDP, which showed a slight increase at 1.4%. Despite the fact that Japan’s GDP growth has slowed recently, the overall figure remains remarkably high. That in the end allowed the Japanese currency to strengthen against its main competitors.

The demand for safe harbor assets is still maintained by the stock indices, which are trading below zero. Such dynamics is caused by the persistence of fears in the market and the general weakness of the American amid uncertainty about the tax reform.

Also, at the beginning of the day there was a publication of a change in wages in Australia, as a result, this indicator slowed in the third quarter to 0.5%. As a result, the pair AUD/USD significantly weakened, thereby breaking through the support of the side channel in which it had been moving the last two weeks. Support levels are: 0.7560 and 0.7520.

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Hanzenko Anton