The state of the Asian market

Trading in Asia remains very restrained due to the mixed direction of the stock indices in the Asia-Pacific region. Similar dynamics of the stock indices in Asia is largely due to the ambiguity of trading on Wall Street, which closed with a small increase.

At the Asia-Pacific session, a small amount of news came out. In Australia, the index of leading economic indicators from MI (m/m). It showed growth, but given the previous dynamics, this value remains highly expected, as the indicator is embedded in the existing sideways trend. As a result, the news had virtually no impact on the Australian dollar.

Also, at the beginning of the day, the Chinese president made a speech. It was very optimistic about the market and the allocation of resources. Such optimistic data on China were perceived quite positively by the market. This data in the end could cause a wave of growth in stock indices. Also, optimism in the stock markets continues to affect the US currency, which remains to trade at the closing of the day, waiting for drivers to strengthen.

Recommended for reading: Individuals – words and statements of which have a significant impact on the world financial markets.

Hanzenko Anton