The state of the Asian market: the dollar is on correction before Thanksgiving Day

World stock indices are traiding near historical highs after growth of optimism due to publication of corporate profits and strengthening of prices on raw materials. Despite the persistence of optimism, the dynamics of currencies and the US currency remains very low-key. The low activity of the market is caused by the correction of positions before the Thanksgiving Day in the US, on Thursday, November 23.

Trading in Asia was marked by the return of the dollar index to the level of 93.900, which indicates the return of quotations to the established channel. The expectations for the American remain in effect, but are pushed back until the return of the index above the level of 93.900-94.000.

Given the decline in activity due to the celebration of Thanksgiving Day in the US and the return of the dollar index to the level of 93.900-94.000, one should expect a resumption of lateral traffic in the range from 93.400-500 to 93.900-94.000. Also, today the day is full of events especially in the US, which can cause outbursts of volatility.

Hanzenko Anton