The state of the Asian market: the US dollar is pending

Trading in Asia opened with a correction against the US and European sessions amid negative dynamics of stock indices in the Asia-Pacific region and a decline in yields of the US state bonds.

The main negative factor affecting the US currency is the expectations of the tax reform in the US House of Representatives. What also causes concern is that this law may not pass until the new year. An additional risk factor is the forthcoming data on employment in the US, which will come out this week.

As a result, there is a noticeable correction movement in the market against the US dollar and the growth of safe haven assets. The US dollar index is still clamped in the trading range from 93,000 to 93,400, actually trading in flat on a slowdown in the downtrend.

Graph of the US dollar index. The current price is 93.100.

Hanzenko Anton