The state of the Asian market: the market is full of optimism

Despite the significant overbought of the American currency, the Asian market is buying the US dollar and other risky assets amid growing optimism before the publication of data on employment in the US and because of the strengthening  of the stock indices in the Asia-Pacific region. In addition to the optimism caused by the expectation of data on the US, the stock exchanges were supported by data on China’s trade balance, which has grown significantly. As a result, despite the positive statistics for Japan, the Japanese yen remains under pressure due to the transition of investors to more profitable assets.

Also, at the beginning of the day, there is a continuation of optimism about the British pound, which accelerated growth at the American session due to data on the progress of the Brexit negotiations. As a result, the British pound has strengthened across the entire spectrum of the market after differently directed fluctuations earlier.

As a result, the pair GBP/USD remains trading near the psychology 1.3500, expecting new data on Brexit negotiations. Resistance levels: 1.3540 and 1.3570, support levels: 1.3460 and 1.3440.

Fig. GBP/USD. The current price is 1.3490.

Hanzenko Anton