The state of the Asian market: the market is in anticipation of correction

Trading in the Asian session is very restrained due to the mixed dynamics of stock indices. The market is digesting data regarding the OPEC meeting, the prospects for tax reform in the US and the promotion of Brexit negotiations, which acted as drivers this week.

At the beginning of the day, a significant amount of data on Asia was published, which were perceived by the market rather discreetly. Weak data on business activity in China increased pressure on the background indices of the region. The statistics on Japan were more neutral.

The dynamics of the market on Friday morning remains low-key, keeping the sentiment of the American session. The dollar index remains in a downward trend, limited to the support level of 92.800 and maintaining the pressure. Concerning other drivers, namely the pound, there is also a certain slowdown due to the overbought.

Graph of the US dollar index. The current price is 92,800.

Hanzenko Anton