The state of the Asian market

Stock indices of the Asia-Pacific region are trading mostly above zero following the positive closure of Wall Street. The preservation of optimism in the market relative to the US currency remains significant, as indicated by the pervasive strengthening of the US dollar.

The additional factors in the strengthening of the dollar were the corporate reporting in the USA and the weakness of the single currency because of the statements by the ECB. As a result, the American remains to trade near the three-month highs in relation to the main basket of the world currencies and preserves the further potential for strengthening.

Yesterday, the dollar index was able to gain a foothold above the level of 94.50. Now, the main resistance is concentrated at around 95.00 with a possibility of further correction. The reasons for the decline of dollar are data on the US GDP and the dynamics of stock indexes. The strong resistance area is 95.20-50.

Follow the dynamics of the market at https://esterholdings.com/en/category/mneniya-ekspertov/ and  https://esterholdings.com/en/category/novosti-rinka/

Hanzenko Anton