Yesterday’s trade showed that the markets were tired again, as we saw that Asian stocks don’t keep up with Wall Street growth, when both NASDAQ and S&P 500 showed record highs after stronger growth in energy reserves due to higher traffic In the crud oil. Nikkei 225 stopped at 20,000 points, adding 0.1%, while ASX 200 added 0.2% after a fairly neutral release of RBA-minutes, in which the Bank was concerned about housing and labor markets, balancing it with Forecast of sustainable GDP growth. In China, as in Shanghai comp. And Hang Seng lost 0.3%, as regulatory concerns mount.
In the currency pair, the dollar remained low, as we saw that the USD index, a measure of the strength of the US dollar against the basket of currencies, remains below the 99 level. JPY found strength, as sentiment fell overnight, prompting USDJPY to fall below 113.50, Canceling strong pressure on the purchase from the end of yesterday.
GBP remains muted ahead of today’s release of CPI, in which we expect a 2.6% growth year-on-year.
If the actual exceeds expectations, we will probably see that strengthening the GBP as a market price will require a more aggressive BOE, and vice versa, if this figure disappoints. EUR has steadily risen against the US dollar, as we see the attacking force of 1.1000.
In commodity sectors, gold continues to shrink higher as sentiment towards risk rises and resistance level 1235 is tested after the bulls successfully defended support level 1230. Gold will remain in price, provided that the risk appetite continues to be acidic, making 1250 realistic Purpose for the buyer. However, if the mood of the risk improves, the bears will aggressively return, as we see that they are being hunted by 1200 people. Crude oil yesterday received a new purchasing power, as we saw that the $ 50 mark was tested against the backdrop of positive rhetoric from Russia and Saudi Arabia, which confirmed that they would look at the extension of the freeze in oil supplies in 2018. At the OPEC meeting around In the corner, the markets will continue to be sensitive to jawboning in relation to the offer, with the goods being bought for news of a reduction in supply and being sold on news about the supply growth.