Asian bourses started the day with a choppy price action following the mixed performance of Wall Street counterparts due to quarter and month trade. The region begins trading the new quarter today, with Hong Kong markets closed for a holiday. For the coming quarter, the northern hemisphere is on the radar. It will increase the choppy price action in the coming weeks. However, global investors will keep a close eye on the value and cyclical names, which are expected to outperform due to global economic growth, retail spending and higher global yields.
On the radar for today’s session, traders are watching new developments on the Geopolitical front as yesterday US and Japan reportedly have been conducting war games and joint military exercises in the event of a conflict with China over Taiwan. After that, Chinese President Xi said it wants to resolve the Taiwan problem to achieve complete reunification of the nation. The next major catalyst will be the Non-Farm Payroll report on Friday and any Fed chatter that entails their take on the job report to give any signs of a more hawkish tone from the FOMC voting members. A more positive than expected data on Friday could support US short-term yields and USD and could weaken the precious Metal like Gold even more as well as the Yen. Worth noting that some market positioning around the data has been built in the last trading days and it will drive the figure’s price action before and after the change.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.