Asian markets could trade lower following a volatile session on Wall Street, where equities closed at intraday lows. Technical trades drove the price action after an unwinding of positioning cross-asset due to a heavily priced to both directions the Bank of Japan decision. It is also worth noting that traders are eyeing Friday’s options expiry ahead of month-end and the FOMC decision.
Traders are also digesting recent US corporate earnings releases, and on the macro front, there are still uncertainties around the global economic outlook. For the session ahead, US yields are under pressure as well Oil, both could serve as forward-looking economic drivers and could give direction to the price action when looking at the macro front, as a slew of disappointing US data releases and hawkish Fed rhetoric yesterday also added to the risk-off move across risk assets.
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© 2019 High Leverage FX - All Rights Reserved.