APEC meeting in Vietnam may rise tension on Korea Peninsular

In the Asia-Pacific Cooperation (APEC) meeting in Vietnam the United State’s president, Donald Trump mentioned the situation around North Korea and its leader Kim Jong Un. China promised to strengthen the pressure on North Korea. After that Pyongyang released a long declaration condemning Trump. I am afraid that it could become the reason of increasing the tensions on Korea Peninsular. Early morning on Monday, Asain stock market may open lower because of this tension. Nikkei may open lower following Wall Street. SET may try to break level 1700 points support by stimulating economy.
The rising tension may effect major currencies such as euro and U.S. dollar. According to the Japanese candlestick “Three advancing white soldiers” euro may rise against dollar. I suggest 1.1700 as the resistance line. Gold price may rise up and may try to hold steady.
Crypto-market fell on weekend while Bitcoin gold (BTG) launched on Sunday. In response to the announcement, the price of bitcoin gold futures rose 31%, from $140 to $185. While Bitcoin (BTC) had reversed its bullish trend. I think Bitcoin price may fall to 5600 dollar but if it breaks 6400 points, we could see the increasing of the price again. While bitcoin gold price may rise up to 300 dollar as Ethereum by end of the year.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review