Ching Ming – some Asian countries close

Dow Jones rebounded and Amazon shares increased 1.5% on Tuesday but investor still worries about trade war between USA and China. This Thursday is a holiday of some countries in Asia such as Hong Kong and China. I think major stock markets in Asia may keep its sideways.
GBP/USD may rise above 1.4200 point, if service PMI in March at 15.30 p.m. is higher than 54.0. I think service PMI in U.K. maybe better than forecast follow manufacturing PMI on last Tuesday. These indices may express the growing economy in the United Kingdom so they may support both: currency and shares. While euro may move flatly between 1.2235-1.2340 points because service PMI in March of EU and Germany forecast the same and EU retail sales in February expects higher at 0.5%. I think this factor may support euro to hold steady. Investor keeps eye on U.S. nonfarm payroll on Friday.
Chinese e-commerce giant Alibaba has filed suit against the founders of a cryptocurrency named "Alibabacoin," arguing that the project is infringing on its trademark. Alibaba said that the defendants misappropriated its brand in an effort to raise $3.5 million through an ICO. Bitcoin price rose above 7,320USD on Tuesday and supported altcoin stay in green.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.

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