Dow Jones closed at record high on Wednesday at 26,252.12 points after reaching a new all-time highs as tech stocks declined while some investors nervous from the market's high valuation. Today, investor may slow down invest waiting for the fourth quarter GDP of the United State which predicted lower 0.2%. In my opinion, major Asian markets may trade mix on Friday and SET may swing in narrow frame so I suggest 1828 as a support line.
U.S. GDP may affect to greenback, Wall Street and world shares. As the result, if GDP of the United State at 20.30 p.m. will be lower than 3.0%, dollar may become weaker and Wall Street also my drop lowers. But other major currencies may rise up such as GBP. I think if GDP of the United Kingdom at 16.30 p.m. will decline as forecast, pound may fall for a while and then if U.S. GDP is also not good, pound may rise back. However, I suggest listening BoE chair Carney speaks at 21.00 p.m. because he may signal some significant monetary policies.
Loonie may head to 1.200 USD as the recent trend USD/CAD is bearish. Focus on Core CPI and CPI of Canada at 20.30 p.m. as it may support Canadian dollar to keep the strong bearish trend, if these indexes will be higher than expectation. Bitcoin may keep moving sideways waiting for weekend. I t may move between 10,000-12,800 USD. In my opinion, crypto market already stopped its bearish and now it may hold steady for a while.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade