Shares fell hardly while greenback was speculated

A negative sign in 2018 on last Monday – Dow Jones fell 1,175 points. Dow Jones had fallen since Friday (2nd February). Global shares also got this negative effect so Stock Exchange Thailand fell lower than 1,800 points on Monday. SET may change a new base because it may fall lower than 1,750 points. I suggest a support level at 1,730 points. The global financial market tumbled also affected to the falling oil price lower 1% on Tuesday. Brent also had fallen since Friday but today it may try to hold steady because U.S. crude oil inventories at 22.30 p.m. forecast lower.
Investor may speculate U.S. dollar because of the possibility of rising interest rate. The stronger greenback may affect from the rising 10-year bond yield around 2.6794% on Tuesday. In my view, the weaker employment change in New Zealand early morning at 04.45 a.m. may pull Kiwi dollar lower than 0.7270 U.S. dollar. The fourth quarter employment change forecast 2% lower so it may express the weaker in labor market even unemployment rate forecast at 4.6% the same. In my opinion, this week U.S. dollar may slightly edge higher against a basket of six major currencies.

South Korean cryptocurrency exchange Coinpia has announced it will suspend both trading and deposits after it was unable to implement a customer identification system in line with a recently enacted government mandate. At the moment Bitcoin price may really have bearish trend because it broke level 100% on Fibonacci so it may fall lower than 5,000USD.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review