Shining China market may support Asian markets

Despite the 21month low service PMI in China, Shanghai market rose up on Monday. I think SET may rose up following the major markets in Asia because investors may focus positively on China September foreign exchange reserves. In my opinion, Shanghai stock market may open higher and slightly rise up by the good forecast of new loan today. Thai market also may follow other markets in Asia to open higher early morning today. This week SET may edge higher than 1700 points, if the most majors world markets may get supporting by good economic data and North Korea may not test a long-range missile.
Aussie dollar may rise up today after it fell yesterday by sensitive with low service PMI in China. The good forecast of business confidence in Australia at 7.30 GMT+7 may help AUD head up on Tuesday. I think investors may focusing on FOMC members speeches at 21.00 to collect the possibilities about increasing FED interest rate so U.S. dollar may steady against other currencies.
The U.K. August manufacturing production forecasted lower than last month so it may negative for currency. Pound may fall down because manufacturing production may weak and U.S. dollar may held steady. However, I suggest to keep eyes on North Korea. Trump may decide to give this issue to ministry of defense and the tension may increasing.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review