Major stock market in Asia traded mixed on Tuesday even Chinese industrial product released better than expected. Early morning today, Asian shares may hold steady or move sideways down while focus on Japan first quarter GDP at 06.50 a.m. which may give negative for Nikkei, if it will be lower than 0.00%. Brent rose above 78 USD per barrel after OPEC reported higher demand on Monday. Focus on U.S. crude oil inventories at 21.30 p.m. which may reduce 1.467 million barrel. Brent may hold above 77 USD or head up to 80USD even though EU keep the nuclear deal with Iran.
U.S. dollar rose early on Tuesday. I think if U.S. economic data is good and Bond Yield rise, USD/THB may break resistance at 32 points. Furthermore, Euro also may fall to 1.800, if inflation won’t rise up. Focus on Europe CPI and Core CPI at 16.00 p.m. which may give negative for euro. I suggest listening ECB chair speech at 19.00 p.m. because he may signal how the stimulus policy for next few months. U.S. building permits in April at 19.30 p.m. forecast lower a little bit but I think I may affect to greenback only short term and greenback may keep moving follow the main trend.
Bitcoin try to rise to 9,000USD again so it seems cryptocurrency is recovering faster from the South Korean web trade news. In 2018 many big companies of different industry begins to develop “Blockchain” technology more. Therefore, Crypto-market may await the acceptance to make a new record.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.