Dow jones closed sharply higher on Tuesday because of the strong results from some of the biggest U.S. companies. Major stock markets in Asian also edged higher on Wednesday. I think the investing sentiment of high risk may get better because of the ease trade tension between USA and China as well as war in Syria. However, these negative factors may still keep investor invest carefully. If this week no more tensions, stock markets may recover supporting by earning season. Australian employment chant at 08.30 a.m. forecast higher to 203000 positions so it may support Sydney stock market but Aussie dollar may drop lower than 0.7735 USD. Moreover, Kiwi dollar also may fall lower than 0.7300 USD even CPI of first quarter at 05.45 a.m. predict higher.
U.S. dollar also edged higher on Wednesday because of the firm economic data and lower risks around U.S.-China trade relations and easing tensions in the Middle East. Philadelphia Fed manufacturing index in April at 19.30 p.m. may support greenback hold steady, if the actual data will be higher than 20.8 and initial jobless claim decrease lower than 230,000 positions. GBP/USD fell lower after rising higher than 1.4350 on Tuesday but It may just take a breath waiting for supporting factors. In contrast, U.K. core retail sales and retail sales at 15.30 p.m. may give negative for pound. I think core retail sales may edge lower than 1.4% but retail sales may edge higher than -0.5% but these factor may not support pound to rise higher than 1.4400 points. Loonie may try to stop its bearish trend and try to rise higher than 1.2630 points. If ADP nonfarm employment change in Canada at 19.30 p.m. less than 32,700 positions, USD/CAD may rise up.
New York's Attorney General is taking a closer look at some of the world's most popular cryptocurrency exchanges. The inquiry is focused on key issues such as "internal controls and safeguards to protect consumer assets." Letters were sent to the companies that operate GDAX, Gemini, bitFlyer, Binance, itBit, Gate.io, Huobi.Pro, Bitfinex, Bitstamp, Bittrex, Kraken, Tidex and Poloniex. As the result, Bitcoin price fell lower than 7,900 on Wednesday.
By Niramon Nitnitiphruet
Financial analyst, Olymp Trade.