Asian Market Preview

good morning Traders and welcome for the to the t t Asian preview from I'm glad to say Sunny Sydney today all right beautiful picture of Tokyo there for us um plenty to get our teeth into today here in the Asian markets now once again um after yesterday's um let's not call it quite catastrophic but pretty pretty bad news to these stock markets especially in China they were down 7% at the end of our um of our day in Sydney yesterday um that continued into the US and the European sessions um and it has been reflected pretty solidly in the currencies so here's my Aussie chart um we're trading uh as predicted sort of down been sub um 70 um not surprising there um obviously the contagion from China flowing through to both Australia and to New Zealand probably less so to the Kiwi just because there's there's less uh Market participate there but certainly looking pretty weak and uh we've got a few bits of data coming out today the most important being this one here Aussie retail sales 11:30 so obviously the first uh first numbers coming out or big numbers in Australia for this year really um we'll be keenly watched by the market and if it keeps us on this trend of moving down um then certainly the Aussie will get hit harder as well a lot of people are looking to pick some up um it's I think it's got the propensity to go a lot further and fairly quickly Aussie traditionally goes down the elevator and back up the stairs um so keep an eye on that guys we're all going to have our eyes fixed on the stock markets again I'll just take you over to my stock market page here excuse there we go Dow Jones finishes uh 2.3% down S&P 2.37 NASDAQ 3% down so um not massive percentages but still pretty significant and uh certainly a fair few billion in that now Futures have priced in for the Nick eye open which is the first up for us funny enough plus 100 now it's going to be interesting to see how that goes um if it's a lot low you should see doly Yen get hit doly Yen's also been hit as well as the Yen crosses with this Contin dr- risking and uh and the the funny one that's been going on for a while with the dr- risking is actually Euro gaining ground um and that's that's I suppose dollar selling against the uh the biggest currency pair in the world so Euro back up above 109 and as you can see here a little break through this trend line we'll be adjusting that later and away we go um that's pretty much it for us today so keep an eye on what's going on you will see some highlights in the Press um about currency Wars the market in general is actually this is just a re um reaging of the Chinese currency a lot of the people lot of the guys in the supposing no are saying and here's my dollar China chart let's whip that trend line out but that's that massive move um that we saw yesterday and it's it's settled back down to 6685 so on that note you'd expect Aussie to be recovering a bit and it's not so I suppose we wait for those retail sales the possibility I suppose the the real go-to trade could be if we get stronger numbers out of Australia dollar China continues to uh maybe recover a bit and that's dollar China moving down um we might see Aussie back up towards certainly 7050 maybe back up to sort of 71 the figure so keep an eyee on that that could be the trade for today um most guys will be looking to continue with the trend Aussie it's a fairly steep trend line coming in here as you can see um people will be looking for these levels to sell and look they're coming in around about 7050 at the moment I would anticipate there to be sellers around that area um on the day and then obviously the next real um sell Zone will be 71 the figure and then all the way up here at 73 the figure so uh plenty to get stuck into today plenty coming later on uh any questions guys in the members just hit us in the trade zone um if not non-members just whip us an email to info traders4traders docomo as we can all right thanks guys this is Nick twow here in the Sydney trading room um signing out have a fantastic day cheers