In the Asian session, traders are digesting yesterday’s macroeconomic statistics. The reports managed to beat expectations. How may it impact the main trading instruments of the Asian session? Watch our video review and find out!
Let’s look at the chart, showing the number of new home sales in the United States for October. The indicator slightly decreased but it was quite predictable given the current uncertainties. Perhaps in November, the figure will exceed the forecast reading.
The US dollar index dipped due to a correction and ahead of long holidays. Experts believe that its decline will be short-lived. So, from the support level of 96.60, the US dollar may rise to 97. Besides, the market situation is now perfect for its further rally. However, before opening positions, bear in mind that the trading floors in the US are closed today on the occasion of Thanksgiving Day.
The dollar/yen pair keeps moving up on Thursday despite a downward medium-term forecast. Today, the pair has reached 115.40. It may soon approach the highs of January 2017. The pair gained momentum after Japan’s services producer price index jumped to the highest level since November 2001. Nevertheless, the pair may decrease because of the worsening epidemiological situation in the country. Analysts assume that before falling to the indicated level of 113.50, the pair may rise to 116.
The Australian dollar may continue to decline before the correction. The AUD/USD pair is trying to consolidate around the 0.7200 mark. Yet, we believe that the correction has not started yet and it may slide to 0.7170 in the coming days. Despite the upcoming drop, the Aussie is likely to regain ground thanks to growing demand for iron ore. Its price has soared by about $15 in 4 days to $103 per ton amid expectations of easing restrictions on China’s real estate market. So, Australia may increase exports of this commodity to China.
That’s all for now. We would like to remind you that there will be no video review on the American session as the US celebrates Thanksgiving Day. However, we will release the video on the New York session tomorrow summing up the results of the week. See you soon!

00:00 Intro
00:19 US New Home Sales
00:39 USDX
01:12 USD/JPY
01:55 AUD/USD
https://www.forex-insta.com

FX Analytics - https://www.forex-insta.com/forex_analytics
Forex Calendar - https://www.forex-insta.com/forex_calendar
Forex TV from InstaForex - https://www.forex-insta.com/instaforex_tv

Forex charts - https://www.forex-insta.com/charts
Instant account opening - https://www.forex-insta.com/fast_open_live_account
Forex Trading Contests - https://www.forex-insta.com/forex_contests

List of official InstaForex blogs:
https://www.facebook.com/instaforex
https://www.instagram.com/instaforex/
https://twitter.com/InstaForex

#forex_news # asian_session #instaforex_tv