Recap of Asian trade on 22.10.2018: USD, JPY, AUD

Recap of Asian trade on 22.10.2018: USD, JPY, AUD
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    The US dollar halted its gains at the end of last trading week.
    The greenback was trading lower for the obvious reason as traders were fixing profits on long bets.
    The index of the US currency jumped 1% or almost 100 pips last trading week.
    No wonder, traders were anticipating any excuse to close deals with a decent profit.
    Indeed, they found a good excuse in Europe.
    We will expand on it in our next news release about the European session.
    The US dollar index opened a new week below 95.60, which is the highest level of the previous week.
    At the same time, the US dollar is asserting strength against the Japanese yen.
    Moreover, the dollar/yen pair aims to break the resistance level of 112.80.
    The pair is on track for a two-month high.
    Amid escalating tensions between the US and Saudi Arabia, a lot of Western countries reject
    investments and joint projects with Riyadh.
    Meanwhile, the market expects punitive measures from Donald Trump and a response from Saudi Arabia.
    Global stock markets are trading in the green.
    China's benchmark indices are carrying on with the upward correction after a slump last week.
    Traders are encouraged as China's financial authorities signaled intention to prop up
    the domestic stock market.
    Thus, Shanghai Composite gained over 4% in the first trading day of the week.
    The Australian dollar is steel keeping afloat.
    The AUD/USD pair is trading with higher volatility in the range of 50 pips between 0.7095 and 0.7145.
    Such dynamic is very uncommon for this currency pair.
    To sum up, traders are braced for another turbulent week.
    Follow developments in financial markets on InstaForex TV channel.
    Stay tuned!
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