Asian markets were trading without major changes, mainly due to holidays in China and Hong Kong. Japan's Nikkei fell 0.54% and Kospi 0.58%. Australian ASX declined by -0.02%.
Oil futures were trading down during the Asian session, with WTI moving around $49.84 a barrel, and Brent about $52.29 a barrel.
The dollar index rose during the Asian session and is currently at 97.58.
Economic calendar for the European and American trade session 30.05.2017
09:45 France - Gross Domestic Product
10:00 Spain - Consumer Price Index
15:00 Germany - Consumer Price Index
15:30 USA - Price Index
15:30 Canada - Current Account
17:00 USA - Consumer Confidence
USD - Dollar remains among the weaker currencies on the market, but has stabilized over the past few trading days. Failure to meet Trump's promises of tax reform is strongly negative for the dollar. Another factor is the speculation that the Fed may not raise the interest rate 2 more times by the end of 2017. For now we remain negative to USD.
GBP - GBP fell from the peak reached 2 weeks ago. Teresa May's last comments on the Brexit were aggressive, and this negatively affected the pound. Currently, investors prefer to stay away from the country's upcoming elections. If there is a surprise election and Theresa May loses, investors will surely boost their negative sentiment for the GBP.
CAD - The Canadian dollar started rising after the price of oil shot over 45 dollars a barrel. The correlation between the two instruments is strong. While the price of black gold is rising, we remain positive towards CAD.
EUR - The common currency is among the best performing in the market. Speculation to reduce or terminate QE is positive for the euro. Mario Draghi, however, is in a different opinion and in his statement yesterday said that until we see stable inflation above 2%, the quantitative facilities will not be stopped. Nevertheless, investors remain bullish towards the single currency.
Jr Trader Petar Milanov
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