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- Varchev Finance: Trading day in one post – 24.07.2018
Varchev Finance: Trading day in one post - 24.07.2018
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Loading...Asian Stock Market: Asian stocks advanced as investors kept an eye on bond yields and the falling Chinese yuan. Japan's Nikkei 225 advanced 0.61%, while Greater China markets also gaining momentum, Hong Kong's Hang Seng index rose by 1.50%, on the mainland, Shanghai Composite jumped 1.55% leading the region. In South Korea, Kospi posted a 0.35% growth driven by recent corporate reports. S & P / ASX 200 is trading at a modest increase of 0.62%.
FX Market: The dollar index has reached a key level of resistance that has not fallen over the past two months. U.S president Trump's tweets, expressing displeasure over dollar strength and Fed policy, are piling on pressure on the USD with technicals signaling potential deeper declines. Since making a new one-year high at 95.53 in mid-June, the dollar index has struggled despite hitting a marginal new 95.65 high July 19 before moving sharply lower. Index players are now focused on the 93.908 23.6% fibo. A break and close below the 55-DMA at 94.16 would only add to bearish sentiment. CFTC headway now could see these positions trimmed. Yesterday it became clear that Bank Of Japan is actively considering a change in its monetary policy. Traders have already accumulated a potential change in interest rates from -0.10% to 0.00%., which led to increased demand and yen rise. At the same time, the EUR/USD is on track to record a key breakthrough in a short-term diagonal that may boost the euro's sentiment against the USD.. GBP, Brexit political friction continues, with the latest being "Brussels rejects UK's financial services Brexit plan" Cable hasn't reacted to this at all since it came out a few hours ago and either the market is still turning the ignition key for the week or the USD bearish tone is leading the way (probably both).
Commodity Market: Oil prices eased as the focus turned to oversupply worries and away from escalating tensions between the U.S. and Iran. Spot gold is a fraction lower at $1.220.
European stock market: Prior to the start of the Old Continent session, major stock index futures are trading higher following the positive mood all over the world, while investors expecting coming PMI data for the region's leading economies.
US Stock Market: More than 17 percent of S&P500 companies have reported earnings for the previous quarter yestarday, with 82 percent of those topping expectations.Shares in the parent of Google climbed 3.6 percent after hours to hit a record high, valuing the group at a cool $870 billion.. Today's biggest move are expected to announce: 3M, United Technologies, Harley Davidson, Verizon - premarket and AT & T aftermarket.
Economic Calendar:
10:00 France - Markit Services PMI
10:00 France - Markit Manufacturing PMI
10:00 France - Markit PMI Composite
10:30 Germany - Markit Services PMI
10:30 Germany - Markit Manufacturing PMI
10:30 Germany - Markit PMI Composite
11:00 EU - Markit Services PMI
11:00 EU - Markit Manufacturing PMI
11:00 EU - Markit PMI Composite
16:00 U.S. - Housing Price Index
16:45 U.S. - Markit Services PMI
16:45 U.S. - Markit Manufacturing PMI
16:45 U.S. - Markit PMI Composite
17:00 U.S. - Richmond Fed Manufacturing Index
23:30 U.S. - API Weekly Crude Oil Stock
Trader Georgi Bozhidarov Read more:
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