- Home
- >
- Fundamental Analysis
- >
- Trading day in one post 02.02.2017
Trading day in one post 02.02.2017
Rating:
Loading...The Asian markets were trading lower for the most part of the session.
The Nikkei closed down with -1.03%. Australian ASX is lower by -0.32%, Kospi fell by -0.03%. Hang Seng also fell -0.63%. USX index tracking the strength of the USD is at 99.540. The price of the Oil futures were almost unchanged trading at $53.55 per barrel.
Calendar for the European and US sessions today:
10:15 - Swiss - Retail Sales
11:00 Euro zone - Economic Bulletin
11:30 - UK - Construction PMI
12:00 - Euro zone - PPI
14:00 - UK - Inflation report
14:00 - UK - Interest Rate decision
14:15 - Euro zone - ECB Draghi Speaks
14:30 - UK - BoE Carney Speaks
14:30 - USA - Challenger Job Cuts
15:30 - USA - Initial Jobless Claims
15:30 - USA - Nonfarm Productivity
16:45 - USA - Bloomberg consumer confidence
16:45 - USA - ISM - NY Business Conditions
17:30 - USA - Natural Gas Storage
USD - The currency continue to weaken against all pairs, and maybe this is not a correction, but rather new sentiment for lower dollar. This situation may continue until the moment when the FED decides to raise the rates, as today's decision was to keep rates unchanged at 0.75% and the USD fell further. Friday we expect the NFP and this is the biggest and most important news of the week and if the data is better than expected we may very well see a stronger USD then.
JPY - The currency enjoys the support from investros, after Trump's induced global uncertainty. Also the last rate decision from the BoJ was to keep rates unchanged as well. Continue to be cautions with JPY.
CAD - The positive correlation between CAD and Oil continues. Until the Oil is above $50 and supported, the CAD will be supported as well. This situation may not continue as, reports show that more oil platforms are in use in the USA and production of shelf oil. The added production from the US will erase the cut made from OPEC last year.
EUR - The political uncertainty in Europe and the upcoming elections weight negatively on the common currency, but the weak dollar is positive for the currency. The euro remains stable and supported and continues to notch up. The last comments from the German politician that the Euro currency is under valued gave it a new push up. We do remain short on the currency but with caution.
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
