- Home
- >
- Fundamental Analysis
- >
- Trading day in one post 03.02.2017
Trading day in one post 03.02.2017
Rating:
Loading...The Asian markets were trading lower for the most part of the session, with only the Nikkei in positive territory
Japanese Nikkei closed up with 0.09%. Australian ASX was down with -0.47%, Kospi fell with -0.18%. Hang Seng was lower by -0.48%.
The DXY that measures the USD strength did move higher slightly at a level of 99.870.
The Oil futures moved up to $53,90 per barrel.
Calendar for the European and US sessions:
10:50 - France - Services PMI
10:55 - Germany - Services PMI
11:00 - Euro Zone - Services PMI
11:30 - UK - Services PMI
12:00 - Euro Zone - Retail Sales
15:30 - US - Average Hourly Earnings (MoM) (Jan)
15:30 - US- Non-Farm Payrolls
15:30 - US- Unemployment Rate (Jan)
15:30 - US - Participation Rate (Jan)
15:30 - US - Private Non-Farm Payrolls
16:45 - US - Services PMI
17:00 - US - Factory Orders (MoM) (Dec)
17:00 - US - ISM Non-Manufacturing PMI (Jan)
20:00 - US - U.S. Baker Hughes Oil Rig Count
USD - The USD continue to loose ground against all other currencies, but the rate has slowed down. Today we expect the Non-Farm Payrolls and if the data comes out better than expected this will change the situation and the USD might start to go up with the underlined trend. Continue to look for reversal for longs.
JPY - The Japanese currency again was the strongest at one point during the session and this had a negative impact on the indices, as all were trading lower, with the exception of the Nikkei. The last rate decision from the BoJ, also did not help to lower its value. The monetary policy meeting minutes did not bring anything new forward, only the rethoric from the Central bank that QE will continue until the goals for inflation are met. We continue to stay short for the JPY
CAD - As long as the Oil price is above $50 per barrel, this will support the CAD. Most analyst remain optimistic that there is a bit more for the Oil price to grow up to around $60 per barrel and that is positive for the currency. Today we await the reading for the Oil rig count.
EUR - The weak USD is positive for the common currency and its been going up slowly but steady . This all can change today due to the NFP data. Possibly the biggest reaction to the data will be seen at the USD/JPY and EUR/USD. We continue to be short towards the Euro.
AUD/NZD: Risk appetite currencies did strengthen quite a bit, due to the weak USD, this can all change today if data supports the USD. The sentiment continue to be positive for them, but the fundamental factors do support the USD.
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
