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- Trading day in one post 04.04.2017
Trading day in one post 04.04.2017
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Loading...In Australia, the ASX 200 dropped 0.23 percent, with most sectors trading lower. The heavily-weighted financial subindex was down 0.42 percent as shares of major Australian banks slipped — ANZ declined 0.22 percent, while the Commonwealth Bank fell 0.49 percent and Westpac was down 0.41 percent and the National Australia Bank dipped 0.42 percent.
RBA left interest rates unchanged at record low : 1.5%.
In Japan, the Nikkei 225 fell 0.38 percent, retracing some of its early trade declines of 0.7 percent, while across the Korean Strait, the Kospi was down 0.12 percent.
Oil prices traded flat on Tuesday morning during Asian hours, following an overnight decline. Global benchmark Brent traded at $53.11 a barrel, while U.S. crude was at $50.24 at 10 a.m. HK/SIN.
Economic calendar for the European and American trade session 04.04.2017
11:30 UK - Construction PMI
12:00 EU - Retail sales
12:15 Australia - President Lowe speaks
15:30 USA - Trade balance
15:30 Canada - Trade balance
16:30 EU - ECB's president Mario Draghi speaks
17:00 USA - Factory orders
USD - The dollar returned part of it's losses and now is not among the weakest currencies at the market. But it's still far from the levels from a few months ago. For the moment USD remains stable and with positive sentiment in middle-term and long-term period. We will watch closely the tax reforms that are due.
JPY - With the upcoming presidential election in France, yen is more and more preferred by the investors as a hedging instrument against political instability. If we put that aside the yen will be among the weakest currency at the market. We remain cautious toward the JPY. Every speculation that Le Pen in not going to win the election will be negative for the JPY.
GBP - After the triggering Article 50 , the investors are in waiting for the start of the negotiations between UK and EU. Presumably GBP is highly under valuated , but we still do not know if that is the bottom of the currency. If the outcome from the negotiations or the beginning of a second referendum in Scotland for independence , we might see second flash crash. We remain negative toward the GBP.
CAD - The canadian dollar weakened after the new fall of the oil prices around 50 dollars for barrel. The correlation between the two instruments remains strong. If we see upward movement in the oi price, that means we can buy CAD.
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