Trading day in one post, 05.05.2017

05.05.2017 / 08:20

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Asian markets struggled on Friday as traders await the U.S. nonfarm payrolls data later and after drops in commodity prices overnight.

Nikkei gained 0.70%, Kospi rose with 0.97%.
ASX 200 declined with -0.70%, and HSI lost -1.16%.
Hong Kong Hang Seng declined with -0.90%, while Shanghai Composite tumbled with -1.08% and Shenzen Composite slid with -0.84%.

Oil took a big hit during the night session, reaching a 5-month low, as WTI lost -4.8% to $45.52 per barrel, and Brent tumbled with -5% to $48.26.

Economic calendar for the European and American trading session, 05.05.2017
11:10 Europe - Retail PMI
15:30 USA - Average Hourly Earnings
15:30 USA - Average Weekly Earnings
15:30 USA - Nonfarm Payrolls
15:30 USA - Unemployment Rate
15:30 Canada - Employment Rate
17:00 Canada - Ivey PMI
18:30 USA - FOMC Member Stanley Fischer Speaks
19:45 USA - FOMC Member Williams Speaks
20:30 USA - Fed Chair Yellen Speaks

EUR - The common currency traded higher during the night session. This is due to investor's relief regaring the French presidential elections. Macron again with victory over Le Pen in another debate.

USD - The greenback lost ground against the JPY during the Asian session. The Central Bank will focus on the NFP data, which is a key way to measure the health of the economy and the outlook of the interest rates.

CAD - The decline in Oil's price caused negative effect on the Canadian. It traded with losses against most of its peers. The Oil stockpiles were negative, which caused additional pressure on the currency.

JPY - The Yen was trading higher, after BoJ's Governor Haruhiko Kuroda commented, that there's been a shift in the labor market, and that will be very positive for the economy in the country. This will lead to a higher wages and prices in Japan.

Jr Trader Alexander Kumanov

Varchev Traders

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Trading day in one post, 05.05.2017

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