- Home
- >
- Fundamental Analysis
- >
- Trading day in one post 05.06.2017
Trading day in one post 05.06.2017
Rating:
Loading...Most of the Asian markets were traded downwards in the first day of the trading week.
Japan's Nikkei rose 0.14%, Australian ASX wiped -0.71% of its value. Kospi -0.09% decrease. Chinese markets traded down with Shanghai composite with -0.26% on red. Hang Seng is trading -0.12% down.
The dollar index measuring the strength of the US currency was at 96,800, up from 96,665 at the end of the US session.
Oil futures are trading slightly up during the night session at $ 47.60 a barrel.
The US indices futures opened with declines, but they went up again and traded slightly. The impact of the terrorist act in London had a limited but negative effect for now.
Economic Calendar for the European and American Trade Sessions 02.06.2017
10:50 France - PMI Services Index - Final
10:55 Germany - PMI Index in Services - Finals
11:00 Eurozone - PMI Index in Services - Final
11:30 UK - Markit / CIPS Services PMI Index
11:30 Eurozone - Investor Confidence SENTIX
17:00 US - Factory orders
USD - The dollar dropped significantly on Friday after worse NFP data from 138K. The US currency remains under pressure in the short term, at least until the next Fed meeting later this month. We remain bearish to the US currency in the short term. Fundamentally, the Fed's position has not changed and we expect an increase in interest rates, but it is still to be seen when exactly the Central Bank will do so.
GBP - UK elections to be on 8 June this week. We expect the volatility of the GBP to grow, and speculation. Any new pre-counting has a serious impact on the strength of the pound. Now, according to the latest data, showed that Theresa May, though difficult to manage his own cabinet and the pound did not fall, taking into account the weaker dollar, is likely to continue up GBP/USD.
JPY - The Japanese currency boosted opening the currency market, but then weakened. The Nikkei index continues to rise and this pushes the yen further in the downward direction. Fundamentally, Japan's monetary policy remains strongly loose and will continue to be heavily negative for it. We will look for NZD/JPY and EUR/JPY.
Indices - S&P, DJIA and Nasdaq reached new peaks after data from the US unemployment market. Positive sentiment on the stock market is preserved. Shares in Japan and Europe continue to rise as well.
Trader Senan Fuchedzhiev
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
