Trading day in one post 05.07.2017

05.07.2017 / 08:20

Rating:

The Asian markets opened in a positive territory at the beginning of the trading session, however they turned negative and towards the end again turned positive. Investors continue to be concerned about the latest missile launch by N. Korea.

As when traders avoid risk, the JPY and Gold were supported and USD strengthened.

ASX 200 was trading lower by -0.36%, Hang Seng positive by 0.35%. The Shanghai Composite was higher by 0.24%. Nikkei 225 higher by 0.10%

Calendar for the European and American trading sessions:

10:50 - France - French Services PMI (Jun)
10:55 - Germany - German Services PMI (Jun)
11:00 - Euro zone - Services PMI (Jun)
11:30 - UK - Services PMI (Jun)
12:00 - Euro zone - Retail Sales (MoM) (May)
15:55 - USA - Redbook
17:00 - USA - Factory Orders
21:00 - USA - FOMC Meeting Minutes

CAD - The Canadian currency is the clear winner, due to the rhetoric of the BoC that it might need to raise the rates. Traders supported the CAD. We remain long.

JPY - Was the strongest currency during the Asian session due to the risk aversion sentiment, but in order this to continue it will need help by lower prices of the indices. This situation will be short lived.

AUD - Currency tumbled after the RBA left rates unchanged. From one side the currency is supported by the raising commodity prices and better data from China and from the other, worst data from the country itself. We will practice patience until we see a clear signal, in which direction the AUD will be headed.

EUR - Was slightly lower, as the loose monetary policy will remain in force for much longer.

Trader - S. Fuchedzhiev

Varchev Traders

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Trading day in one post 05.07.2017

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