Varchev Finance: Trading day in one post 05.10.2017

Asian Stock Market: Asian markets were trading mixed. ASX 200 advanced 0.24 percent to 5,665.6 in late-morning trade, Japan's Nikkei 225 gave up early gains of more than 0.1 percent to trade near flat. The session in Asia followed a record-high close for U.S. equities overnight. Markets in China, Hong Kong and South Korea are shut for public holidays.

Currency Market: The dollar's rally is slowing as investors expect Donald Trump's decision  for new chairman of the Fed and the development of tax reform. However, the dollar is the strongest currency in the Asian session after the better data on Wednesday. The yen ranks second, trading slightly down against the dollar, but rising against all other currencies. The Australian is the weakest currency at the moment after the bad Australian data. NZD is the worst performing currency after the Australian dollar, probably due to the weak risk appetite from investors.

Commodity Market: After reaching a seven-week low, gold seems to have found support at levels of $ 1267.50 per ounce. Nevertheless, the precious metal movement remains downward, with the next possible support at around $ 1261. The strong dollar has a negative impact on gold due to the strong backward correlation between the currency and the raw material. Oil is traded at a slight increase near the 200-day MA after 7 consecutive days of losses. Better data on US oil reserves is likely to support the price of black gold and we can probably accept the level of $ 50 as a level of support.

European Stock Market: The moods before the opening of European markets are positive. Shares in the region will follow the rise in US markets, and European indices are expected to open up. The German DAX is expected to open 9 points higher, the French CAC with a 2 point increase, and UKX grew by 6 points.

U.S. Stock Market: U.S. stocks closed at record highs on Wednesday following the release of strong economic data. The Dow Jones industrial average gained 19.97 points to an all-time closing high of 22,661.64. The index also notched an intraday record of 22,685.94. 3M and UnitedHealth contributed the most to the gains. The S&P 500 gained 0.1 percent to 2,537.74, notching intraday and closing records. Utilities and real estate led advancers. The Nasdaq composite advanced just 0.04 percent to 6,534.63, but still managed closing and intraday records.

Economic calendar for the European and U.S. trading sessions:

10:15 Switzerland - CPI

14:30 Europe - ECB Publishes Account of Monetary Policy Meeting

15:30 USD - Initial Jobless Claims

15:30 USD - Trade balance

15:30 Canada - Exports/Imports

15:30 Canada - Trade balance

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