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- Trading day in one post 05/04/2017
Trading day in one post 05/04/2017
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Loading...Asian markets were trading lower after the indexes in the US fell, although the Fed left interest rates unchanged. Chances for higher interest rates in June rose from 60% to 75%.
The Australian ASX 200 declined by 0.50% due to the drop in metals with copper declining the most as investors began to worry about the growth of the global economy after worse PMI data in China. Shanghai Composite dropped by 0.16%
Japanese financial market remains closed today.
Facebook and Tesla went out with their earnings reports which were worse than expected.
The oil was trading unchanged at its lowest levels of $47.60 a barrel during the Asian session.
Economic calendar for the European and US market sessions:
08:45 Switzerland- SECO Consumer Climate
10:50 France - Services PMI
10:55 Germany - Services PMI
11:00 Europe - Services PMI
11:30 UK - Services PMI
12:00 Europe - Retail Sales
13:30 Europe - ECB's Lautenschlaeger Speaks
14:00 Europe - ECB's Praet Speaks
15:30 USA - Initial Jobless Claims
15:30 USA - Trade Balance
15:30 USA - Nonfarm Productivity
15:30 USA - Unit Labor Costs
15:30 Canada - Trade Balance
16:45 USA - Bloomberg Consumer Confidence
17:00 USA - Factory Orders
19:30 Europe - ECB President Draghi Speaks
23:25 Canada - BoC Gov Poloz Speaks
EUR – The euro continued to trade higher during the Asian session. This is due to the calm of investors about the French elections. Macron again defeated Le Pen after another debate.
USD – The dollar rose against the yen to 112,740 during the night after Fed's decision to leave the interest rates unchanged. The Central bank will focus on the growth of the labor market as the most important factor for the state of the economy and further interest rates hike. We remain long to the US dollar against the yen.
CAD - The oil price fall has a negative impact on the Canadian dollar. It is trading lower against the most currencies. Oil stocks were also negative giving additional currency pressure.
Trader Senan Fuchedzhiev
Varchev Traders Read more:
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