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- Trading day in one post 06.02.2017
Trading day in one post 06.02.2017
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Loading...The Asian markets were trading mostly up during the session, only the Australian ASX 200 was lower.
The Japanese Nikkei was up by 0.07%. ASX lower by -0.19%, Kospi was positive by 0.22%. Hang Seng was trading nicely up by 0.62%.
The US index, which measures the strength of the dollar against a basket of other currencies was trading at 99.760, with not much change. Price of Oil did go up slightly at $54,00 per barrel
Calendar for the European and American trading sessions:
09:00 - Germany - German Factory Orders (MoM) (Dec)
11:10 - Eurozone - Retail PMI
11:30 - Eurozone - Sentix Investor Confidence (Feb)
16:00 - Eurozone - ECB President Draghi Speaks
17:00 - USA - CB Employment Trends Index (Jan)
17:00 - USA - Fed Labor Market Conditions Index
23:30 - USA - FOMC Member Harker Speaks
USD - Dollar was weak again but the losses were small for now. There are no important economic news today from the USA, but we do expect speech from Harker from FED and his thoughts of the economy might influenced the next dollar move on the short term. We still are looking for clear signals to go long the currency.
JPY - The JPY did weaken during the session after the Nikkei was trading higher, but we are still exercising caution as there are no clear signals to short the currency as yet.
CAD - Canadian dollar is still supported and that would be the case as the Oil price is trading higher, even with slow temp. The Central Bank is on hold as well. The US economy is growing and that is positive for the CAD economy as well. Most analyst believe that the Oil price still has upside to go.
EUR - The weak dollar is positive for the Euro, but this does not mean that is strong. Its relative strength is due to the weakness of the other currencies. We would only seek signals to go long the Euro only against the weakest currency like the EUR/GBP.
AUD/NZD: The risk currencies again picked up momentum during the session due to the weak dollar again and this situation is to continue for now. The sentiment remains supported. We do expect that the USD will turn around and we are awaiting for clear signals before we go short against them.
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