Trading day in one post 07.02.2017

07.02.2017 / 08:47

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Asian markets were negative on Tuesday following the sluggishness in global equities amid risk-off sentiment. Investors are nervous about the economy and President Trump's policies.

Nikkei 225 lost 0.88 percent on the back of continued yen strength, ASX 200 fell 0.37 percent and Kospi slipped 0.26 percent. Shanghai composite dipped 0.02 percent while Shenzhen composite was up just 0.07 percent.

U.S. crude were up 0.28 percent at $53.16 a barrel

Economic calendar:
08:45 Switzerland - SECO Consumer Climate
09:00 Germany - Industrial Production
09:45 France - Trade Balance
10:30 UK - Halifax House Price Index
15:30 USA - Trade Balance
15:30 Canada - Building Permits
15:30 Canada - Trade Balance
17:00 USA - IBD/TIPP Economic Optimism
17:00 USA - JOLTs Job Openings
17:00 Canada - Ivey PMI
22:00 USA - Consumer Credit

USD - Dollar continues to weaken amid growing yen. Fundamentally there is nothing to support the dollar, so avoid long positions in the US currency.

NZD / AUD - Risk currencies perform best during Asian session. Exotic gained strength after the Bank of Australia left interest rates unchanged. Risk appetite has a positive impact on kangaroos and kiwi.

CAD - Canadian remained relatively stable after the increase in oil prices. Hedge funds have reached record bets on rising price of black gold in the long term can have a positive impact on the Canadian currency. On the other hand, OPEC is expected to reduce production by mid 2017. Long-term we long to CAD.

GOLD - Gold remained stable due to the weak dollar. Uncertainty about the US currency makes investors to invest in safe havens like gold. While sentiment about the dollar remain negative Long precious metals.

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Trading day in one post 07.02.2017

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