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- Trading day in one post 08.03.2017
Trading day in one post 08.03.2017
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Loading...Asian equities were in the red on Wednesday amid mounting geopolitical risks in the region and rising expectations that the Federal Reserve would tighten monetary policy next week.
In Japan, the Nikkei 225 fell 0.58 percent as the yen strengthened against the greenback.
Australia's ASX 200 was off 0.14 percent, with heavy losses in its materials sub-index, down 0.89 percent.
Mainland Chinese markets were negative during early trade, ahead of its key trade data. Shanghai composite slipped 0.06 percent and Shenzhen composite dipped 0.17 percent.
Hong Kong's Hang Seng index fell 0.17 percent.
South Korea's Kospi gave up earlier gains to trade down 0.14 percent.
The Dow Jones industrial average fell 29.58 points, or 0.14 percent, to close at 20,924.76, the S&P 500 index was down 6.92 points, or 0.29 percent, to end at 2,368.39, while the Nasdaq composite finished lower by 15.25 points, or 0.26 percent, to 5,833.93.
The dollar remained was steady against a basket of currencies, trading at 101.76 on Wednesday morning in Asia. The yen traded at 113.87 against the greenback, while the Australian dollar slipped from levels above $0.76 to $0.7588.
U.S. crude fell 0.1 percent to $53.14 a barrel, while global benchmark Brent crude was down 0.2 percent to settle at $55.92.
Economic calendar for European and American trade sessions
9:00 Germany - Industrial production
10:15 Switzerland - CPI
15:15 USA - ADP Nonfarm employment change
15:15 Canada - Housing starts
15:30 USA - Labour productivity
15:30 Canada - Building permits
17:30 USA - Crude oil inventories
USD - Today we are expecting ADP Nonfarm payrolls from USA. Better than expected data will support the green currency. We are closing to 15.03. The expectations are for a rate hike with 0.25 basis points. We expect stronger dollar and will search for a long positions.
GBP - In the next few days we may see GBP increase. UK's Parliament , again rejected Theresa May's wish for an early activation of Article 50. Parliament demanded to have more say in a minister's decision. This probably will be positive foe the pound in short-term period.
CAD - The canadian dollar significantly decreased due weak oil prices. Yesterday the oil minister of Saudi Arabia mentioned that OPEC hold it's deal and even looks for an additional cut around May. These new are positive for Oil and CAD.
Indexes - Since the start of the week all indexes are correcting. Maybe this is the moment for new long positions. We remain positive toward indexes.
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