Trading day in one post 08/08/2017

Overview of the Asian markets: Asian indices were trading lower after the muted US markets session as investors awaited for more clues on global demand and U.S. interest-rate policy. Japan’s Topix index fell 0.3 percent, while Australia’s S&P/ASX 200 Index lost 0.7 percent. South Korea’s Kospi index was 0.1 percent lower. Hang Seng Index was little changed at the open.

Currency markets: USD: The Bloomberg Dollar Spot Index was lower. It advanced on Monday, extending its gains from Friday. JPY: The yen was little changed at 110.69 to the dollar. EUR: The euro traded at $1.1816 after gaining 0.2 percent on Monday. AUD: The Aussie rose to 79.31 U.S. cents. July business confidence increased, according to a National Australia Bank report.

Commodities Markets: Crude Oil: Crude oil was trading with little change during the Asian markets session. West Texas Intermediate crude dropped 0.3 percent to $49.26 a barrel. Oil producers are meeting in Abu Dhabi on Monday and Tuesday to figure out how to improve compliance with a deal struck by OPEC and other exporters to keep 1.8 million barrels a day off the market. However, Libya continues to increase its output as a non-OPEC country, pushing crude oil prices down. GOLD: Gold was trading higher with 0.2% increase to $1260.41 an ounce. The depreciation of the US dollar helped raise the prices of precious metals in recent weeks.

European markets: European stock indices are set to open lower today. Germany's DAX will open 15 points lower at 12237.1. French CAC will start about 5 points lower at 5201.9, while British FTSE 100 will open 15 points lower at 7519.0. During the last session European markets were trading lower affected by the United Nations new sanctions against North Korea.

US markets: US indices closed slightly higher on Monday as DJIA and S&P 500 continued to make new records. The strength of the technology sector, together with the consumers, has balanced the weak energy sector. DJIA closed at 22,119.70. S&P closed up to 2479.75, and Nasdaq up to 5936.45. The earning season is on track, with most US companies reporting better than expected earnings. During the Asian session, US indices moved slightly down. The Fed is expected to begin with the balance sheet cut in early September, which will seriously affect the USD as well as the indices.

Economic calendar

08:45 Switzerland - Unemployment rate
09:00 Germany - Trade balance
Tentative - China - Import and Export
09:45 France - Trade Balance, Import and Export
15:15 Canada - Housing starts
15:55 USA - Redbook
17:00 USA - JOLTs Job Openings

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