Trading day in one post 09.05.2017

09.05.2017 / 08:20

Rating:

The Asian markets opened higher but later during the session they started to fall. The data from Australia for retail sales came in worst than expected at -0.1% vs. 0.3%. The Asian session was calm without any big moves, in anticipation of the Australian Federal budget and the Presidential elections in South Korea.

Nikkei was trading lower by -0.08%, ASX 200 fell with -0.36%, only HSI was higher by 0.18%. Shanghai Composite was lower again at -0.17%

Price of Oil was steady with almost no movement at $46.50 per barrel during the night.

Economic calendar for the European and American sessions today - 09.05.2017

08:45 - Swiss - Unemployment Rate n.s.a. (Apr)
09:00 - Germany - Import/Export/German Trade Balance (Mar)
15:30 - Canada - Building Permits (MoM) (Mar)
16:00 - USA - FOMC Member Kashkari Speaks
17:00 - USA - JOLTs Job Openings (Mar)
20:00 - USA - FOMC Member Rosengren Speaks
23:15 - USA - FOMC Member Kaplan Speaks

EUR – The Euro continued to trade lower after the final results from France's elections but the common currency is stable and this may be just a correction before it starts to go up again. We remain cautious for the Euro and its crosses.

USD – The USD jumped up against the JPY and other currencies. Its strength was mostly noticeable against the CHF and AUD, after the worst than expected data from Australia and there is a the possibility of stronger movement to the downside. We remain short on AUD/USD.

CAD - The lower price of the Oil has a negative pressure on the CAD. It is traded lower against most of the currencies. The latest data from the economy are showing lower figures and hot situation with the rising prices of the housing. We do remain short on the CAD.

JPY - The JPY was trading lower but it did gain strength towards the end of the trading session. The indices did try to rally and the JPY fell. The USD was stronger against the Japanese currency and we remain long on USD/JPY.

Trader Senan Fuchedzhiev

Varchev Traders

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Trading day in one post 09.05.2017

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