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- Trading day in one post 09.08.2017
Trading day in one post 09.08.2017
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Loading...Overview of the Asian markets: Asian markets traded lower, following the decline in the U.S. session, after Donald Trump made a warning, that he will meet North Korea with "fury and fire" if they don't stop to threaten USA. Japanese Topix declined with 1.3%, Kospi shed 0.8%. Aussie's ASX 200 gained 0.5%, as Hang Seng lost as much. Shanghai Composite sank with 0.4%.
Currency markets: JPY rose with 0.4% to 109.91 against the dollar, a 8-week high. The common currency traded around $1.1749, and AUD declined with 0.6% to 78.71. South Africa's Rand tumbled with 1.1%, as president Jacob Zuma survived a bid by opposition lawmakers to oust him, crushing the prospect of new leadership reviving the country's economy.
Commodities markets: Gold added 0.4% to $1,265.32 per ounce, after climbing with 0.3% in Tuesday. The movement was due to the heightened tensions between the U.S. and North Korea. Oil held losses near $49 a barrel amid speculation that a forecast rise in U.S. output will offset OPEC-led efforts to trim a global glut. Futures lost in 0.8 percent in the previous two sessions and were little changed in New York on Wednesday, even as industry data showed crude inventories slumped. The Energy Information Administration marginally increased its estimates for U.S. output in 2017 and 2018, changing its forecast this year to average 9.35 million barrels a day, up from 9.33 million.
While oil is down for a third day, prices are less than $1 lower from Friday’s close as investors weigh rising global supply against output curbs from the Organization of Petroleum Exporting Countries and its allies. OPEC said Iraq, the United Arab Emirates and Kazakhstan, which have lagged in their pledged curbs, affirmed their commitment to the accord after a meetings in Abu Dhabi that ended Tuesday.
European markets: The negative sentiment will cast a shadow over the European markets, as the indexes are expected to open lower. DAX will open 29 points lower to 12,211, CAC will lose 13 points to 5178 and UKX will shed 6 points to 7505.
US markets: U.S. stocks fell and a measure of equity volatility spiked higher after President Donald Trump delivered a warning to North Korea amid rising tensions between the nations. Treasuries slipped, while the yen strengthened.
The S&P 500 Index fell to session lows and the CBOE Volatility Index jumped 11 percent shortly before 3:30 p.m. in New York when Trump said further threats from the country would be met with “fire and fury.” The comments jolted markets from a summer slumber, with U.S. assets largely little changed for most of the session. The 10-year Treasury yield rose. Crude retreated toward $49 a barrel.
Trump’s comments followed a report in the Washington Post, citing a Defense Intelligence Agency analysis, that Pyongyang successfully developed a miniaturized nuclear warhead that could fit onto its missiles. He said North Korea will be “met with fire and fury and, frankly, power the likes of which the world has never seen before” if Kim Jong Un’s regime continues to threaten the U.S.
Economic calendar for the European and U.S. trading sessions
12:35 Europe - German 5-year Bobl Auction
14:00 USA - MBA Purchase Index
15:15 Canada - Housing Starts
15:30 Canada- Building Permits
17:00 USA - Wholesale Inventories
17:30 USA - Crude Oil Inventories
20:00 USA - 10-Year Note Auction
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