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- Trading day in one post 11.05.2017
Trading day in one post 11.05.2017
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Loading...Asian markets traded higher today, following the positivism during the U.S. trading session and the fire of the FBI director Comey from the President. The Nasdaq Index closed on record level of 6,129.14, and DJIA edged lower, as corporations as Snap, Boeing and Disney declined.
Japanese Nikkei gained 0.15%, Aussie's ASX rose with 0.41%. Chinese markets declined. Shanghai composite lost -0.41%. Korean Kospi won 0.87%.
The Dollar Index is on 99,600 level. Oil's futures rose during the Asian hours, as the price reached $46.55 per barrel.
RBNZ left the interest rates in the country unchanged at 1.75% and Wheeler mentioned that these levels will stay the same in the long run. This caused decline in the NZD, as she fell with 1% against most of its peers.
Economic calendar for the European and American trading sessions
09:00 Germany - German WPI
10:00 Europe - ECB's Constancio Speaks
10:15 Switzerland - CPI
10:30 Switzerland - SNB Chairman Thomas Jordan speaks
11:00 Europe - ECB Economic Bulletin
11:30 UK - Industrial Production
11:30 UK - Trade Balance
12:00 Europe - EU Economic Forecasts
13:25 USA - FOMC Member Dudley Speaks
14:00 UK - BoE Interest Rate Decision
14:00 UK - BoE MPC Meeting Minutes
Tentative USA - OPEC Monthly Report
15:00 UK - NIESR GDP Estimate
15:30 USA - Initial Jobless Claims
15:30 USA - Core PPI
15:30 Canada - New Housing Price Index
17:30 Canada - BoC Review
19:30 Europe - ECB's Praet Speaks
USD - The sentiment for the greenback remains positive and the currency rose against most of its crosses, however is still trading in narrow range. Traders are still looking for a direction in the movement. We remain long on the Dollar.
JPY - The Yen is weakening for the moment, however all of its crosses reached a resistance. There's a possibility for correction. BoJ will keep it's accommodative monetary policy, nevertheless that the economic data is showing growth. We remain long on USD/JPY.
EUR - The EUR remains stable and the price continues to be traded around resistance levels. It is possible to see a jump in the price. Some investors think that ECB will tighten its monetary policy, right after the German's elections. We remain caution towards the common currency and we are looking for a good positions for trading, only after clear signals though.
GBP - The GBP keep its positions for the moment, however today we expect the interest rate decision from BoE. No changes are anticipated, but it will important to wait for the commentary from the bank regarding the outlook of the economy for the future. There is room for corrections, as the levels are heightened. There are a lot of unclear aspects regarding the trade policy with the EU, and the growth of the economy remains under question.
Commodities - Globally, the price of the commodities is declining - Gold, Silver, Soybean and Copper. Traders still don't think that China's economy is strong enough. This supports the USD, however it has negative effect on the indices.
Senan Fuchedzhiev - Trader
Varchev Traders Read more:
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