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- Trading day in one post 11.09.2017
Trading day in one post 11.09.2017
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Loading...The Asian Stock Market: Asian stocks were trading upwards. Japan's Nikkei futures rose by 1.38% as a result of the weakening yen. Kospi climbed 0.88%. Australian ASX added 0.57% to its value. The Chinese markets were also in green. Hang Seng has a 1.01% increase, Shanghai composite is up by 0.25%, and Shenzhen composite by 0.32%.
Currency market: JPY: The yen falls on the first day of the week. North Korea's market expectations for new nuclear tests have not been justified. Last week investors traded that the country would make a ballistic test and this raised the price of hedging instruments like JPY. But today, after the weekend stays calm, we expect the yen to fall. EUR: After the euro reached a two-year high against the dollar, the single currency declined somewhat, but this was probably due to profit taking. We remain long to EUR as we can use any correction for new purchases.CAD: The Canadian dollar remains the strongest currency in the market. Expectations for another rate hike by the end of this year are over 50%. Although the power of CAD is directly proportional to the price of oil which is currently relatively cheap, Canada remains one of the few G-7 countries that does not use a QE program, making the currency stable.
Commodities market: GOLD: Since the opening of the market today, gold has declined. The main reason for this is as well as JPY, gold is treated by investors as a hedging instrument and North Korea's "silence" is negative for the metal. Oil futures indicate a rise in black gold on Monday after a sharp decline of 3% on Friday. WTI climbed 0.82% to 47.87 dollars a barrel, and Brent added 0.5% and traded at $ 54.05 a barrel.
European stock market: European exchanges will start the week very positively. The German DAX will open a 90 point increase, the French CAC with 33 points increase and UKX with a 50 point increase. After 2 weeks, the is the german chancellor's election , where Angela Merkel is favorite. This gives calm to investors and they are looking for risky assets.
US Stock Markets: US stock indices ended the week negatively. DJIA declined by 189.77 points. S&P declined by 0.61% and Nasdaq fell by 1.17%. Today, we expect European and US exchanges to trade with increases after a positive sentiment from Asia. Safe-havens are not demanded, and risky assets are still in vogue.
Economic calendar for the European and American trade sessions 11.09.2017
10:00 EU - ECB's Coeure speaks
15:15 Canada - Housing starts
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