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- Trading day in one post 12.05.2017
Trading day in one post 12.05.2017
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Loading...Markets in Asia were mostly weaker on Friday.
The Nikkei 225 was softer on Friday, easing by 0.63 percent while the Kospi edged down by 0.54 percent.
Australia's benchmark S&P/ASX 200 index fell 1 percent.
Greater Chinese markets were mixed. The Shanghai Composite was up 0.39 percent but the Shenzhen Composite inched down by 0.239 percent. Hong Kong's Hang Seng Index traded 0.07 higher.
Oil prices made gains for a second straight session yesterday, adding more than 1 percent. U.S. West Texas International crude traded higher by 0.19 percent at $47.92 a barrel while Brent crude futures edged up by 0.18 percent at $50.86.
U.S. equities closed lower on Thursday as weak earnings reports Macy's weighed on major U.S. retailers, causing the S&P 500 to decline 0.22 percent or 5.19 points to close at 2,394.44.
The dollar eased against a basket of rival currencies to trade at 99.576, but still off the 98 handle seen last week. Dollar/yen was weaker, with the greenback fetching 113.69 yen.
USD - The dollar is continuing to increase due to market expectations for rate hike on the next FED meeting. For the moment we are positive toward the USD, unless there are some news from ECB about QE or Trump's reforms.
CAD - The canadian dollar returned part of it's losses after OIL reversed its course. For the moment BoC don't have intention for a rate hike and that affect CAD negatively. Before we see more substantial
oil price increase, we remain negative on CAD.
GBP - After yesterday's "Super Thursday" of BoE, Mark Carney said that for a rate hike is too early. Inflation is expected to decrease to 2 % level until the rest of the year. And there are also EU negotiations. All this news and condition are negative for the pound and the currency lost it's momentum.
JPY - Yen remain among the weakest currency at the market. BoJ monetary policy is highly negative for JPY. Although that JPY is being used by investors as a hedging instrument against market and political instability, at a state of calm market JPY losses ground. For the moment we remain negative toward the yen.
Trader Bozhidar Arabadzhiev
Varchev Traders Read more:
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