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- Trading day in one post 15.05.2017
Trading day in one post 15.05.2017
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Loading...Asian markets trading lower during the first trading day of the week, due to the launch of a new missile from North Korea and the worries regarding the cyber attacks. Investors also focused on the protectionism in USA during the G-7 meeting.
Japanese Nikkei inched lower with -0.16%. Chinese markets traded higher with the likes of Shanghai composite gaining 0.28%, Hans Seng added 0.52% and Kospi edged higher with 0.19%.
Oil's futures grew during the Asian hours, reaching $48.83 per barrel. This is the highest level for the past couple of weeks, as there was an agreement for extending the oil-outputs cuts by the energy ministers of Saudi Arabia and Russia.
US indices closed lower on Friday, except Nasdaq, which climbed to record levels.
The US Dollar Spot Index is at 99.190.
Economic calendar for the European and US trading sessions:
09:00 Japan - Machine tools orders
10:15 Switzerland - PPI
14:45 Europe - ECB's Praet Speaks
15:30 USA - NY Empire State Manufacturing Index
17:00 USA - NAHB Housing Market Index
USD - The greenback weakened against all currencies, as the US indices futures climbed during the night. Oil was higher, as well as Gold. It is clear that the USD is looking for a direction, but is still trading in narrow range. The sentiment remains positive.
GBP - Last Friday the sterling made a correction and it is possible to see new rise this week. The lack of negative data and the weaker dollar gives excellent opportunity for growth in the GBP in the short-term.
CAD - The CAD pared some of its losses with the gains from the Oil. The Central Bank left the interest rates unchanged, due to the concerns regarding its growth and after the US showed interest in the protectionism towards its inner market and the troubles in the housing market.
JPY - The safe haven currency rose in the early hours of the Asian session, however it didn't last long. Investors started buying risk oriented instruments, nevertheless the new incident with North Korea. The monetary policy remains accommodative and this will continue. We remain short on the currency.
Senan Fuchedzhiev - Trader
Varchev Traders Read more:
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