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- Trading day in one post 15.9.2017
Trading day in one post 15.9.2017
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Loading...Asian trade session: Trading during the Asian session was mixed, as at the beginning of the session we witnessed North Korea's missile fire. The Nikkei 225 rose by 0.50% while the dollar retreated against the yen. Korean Kospi wiped out 0.19%, ASX 200 declined 0.63%, and Hang Seng rose 0.30%. Shanghai Composite posted a decline of 0.32%.
Forex: During the Asian session, the Japanese yen was one of the most traded instruments after North Korea launched a new intercontinental missile. Initially, the yen rose strongly, but is currently trading at -0.16% down. After a few days of GBP gains, it is traded unchanged, but the positivism behind it remains, as the likelihood of BoE running earlier increases. Today we expect euro area data on the trade balance and US retail sales. During the news we will see increased volatility, not excluding strong movements in either direction.
Commodities market: GOLD: Gold is on the rise as concerns over North Korea are rising. Yesterday Pyongyang announced that it would remove Japan from the map, and later North Korea launched a new ballistic missile. Petroleum is booming as OPEC changes its consumption forecast by the end of the year, US stocks have fallen to record low levels, and tensions in North Korea and the increasing likelihood of warfare further exacerbate black gold to growth.
European stock market: The European stock market is expected to start with a downgrade against the backdrop of North Korea's ballistic missile test. The German DAX30 is expected to start trading with 5 points lower at 12 541.9 levels, the French CAC40 with a 3 point drop, and UK UK100 with 13 points lower. During the European Stock Exchange session, a lot of details will be released on how the US, Japan and China will respond to the provocation of North Korea. For this reason, we expect investors to be cautious and focus their equity on safe haven instruments, such as gold, Japanese yen, and Swiss francs.
US trade session: US stocks ended mainly with declines in the last session, as inflation data increases the likelihood of the US Federal Reserve tightening its monetary policy faster. Meanwhile, Dow Jones closed at a record high, posting a 0.2 percent growth (45.3 points) to 22,203 points. Shares of United Technologies Corp, Pfizer, Merck and Boeing climbed to 2.6%, 1.9%, 1.75% and 1.36% respectively. SP500 also briefly touched an intraday peak, but ended with a fall of 0.11% to 2,495 points. Nasdaq declined by 0.48% to 6,429 points. In August, US inflation rose to 1.9% on an annual basis, with fuel appreciation and rental spending the most boosted. This strengthens the pressure on the Fed to rethink its monetary policy and to start tightening faster.
Economic calendar for European and American trading sessions:
09:00 Germany - Wholesale price index
12:00 Eurozone - Trade Balance
12:00 Eurozone - Trade balance - seasonally adjusted
15:30 USA - Retail Sales
15:30 US - Retail sales without cars
16:15 USA - Industrial Production
17:00 USA - Business Stocks
17:00 USA - Michigan Consumer Confidence Index - Preliminary
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