Trading day in one post 16.01.2017

16.01.2017 / 08:43

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The markets in Asia were trading mostly lower today, regardless of the positive open at the start. Worst than expected data from Japan put negative pressure on the Nikkei.

The Shanghai Composite was lower by -1.28%, Shenzhen Composite fell with -2.14%, Kospi lost -0.76%, Nikkei 225 lost -0.82%. Only the Australian ASX 200 held up and won 0.48%, а Hang Seng was down with -1.04%.

The price of Oil was traded down during the Asian session around $ 52,48 per barrel and that was negative for the indices.

Economic Calendar for the day

12:00 - Euro zone - Trade balance

20:30 - UK - BoE Gov Carney Speaks

23:00 - NZD - NZIER Business Confidence

American Markets will remain closed due to Martin Luther King, Jr. Day.

USD: The USD it seems like it found support but we need to wait and make sure that is the case and wait for a clear signal for long again. The prices of the commodities in general are up and that is causing negative pressure on the USD. There are no data from the US today.

GBP: The sentiment remains negative for the long run and the uncertainty around that when the article 50 will be triggered and the trade agreement with the EU. As the currency markets opened last night the GBP/USD fell with 1%, at the open and trading around 1.203.

CAD: Canadian currency remain supported due to the price of Oil. The strong correction between the commodity and currency is positive for the CAD. We can look for longs after each correction.

JPY: The Japanese currency did get stronger and all pairs with JPY went down due to the worst than expected data for the machine orders. BOJ continue with their rhetoric that they would like a weaker JPY, and that fall is only a correction.

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Trading day in one post 16.01.2017

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