Trading day in one post 16.02.2017

16.02.2017 / 08:20

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The Asian markets were trading slightly higher today, following the positive sentiment after WallStreet and the testimony from Janet Yellen.

The Japanese Nikkei fell slightly by -0.55% , Hang Seng was up by 0.36%. The Chinese markets were also up, Shanghai composite by 0.25%, ASX was higher withсе 0.08%, price of the metals were trading higher. US indices DJIA up by 0.52% S&P with 0.50% and Nasdaq was up by 0.64%. DXY was slightly lower at 100.940.

Calendar for the European and US sessions:

08:30 - France - French Unemployment Rate (Q4)
14:30 - Euro zone - ECB Publishes Account of Monetary Policy Meeting
15:30 - USA - Building Permits (Jan)
15:30 - USA - Housing Starts (Jan)
15:30 - USA - Initial Jobless Claims
15:30 - USA - Philadelphia Fed Manufacturing Index (Feb)
15:30 - USA - Philly Fed Employment (Feb)
16:45 - USA - Bloomberg Consumer Confidence
17:30 - USA - Natural Gas Storage
23:30 - NZD - Business NZ PMI (Jan)
23:45 - NZD - Retail Sales (QoQ) (Q4)

USD - The currency fell again today after the second day of the testimony from Yellen. At the moment the chances for higher rates during March meeting are around 50%, but many analyst think that May is more likely that FED would move on rates. We continue to stay long USD

JPY - was stronger during the Asian session against all other currencies, after the Nikkei index fell slightly. Continue to be JPY short and to look for better places for new short positions.

GBP - March is the month for the activation of protocol 50. Possibly investors will reconsider their investments and we expect to see lower GBP again. Continue to be short on the currency.

Varchev Traders

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Trading day in one post 16.02.2017

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