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- Trading day in one post 16.03.2017
Trading day in one post 16.03.2017
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Loading...The Japanese benchmark, Nikkei 225, fell 0.13 percent as the yen strengthened against the weaker dollar.
The Bank of Japan held monetary policy steady and maintained a positive view on the economy, signalling that no expansion of monetary stimulus was due in the near future, Reuters reported.
China's Shanghai composite shot up 0.6 percent and the Shenzhen composite rose 0.6 percent.
Down Under, the ASX 200 slipped to trade down 0.03 percent.Australia's unemployment rate in February rose to 5.9 percent, higher than the expected 5.7 percent.South Korea's Kospi gained 0.6 percent.Hong Kong's Hang Seng added 1.18 percent.
The Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 0.75 percent to 1 percent in a widely-telegraphed move. The rate hike comes amid growing confidence that the economy is poised for more growth.
The Dow Jones industrial average was up 0.54 percent to finish at 20,950.1, the S&P 500 rose 0.84 percent to close at 2,385.26 and the Nasdaq composite added 0.74 percent to 5,900.05.
During Asian trade, Brent crude futures were up 0.66 percent to $52.15 a barrel, and U.S. crude gained 0.57 percent to $49.14.
Economic calendar for European and American trade sessions
10:30 Switzerland - Interest rate decision
12:00 EU - CPI
14:00 UK - Interest rate decision
14:30 USA - Building permits
14:30 USA - Housing starts
14:30 USA - Initial jobless claims
14:30 USA - Philadelphia FED Manufacturing index
14:30 Canada - Foreign securities purchases
16:00 USA - JOLTS's Job openings
USD - The dollar declined despite the rate hike from FED's side. The reason is Janet Yellen's testimony in which she expressed that it's more likely to have only 3 rate hiker during 2018 ( bad news for the investors and dollar's bulls). Despite that the dollar sentiment remains strong and we will seek good prices for long on USD.
EUR - EUR remains stable. Today we are expecting CPI for the EU area. Higher than expected data is positive for the common currency. Also the election in France are approaching, which means high volatility in eur pairs and possibilities for a fast sharp movements.
JPY - BoJ left the interest rate unchanged at -0.1 %. Furthermore from the bank said that additional QE is highly unlikely this year, which is positive for the JPY.
CAD - The correlation between CAD and OIL is at levels unseen since August. We may expect this correlation to remain. If OIL prices go up, it will be wise to be long on CAD.
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