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- Trading day in one post: 16.04.2018 Varchev Finance
Trading day in one post: 16.04.2018 Varchev Finance
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Loading...Asian Stock Market: Asian indices are trading in mixed moods. Japan's Nikkei rose by 0.11% and Kospi declined by 0.12%. The Australian ASX is 0.2% green. China's markets declined. Hang Seng is 0.77% down, Shanghai composite and Shenzhen composite wiped out 0.58% and 0.31% of their value.
FX market: USD remains weak. EUR/USD returned to consolidation after a failed breakthrough of the consolidation support area. For now, the sentiment around the dollar will be driven not by the US central bank, but by the Syrian situation. Another factor that may affect the strength of the dollar is the speculation that Trump wants to sit again at the TPP's negotiating table. The important moment here is that in order for the US to re-enter the pact, it will require the entire treaty to be revised, and this will most likely not be approved by the other members. In the medium term, we remain negative towards USD. Greenback growth is expected to occur in late 2018 and in the first quarter of 2019. Most likely, then, the difference in interest rates between the US and other developed countries will be most noticeable. GBP continues to accumulate points. The British currency resumed its upward momentum and traded above the key 1.42 against the dollar. The Brexit talks are on track, and then they support the currency. The market is currently trading on the May interest rate rise and speculation that it will not be the last year's island currency support. We remain positive towards the pounds. CAD: The Canadian dollar remains among the most highly valued currencies on the market. The high oil price supports the value of the Canadian currency. Against the dollar, CAD has entered a broad mid-term upward trend, but it still remains strong. For now, it is better to wait for support to reach around 1.2370 before taking action.
Commodities market: GOLD failed to break above the horizontal resistance and the price again lost strength. The precious metal was backed by the riot's in Syria, but nevertheless the price did not hold above $1370 per ounce. Gold is currently trading in the middle of its consolidation. It is prudent to wait until the areas of support or resistance are reached and then look for positions. OIL: Gold futures indicate a decline during the Asian session. Brent traded with a 1% drop at $71.87 a barrel, and WTI was down 0.9% at $66.80 a barrel.
European stock market: European indices will start the week in a positive direction. The German DAX will open about 50 points around € 12495, French CAC with a 10 point increase around € 5325 and the UKX with a 10 point increase around £ 7268.
US Stock Market: US stock index futures opened the week with gains, which subsequently returned. This tells us that uncertainty still dominates the market. Syria's riots, Trump's trade war with China, the ban on several Russian companies in the United States, are all reasons for investors to choose hedging instruments. We expect the index decline to continue until there is more clarity about the global situation.
Economic calendar for the European and American trade sessions 16.04.2018
10:15 Switzerland - PPI
15:30 USA - Retail sales
17:00 USA - Business inventories
20:15 USA - FOMC member Bostic speech
23:00 USA - Net long-term TIC flows
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