Trading day in one post 17.04.2017

17.04.2017 / 08:00

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Asian equities were mostly lower in Monday trade.Japan's Nikkei 225 was lower by 0.31 percent but the Kospi climbed 0.37 percent. Hong Kong, Australia and New Zealand markets are closed for Easter Monday.

Chinese markets were mostly lower following the data release. The Shanghai Composite was declined by 0.72 percent while the Shenzhen Composite fell 0.845 percent.

On the energy front, Brent crude was lower by 0.41 percent to trade at $55.66 per barrel and U.S. crude fell by the same amount to trade at $52.96.

In other currency news, the greenback traded weaker against a basket of rivals at 100.39.

Economic calendar for the American trade session

15:30 USA - NY Empire state manufacturing index

23:00 USA - TIC net long-term transactions

Today markets are closed at: Germany, New Zealand, France, Norway, Spain, Switzerland, UK, South Africa, Italy, Hong Kong, Australia

USD - The dollar sentiment is shifting to negative. After Trump's speech that he prefer weaker currency, USD lost it's edge. However, is FED increase rates, we will most likely see USD appreciations.

JPY - Yen is the strongest currency at the market right now. During global and political uncertainty, JPY is being used as a hedging instrument. For the moment we are positive toward JPY. Today we are expecting speech from GoV of BoJ - Haruhiko Kuroda.

CAD - The Canadian dollar remains backed up by oil prices. The correlation between the two instruments remains strong. We are looking for a long position on CAD.

GOLD - Same as the yen, GOLD is being used as a hedging instrument. Furthermore, the metal broker it's main resistance at 1290. Our sentiment toward the GOLD is shifting to positive. If a bar close above the resistance, the positive sentiment toward GOLD is confirmed.

Trader Bozhidar Arabadzhiev

Varchev Traders

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Trading day in one post 17.04.2017

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