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- Varchev Finance: Trading day in one post – 18.10.2017
Varchev Finance: Trading day in one post - 18.10.2017
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Loading...Asian trade session: The stock market on Wednesday remained stable as investors in the region turned their attention to the Chinese People's Congress, where they expected to receive information about the future direction of the world's second-largest economy. The Japanese benchmark Nikkei 225 declined by 0.09%, with motor companies being the main driver of the downturn. Kospi started trading with a raise but subsequently lost 0.16% of its value. The main culprit for the downturn was the technology companies in the country. ASX200 climbed 0.23%, with utilities showing the highest growth. Hang Seng declined by 0.05% and Shanghai Composite climbed 0.01%. Shenzhen posted a decline of -0.13%.
Currency market: The dollar index, which represents the strength of the green currency, rose to 93.73, then dropped to 93.46. Compared to the yen, the dollar is traded at around 112.22. Against the backdrop of rising oil, CAD is the strongest currency during the Asian session with a growth of 0.14%, followed by the Australian, which reflects the good prospects of the Chinese economy by 0.08%. The most losing currency remains NZD at -0.16%. GBP and EUR are traded unchanged.
Commodities market: The growing tensions in Iraq and the lower oil reserves in the US led to a rise in the price of oil, with WTI trading 0.42% and Brent 0.71%. Gold is traded with a slight increase of 0.17% due to the stagnation of most indices, which makes investors look for havens or hedging tools like the yellow metal.
US trade session: Dow Jones for the first time reached 23,000, but failed to close above this level. The index halted its rise two points lower at $22,997.44, as bank shares declined. Boeing and Caterpilar were the two most profitable companies in the index. The healthcare sector grew strongly by 3.61% after United Health published strong financial results. The SP500 rose 0.1% to $2559.36 and closed at a historic peak. Goldman Sachs shares fell 2.6% after a bad third-quarter financial report. JP Morgan reached a new historic peak, but then dropped against the backdrop of financial sector negativity. Nasdaq composite grew by 0.1%, the main driver of this growth was Netflix, whose shares jumped 1.6% after better-than-expected sales results.
European Stock Market: European markets are expected to open up, given the positive positivism of the Chinese Communist Party Congress. The German DAX30 is expected to open at around €13017 or 12 points higher. The French CAC40 will start 5 points higher at the price of €5365. The dependence of European economies in China is strong, as much of the goods are exported to that country. We expect positivism to remain throughout the day. The British UK100 will begin trading at 7544 levels or 11 points higher than yesterday.
Economic Calendar for European and US Stock Sessions - 18.10.2017
11:10 Eurozone - Speech by Mario Draghi, President of the ECB
11:30 UK - Average Hourly Wages + Bonuses
14:45 Eurozone - Speech by Peter Praet, Member of the ECB
15:30 United States - Building permits
17:30 US - US Oil Inventories
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