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- Trading day in one post 19.05.2017
Trading day in one post 19.05.2017
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Loading...Asian markets traded lower, but closed higher or almost without changes, following the positive sentiment from Wall Street. Investors remained positive regarding Trump's administration and the confidence in the president grew back.
Japanese Nikkei was up 0.21%, there are fresh indications, that BoJ are buying ETF. Aussie's ASX inched lower with -0.15%, Shanghai composite lowered with -0.05, Kospi was up with 0.20%
US indices closed in positive territory after the biggest decline for the year. DJIA gained 0.27% (56.09 points), S&P 0.37%, Nasdaq 0.73%.
The US Dollar Index, measuring the strength of the currency fell to $97.74. Oil's price reached $49.50, and the Gold was higher during the US session, reaching $1,250 per ounce.
Economic Calendar for the European and American trading sessions
09:00 Germany - PPI
11:00 Europe - Current Account
12:00 Europe - ECB's Praet Speaks
13:00 UK - CBI Industrial Trends Orders
15:00 Europe - ECB's Constancio Speaks
15:30 Canada - CPI
15:30 Canada - Retail Sales
16:15 USA - FOMC Member Bullard Speaks
17:00 Europe - Consumer Confidence
17:30 USA - ECRI Weekly Index
20:00 USA - US Baker Hughes Oil Rig Count
USD - The green back took some serious hits in the last couple of days, but the confidence towards Trump grew back. USD stabilized and stopped its decline, however we will wait for a more clear signal to go long. Some analysts think, that the currency can fell even lower before finding investors support. Traders believe, that Fed will continue hiking the rates and will ignore the turmoil in Washington.
EUR - The common currency remains one of the strongest on the markets, as we expect ECB to exit its QE program during its next session, next month. At the moment, traders are playing on the expectations, that might not get through. If the indices start to make correction, this will support the Euro.
CAD - The Loonie continues to grow amid the rising prices of the oil at least for now, however its strength is limited as the USD remains weak. There are no clear indicators for trading.
Indices - US indices rebounded and closed in positive territory. It seems that investors are starting to believe, that Trump's administration will follow up on its promises for economic reforms. The weaker USD and stronger Oil support the stocks. There chances, that a correction has started, but we have to wait for clearer signals before making short positions.
Senan Fuchedzhiev - Trader
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