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- Trading day in one post 19.06.2017
Trading day in one post 19.06.2017
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Loading...The Asian indices were trading higher today with the Japanese Nikkei rose by 0.62%, Chinese Shanghai Composite rose by 0.66%, HK rose by 0.92%, and ASX added 0.39%.
Asian technology stocks recover after their worst week for the year.
In London, there was an accident where a van hit a group of 10 people on a pedestrian walkway. Ambulances arrived at the site as there were injured. There is one arrested. According to the police, the incident was significant, but the markets did not reflect it.
The yen was declining due to the negative economic data from Japan.
The economic calendar of the day is pretty poor:
15:00 USA - FOMC Member Dudley Speaks
18:00 Germany - German Buba President Weidmann Speaks
EUR - The euro remains among the strongest currencies, as Macron won the majority in parliamentary elections and its policies support the euro. In addition, leveraged hedge funds have added long positions to the euro, expecting it to reach its peak against the dollar before the US presidential election.
JPY - The yen weakened during the Asian trade session due to worse data on the country's trade balance as well as lower exports. The Bank of Japan left the interest rates unchanged, which also negatively affected the Japanese currency. We remain short of the yen and long of EUR/JPY, USD/JPY.
NZD - Positive economic data from New Zealand (consumer confidence and services PMI) positively affected the New Zealand dollar. The long positions on NZD/USD remain in force.
CL - Crude oil has begun to decline after the opening of the Asian markets, then recovered its losses and traded around the opening levels. Oil prices have fallen sharply in the last four weeks and this trend is expected to remain. The reasons are mainly because of the large US yields and inventories, which is failing OPEC's attempts to curb global production. Hedge funds are increasing their short positions and this increase is the highest in the last 5 weeks. We continue to be short on oil.
Jr Trader Ivan Ivanov
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