Trading day in one post 20.02.2017

20.02.2017 / 08:10

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Asian markets traded mostly higher on Monday, as investors await further details from President Donald Trump on his economic policies, including tax reforms.

Nikkei 225 index was nearly flat at 19,241.16 and ASX 200 goes down by 0.28 percent. Kospi index also traded nearly flat at 2,081.62, the Shanghai composite gained 0.79 percent, while the Shenzhen composite was up 0.33 percent.

"President Trump promised a 'phenomenal' tax announcement in 2-3 weeks which have a positive impact on indexes and push them higher.

09:00 Germany - PPI

13:00 UK - CBI Industrial Trends Orders

15:30 Canada - Wholesale Sales

17:00 Europe - Consumer Confidence

USA and Canada - Holidays

USD - The dollar found support after the ceremony of Yellen last week which raised expectations of market analysts for the recent increase in interest rates. Today US markets are closed and may have possible pressure on the dollar.

AUD - The rally in stocks caused by the promises of President Trump for new tax reform has a positive impact on risk appetite. We remain long on the Australian dollar.

GBP - Sterling gaining at the start of the week but this trend will not persist long as Boe has no intention to raise interest rates and bank stands behind the weak pound in order to lead to an increase the exports. The correction in Britain will give us good places to entry short on GBP.

GOLD: Gold reached resistance levels. Uncertainty about when exactly we will see an increase in US interest rates has a negative impact on the precious metal. The commodity can not break the resistance of 1240 and it seems that attempts to generate a double top which will push the price down. Possible new bearish positions on Gold.

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Trading day in one post 20.02.2017

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