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- Trading day in one post 24.05.2017
Trading day in one post 24.05.2017
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Loading...Asian markets are trading in mixed moods after opening into positive territory, but the news that Moody's downgraded China's rating has negatively affected the markets.
The Nikkei 225 climbed 0.56, Kospi slid 0.13%, and the S & P / ASX200 declined by 0.07%. Markets in China are trading down, after news that Moody's downgraded the country to A1 rating. Hang Seng Index declined by 0.11%. Shanghai composite fell 0.36% and Shenzhen composite also dropped 0.85%.
Investors expect to see what are the Fed's moods about rate hike in June.
Oil did not make big moves and was traded at about $ 51.52 a barrel.
The dollar index rose by less than 0.1 percent after it traded 0.3 percent on Tuesday, recovering from its lowest levels since November.
Economic calendar for the European and the American trading sessions 24.05.2017
09:00 - Germany - GfK German Consumer Climate (Jun)
11:30 - Europe - ECB's Praet Speaks
15:45 - Europe - ECB President Draghi Speaks
17:00 - USA - Existing Home Sales
17:00 - Canada - BoC Interest Rate Decision
17:30 - USA - Crude Oil Inventories
USD - The currency rose for a second consecutive session and traded at about 111.81 against the yen. The sentiment of the dollar is still positive as President Donald Trump has reached a deal with Saudi Arabia. Yesterday he submitted a budget proposal for the following year, which also has a good effect on the currency.
AUD - Australian dollar declined by 0.31% after Moody's Investors Service changed the rating of Australia's largest trading partner - China to negative. The worse data from the country about the trade balance also had a negative impact on the currency. AUD dropped to levels around $ 0.7452 a bit after Moody's downgraded its rating for China.
CAD - The Canadian dollar continues to rise, together with oil prices. The correlation between the two instruments is positive for the currency. OPEC is expected to extend the agreement to cut production. On 25.05, we expect the meeting of the organization in Vienna, which will be announced more details about the deal.
Indices: US markets recovered the bulk of their losses. Investors regain their positive attitude towards Trump Trade. The president successfully managed to deflect the negative sentiment of last week when he was involved in a scandal with the former FBI stitch. At the moment, he is on his first international trip, for now the moods are positive.
Junior Trader Stefan Panteleev
Varchev Traders Read more:
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