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- Varchev Finance: Trading day in one post – 24.10.2017
Varchev Finance: Trading day in one post - 24.10.2017
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Loading...Asian Stock Market: Asian markets are trading slightly after US stocks closed in red, and the dollar posted a three-month high. Japanese Nikkei 225 grew by 0.11%, the main reason for this remains the victory of Shinzo Abe in the local elections. On the Korean Gulf, Kospi climbed 0.11 percent, despite the decline in technology companies. ASX200 grew by 0.14%, with financial and energy stocks collapsing, but the mines increased steadily. In Hong Kong, the Hong Kong index fell 0.22%, while Shanghai composite grew by 0.02% and Shenzhen by 0.199%.
Asia's focus remains the 19th Congress of the Chinese People's Party, with investors waiting for the new presidency, which is expected to be announced on Wednesday.
Currency market: The dollar was stable against a basket of competing currencies, as investors speculate on President Donald Trump's decision to become the next Federal Reserve chairman. NZD is currently the weakest currency, losing 0.30% of its value amid uncertainty in the country. The GBP marks a day to come, reflecting the strong will of both the EU and the UK to reach a free trade agreement after Brexit. EUR is currently trading at an increase of 0.13%, but we remain on the lookout for the Catalan crisis.
Commodities market: Oil was trading calmly with a slight increase during the Asian session. WTI trades with a 0.04% rise in levels around $ 52 per barrel, and Brent with a 0.05% rise in levels of about $ 57.40. The levels remain critical, as a breakthrough over them will increase positivism. Gold rose slightly, reflecting uncertainty over financial reports. In the coming days, gold moves will be dictated by companies' financial statements.
European Stock Market: Asian markets positivism will be shifted to Europe, with the DAX30 expected to open 15 points higher at 13,000, the French CAC40 with 10 points higher at 5386, and the UK UK100 will start trading 8 points higher at 7512. Today, investors will be cautious as a PMI index is expected for both Germany and the Eurozone.
US Stock Market: US indices stepped back from record highs on Monday after General Electric dropped in investor sentiment. The Dow Jones Industrial Average Index fell 54.67 points to 23,273.96 points after General Electric's stock fell 6.3 percent, marking its biggest one-day drop since August 2011. The S & P 500 dropped 0.4 percent to 2564.98 points, with the industrial and telecom sector reporting less well. The Nasdaq composite tech index dropped 0.6 percent to 6,586.83 points after Amazon, Facebook and Alphabet shares fell.
Economic calendar for European and US trade sessions - 24.10.2017
10:30 Germany - Manufacturing PMI
12:00 Eurozone - Manufacturing PMI
12:00 Eurozone - Services PMI
16:45 USA - Manufacturing PMI
16:45 USA - Services PMI
23:30 USA - API Oil Inventories
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