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- Trading day in one post 25.01.2017
Trading day in one post 25.01.2017
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Loading...The Asian indices were trading higher today. The uncertainty at the moment has settled among investors due to the first day in Office of the New President and his promise to break away from the trading agreement TPP. The US markets closed higher previous day.
Nikkei is trading higher by 1.15%, ASX 200 was up by 0.44%. Shanghai composite was also up with 0.23%, Hang Seng index was higher by 0.17%
Oil Price did not move much trading at around $53.00 per barrel.
Calendar for the European and American sessions:
09:00 - Swiss - Consumption Indicator
11:00 - Germany - German Ifo Business Climate Index (Jan)
12:00 - Swiss - ZEW Expectations
13:00 - UK - CBI Industrial Trends Orders (Jan)
14:00 - USA - MBA 30-Year Mortgage Rate
14:00 - USA - Mortgage Applications
14:00 - USA - Index of Mortgage Market and Refinance Index
15:15 - Germany - German Buba President Weidmann Speaks
16:00 - USA - House Price Index (MoM) (Nov)
17:30 - USA - Crude Oil Inventories
17:30 - Swiss - SNB Chairman Thomas Jordan speaks
18:00 - UK - BoE Gov Carney Speaks
23:45 - NZD - CPI
USD - The dollar continue to search for support but it remains weak. There is no indication yet from any of the pairs that the USD is ready to resume its up move, only GOLD price did stop its march higher and stalled. If the Trump starts to make good on his promises then we might see swift turn around of the USD price and should become stronger.
CAD - The looney remains relatively strong not only supported by the Oil price but also from the general strength of the USD. The Canadian Economy is dependent of the US Economy. We continue to be long the CAD.
JPY - The Japanese currency was very strong during the Asian session, after the better than expected data from the trade balance. Possibly this strength will not last and we may see more upside of all JPY pairs as they will follow the indices higher.
EUR - The common currency was trading in tight range. We do expect important data today and if the news are better than expected this might support the Euro. We do remain bearish for the currency due to fundamental factors.
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