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- Varchev Finance: Trading day in one post 25.10.2017
Varchev Finance: Trading day in one post 25.10.2017
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Loading...Asian Exchange Market: Japan's Nikkei climbed 0.17%. The Benchmark of Japan registers 16 consecutive sessions of price increase and is about to record the 17th. This is the longest series of icreases for the index. Korean Kospi remained with a slight change - a decline of 0.01%. The Australian ASX rose 0.16% after Australia's CPI data was below expectations, which sank the Australian dollar. AUD fell to its lowest value since July. Chinese indices traded with mixed moods. Shanghai composite dropped 0.03%, Shenzhen composite climbed 0.212% and Hang Seng added 0.5% to its value.
Currency market: USD remained unchanged during the Asian session. The currency is traded below the key level of 1.18, which gives hope to the bears that, with good US data, the currency will increase value. The Fed's expectations to raise interest rates in December rose to over 90%. The moods around the US dollar move to positive. CAD: Today we are looking forward to the decision on the interest rate in Canada. Analysts' expectations are that there will be no increase. Market participants estimate the probability of an 18% interest rate increase. AUD: After disappointing CPI data, the Australian dollar is knocked down and fell significantly against its major competitors. At the moment, AUD is traded at the lowest levels of 12.07 against the dollar. We are currently short toward AUD. EUR: Due to the disappointment of the Catalan crisis, investors seem to avoid EUR. Uncertainty in Europe once again shadowed the common currency. Another factor is the uncertainty about when Mario Draghi will reduce QE and with how much. For the time being, let's wait for more light to fall on the problems facing the ECB to determine the direction of the EUR.
Commodities market: Oil futures indicate that black gold was trading in mixed moods during Asian trade. Brent oil rose 0.09% to 58.38 dollars a barrel and WTI fell by 0.08% to 52.43 dollars a barrel. Today we expect data on US oil inventories. The news will have a high impact and volatility on the OIL's price, as higher data than expected will be considered negative for oil. GOLD: Gold resumed its decline by re-directing to test support, which was last touched on 06.10 at $ 1260. Catalan riots keep the price of gold relatively high, but rising US inflation and appreciation of the dollar lower the precious metal's price.
European stock market: We expect European stock benchmarks to commence trading on Wednesday negatively. DAX will open about 20 points down, the French CAC with 8 points down and UKX with 12 points down. The market is at the height of the fiscal reporting season. Investors carefully monitor each index movement and are ready to see both a quick spike and a quick dip (which can be used for new purchases).
US Stock Market: US indices ended the session on Tuesday with an increase. The DJIA gained 168 points and reached a new high after the positive reports of Caterpillar and 3M. S&P rose 0.2% and Nasdaq 0.2%. Everything is revolving around the fiscal statements at the moment and whether companies can justify these high ratings.
Economic calendar for the European and American trade session 25.10.2017
9:00 Switzerland - Consumption indicator
11:00 Switzerland - ZEW expectations
11:00 Germany - Ifo Business climate index
11:30 UK - GDP
14:00 USA - Mortgage market index
15:30 USA - Durable goods orders
17:00 USA - New home sales
17:00 Canada - Interest rate decision
17:30 USA - Cruder oil inventories
18:45 Canada - GoV Poloz speaks
US Equity Upgrades
ADOBE (ADBE) UPGRADED TO HOLD FROM SELL AT PIVOTAL RESEARCH
ANGI HOMESERVICES (ANGI) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT WELLS FARGO
AQUA AMERICA (WTR) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT WELLS FARGO
GRAINGER (GWW) UPGRADED TO NEUTRAL FROM UNDERWEIGHT AT ATLANTIC EQUITIES
HALCON RESOURCES (HK) UPGRADED TO BUY FROM ACCUMULATE AT JOHNSON RICE
MERCER (MERC) UPGRADED TO OUTPERFORM FROM SECTOR PERFORM AT RBC CAPITAL
US Equity Downgrades
ALLERGAN (AGN) DOWNGRADED TO NEUTRAL FROM BUY AT MIZUHO
ALLETE (ALE) DOWNGRADED TO SECTOR WEIGHT FROM OVERWEIGHT AT KEYBANC
BENCHMARK ELECTRONICS (BHE) DOWNGRADED TO HOLD FROM BUY AT NEEDHAM
ERICSSON (ERIC) DOWNGRADED TO UNDERPERFORM AT COWEN
GRAINGER (GWW) DOWNGRADED TO SELL FROM NEUTRAL AT UBS
HAIN CELESTIAL (HAIN) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT BMO CAPITAL
KB HOME (KBH) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT WEDBUSH
MAA (MAA) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT JMP SECURITIES
MAZOR ROBOTICS (MZOR) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS
NIKE (NKE) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS
PRIMERICA (PRI) DOWNGRADED TO HOLD FROM BUY AT SUNTRUST
SONIC AUTOMOTIVE (SAH) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT BOFA/MERRILL
SPRINT (S) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT MACQUARIE
SUPERVALU (SVU) DOWNGRADED TO NEUTRAL FROM BUY AT NORTHCOAST
US Equity Initiations
BAKER HUGHES (BHGE) INITIATED WITH A NEUTRAL AT UBS
DIAMOND OFFSHORE (DO) INITIATED WITH A HOLD AT HSBC
EIGER BIOPHARMACEUTICALS (EIGR) INITIATED WITH A BUY AT ROTH CAPITAL
ENSCO (ESV) INITIATED WITH A BUY AT HSBC
EVOKE PHARMA (EVOK) REINSTATED WITH A BUY AT FBR CAPITAL
JAZZ PHARMACEUTICALS (JAZZ) INITIATED WITH A BUY AT FBR CAPITAL
NOBLE CORP. (NE) INITIATED WITH A BUY AT HSBC
NORTHERN DYNASTY (NAK) INITIATED WITH A BUY AT H.C. WAINWRIGHT
REDFIN (RDFN) INITIATED WITH AN OUTPERFORM AT WILLIAM BLAIR
RLJ LODGING TRUST (RLJ) INITIATED WITH A HOLD AT SUNTRUST
ROWAN COMPANIES (RDC) INITIATED WITH A BUY AT HSBC
SHIRE (SHPG) INITIATED WITH A BUY AT FBR CAPITAL
SUPERNUS (SUPN) INITIATED WITH A BUY AT FBR CAPITAL
TERRAFORM POWER (TERP) REINSTATED WITH A NEUTRAL AT JPMORGAN
TRANSOCEAN (RIG) INITIATED WITH A HOLD AT HSBC
WAYFAIR (W) INITIATED WITH A BUY AT MKM PARTNERS
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