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- Trading day in one post 26.06.2017
Trading day in one post 26.06.2017
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Loading...All Asian markets were trading higher today, partly due to the rise of the price of Oil, as it supported the indices. It is possible that this positive sentiment will spill over to the European session as well during the start.
Japanese Nikkei 225 was trading higher by 0.12%, Kospi as well was higher by 0.39%, S&P/ASX 200 was up with 0.13%. Hang Seng jumped by 0.38%, and the Chinese Shanghai Composite went higher as well with 0.60%.
The price of Oil was trading up around $43.54.
The Economic calendar for the European and American sessions for 26.06.2017
11:00 - Germany - German Business Expectations (Jun)
11:00 - Germany - German Ifo Business Climate Index (Jun)
11:30 - UK - BBA Mortgage Approvals
15:30 - USA - Core Durable Goods Orders (MoM) (May)
17:30 - USA - Dallas Fed Mfg Business Index (Jun)
20:30 - Euro Zone - ECB President Draghi Speaks
GBP – Despite that the currency should be under pressure due to the ongoing negotiations for Brexit process and trading rules and regulations with the Eurozone, GBP has been very well supported towards all other currencies. We remain cautious, as we look for clear signals for new developments of the countries economy.
CAD – The Canadian dollar was trading higher, partly due to the higher price of Oil and due to the better than expected economic data released on Friday last week. The better performing US economy and the positive effect from it will spill over to the Canadian economy and that will be good for the currency. We remain bullish and we will look for a correction for long positions.
EUR - Is attempting to go higher again, it is possible that the brief fall was just a correction and we expect to rise again. Probabilities are that the move will not be quick and very long but rather slow and it will take time but the direction is clearly higher.
Indices - Stocks and indices continue to be supported by the investors, who do not pay any attention to the FED and the rising rates, as if the market participants doubt that FED will continue to increase them. Although the indices are at previous highs again for S&P and DJIA, as for NASDAQ it erased half of all its loses, during last week fall and it is possible that there might be a correction, that is within the normal operation of the markets. There are no signs of deep correction or panic in the market place. The levels now are not good for new long positions, that is why a correction must be awaited before we can look for new long entries again.
Trader - S. Fuchedzhiev
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