- Home
- >
- Fundamental Analysis
- >
- Trading day in one post 27.03.2017
Trading day in one post 27.03.2017
Rating:
Loading...Japanese benchmark Nikkei 225 dropped more than 1.51 percent and the safe-haven yen strengthened.
Shares of Toshiba tumbled 2.91 percent after local media reports that Toshiba's U.S. subsidiary Westinghouse may file bankruptcy on Tuesday and seek support from Korea Electric Power.
Australia's ASX 200 fell 0.17 percent, weighed by its materials sub-index which fell 1.38 percent.
In South Korea, the Kospi was off 0.46 percent after South Korean prosecutors said they will seek a detention warrant for ousted President Park Geun-hye, who has been accused of taking bribes from big businesses.
The Shanghai composite was nearly flat and the Shenzhen composite was down 0.39 percent.Hong Kong's Hang Seng index was down 0.17 percent.
Dow futures fell 117 points, S&P 500 futures were down 15.3 and Nasdaq futures were 40.7 points lower on Monday at 10:55 am HK/SIN.
U.S. stocks had a choppy trading session last Friday, after media reports that the House pulled a key health care vote that was seen as crucial for President Donald Trump's agenda.
The Dow Jones industrial average was down 0.29 percent to 20,596.72, the S&P 500 slipped 0.08 percent to close at 2,343.98 and the Nasdaq composite added 0.19 percent to 5,828.74.
On the energy front, Brent crude futures slipped 0.12 percent to $50.74 a barrel while U.S. crude dipped 0.29 percent at $47.83. A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months, according to a statement on Sunday.
The dollar was weaker at 99.295 against a basket of currencies at a four-and-a-half month low.
Economic calendar for European and American trade sessions
11:00 Germany - Ifo Business climate
11:00 EU - Private sector loans
15:00 EU - ECB's Praet speaks
USD - The dollar is among the weakest currencies in the market. The delay for AHCA vote and the speculations that this act will never be submitted was highly harmful for the USD. If Trump fails with the Healthcare act, the investors will be reconsider his abilities to fulfill his other promises about the other reforms.
JPY - Yen is blooming in environment of uncertainty and volatility, and right now we are exactly there. Between the upcoming election votes in France and Germany and the problem with AHCA in USA, the investors are more willing to invest in safety instrument and they're choosing risk-off currencies .
EUR - EUR strengthen against it's competitors. The weakening dollar is highly positive for the common currency. We are expecting the next meeting of ECB, where we will see if the life of QE will be shortened.
CAD - The canadian dollar remains weak because of the declining oil prices. The correlation between the two instruments remains strong. As long as we do not see oil prices go up, we remain short on CAD.
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
