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- Trading day in one post 29.05.2017
Trading day in one post 29.05.2017
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Loading...Asian markets traded without any significant price changes during the first week day.
Japanese Nikkei rose by 0.02% while Kospi gained 0.49%. Australian ASX declined by 0.02%.
Markets in China were closed today due to national holiday.
North Korea run off its 9th ballistic missile test that landed near Japan. The Prime Minister of Japan announced that immediate action will be taken against the apparent provocations by North Korea.
Oil futures rose slightly during the Asian session. Brent oil is 0.08% higher at $52.19/barrel while WTI gained 0.02% at $49.81/barrel.
The U.S. dollar index remained stable after the series of negative sessions and it was around 97.50.
Economic calendar for European trading session 05/29/2017
10:15 Switzerland - Employment rate
11:0 EU - Private sector loans
16:00 EU - ECB Gov. Mario Draghi speaks
The markets in USA and UK will remain closed for the day
USD - The U.S. dollar is still among the weaker currencies today. Failure to meet Trump's promises of tax reform is strongly negative for the greenback. Another factor is the speculation that the Fed may not raise the interest rates 2 more times by the end of 2017. For now we remain negative to USD.
GBP - British pound dropped from the highs where it was 2 weeks ago. The latest researches show that the result of the upcoming referendum in UK will not be certain as some investor hoped. A poll showed the Conservative Party’s lead over the main opposition Labour Party narrowed to just five percentage points. We would probably see one more Flash-crash? If there is a surprise on the election and Theresa May loses then investors will surely change their moods into negative to GBP.
CAD - Canadian dollar started to rise after the oil price jumped above $45/barrel. The correlation between the 2 instruments is strong. As long as the black gold price is rising, we remain positive to CAD.
EUR - The common currency is among the best performing on the market. Speculations to reduce or terminate QE is positive for the euro. Today we are expecting a statement by ECB President Mario Draghi. During that statement we will be watching for guidelines on whether there will be a change in QE. For the moment we are positive to the EUR.
Trader Bozhidar Arabadzhiev
Varchev Traders Read more:
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