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- Varchev Finance: Trading day in one post: 02.02.2018
Varchev Finance: Trading day in one post: 02.02.2018
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Loading...Asian Stock Market - Asian shares were pressured on Friday after Wall Street closed mixed, and yields on US bonds rose for a day. Japan's Nikkei 225 was the biggest one-off of 1.3%, with technology companies being the losers. Soft Bank declined by 1.5%, Fanuc Manufacturing lost 1.45%, and Fast Retailing wiped out 2%. Asian airlines also declined, and the most losers in the sector were ANA Holdings, which traded 4.15% down. Nomura Holdings declined 3.58% against a background of weaker-than-expected financial reports. On the Korean peninsula Kospi fell by 1.52%, the main losers, as in Japan were technology companies. Samsung lost 3.49% of its value, SK Hynix 2.55%, and Samsung SDI is 4.8%. Markets in China are trading more stable. Hang Seng dropped 0.05%, Shanghai composite fell 0.51%, and Shenzhen wiped out 0.1% of its value. ASX200 was the only green-colored index rising by 0.25%.
FX Market - USD managed to stabilize during the Asian session, reflecting investor concerns ahead of official data on new jobs and unemployment in the United States. The dollar index continues to trade below 89, mainly due to the strength of the euro. The market is being prepared for NFP data as well as average hourly wages. For data higher than expected, we will probably see a strong upward momentum in the greenback. After strong growth yesterday, the EUR traded down 0.1% to $ 1.2500. The reduced risk appetite in Asia also affected the more risky currencies such as AUD and NZD. The Australian traded down 0.41% and NZD even lower, -0.52%. JPY is down on most currencies after Bank Of Japan decides to raise US $ 40 billion in government bond purchases. yen.
Commodity market - Against the backdrop of sell-offs on the Asian stock markets, gold did not react as we all expected; on the contrary, the precious metal was down, with 0.19% lower today. If Sell Selling in the markets continues today, we expect gold to mark extra gains moving closer to the $ 1400 level. OIL: Gold futures indicate a rise in oil prices during the Asian session. WTI rose 0.44% to $ 66.10 a barrel, and Brent added 0.24% to its value and traded at $ 69.82 a barrel. The OPEC Reduction Mining Agreement aims to raise prices, but on the other hand, the US and Canada are increasing their yields as a result of this price increase, which will ultimately offset the downgrade by OPEC.
European stock market - European markets are preparing to start a downward session, given the mixed sentiment of Wall Street and Sell Off on the Asian markets. DAX30 will start trading at approximately 20 points lower at the price of € 12945. The French benchmark will open with a gap of 10 points lower, at a price of € 5448. The British UK100 will start with the smallest change, -4 points, at a price of 7,485 pounds. Today, during the European session, we expect UK PMI data on construction. The data is indicative of how UK is doing after the Brexit referendum and has a significant impact on GBP and UK100. Traders and investors will then focus on new jobs, average hourly wages and unemployment rates in the United States. After weaker data last month, expectations are currently positive. Better data than expected will support the USD as well as the Fed's plans to raise interest rates 3 to 4 times this year.
US Stock market - The US ended mainly with declines on Thursday, reflecting investor concerns about rising interest rates. S & P500 declined by 0.1%. Nasdaq did not stay behind and dropped by 0.4%. Earlier, the technology index traded 0.4 percent growth after Facebook shares reached a peak. The social network publishes better-than-expected earnings and revenue. Dow Jones closed with an increase of 37.32 points. On Wednesday, the Fed kept interest rates unchanged, but expects inflation to accelerate faster this year. Raising 10-year government bond yields to a near four-year peak has negatively affected the stock market despite strong reports. Return on 10-year bonds rose to 2.79% and yield on 30-year bonds rose to 3% for the first time since May.
Economic Calendar for European and US trade sessions: 02.02.2018
11:30 UK - Construction PMI
12:00 Eurozone - Producer Price Index - PPI
15:30 USA - Average hourly wage
15:30 USA - Non Farm Payrolls
15:30 USA - Unemployment rate
17:00 USA - Michigan Consumer Confidence
20:00 USA - Baker Huges oil rig counts
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