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- Varchev Finance: Trading day in one post 02.04.2018
Varchev Finance: Trading day in one post 02.04.2018
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Loading...The Asian Stock Market: Asian markets are trading with gains, although China has revealed what the additional taxes for US goods. This clearly did not scare investors and the markets are on green. Japan's Nikkei traded at 0.52%. Chinese benchmarks are also in positive territory. Hang Seng rose 0.24%. Shanghai composite and Shenzhen composite added 0.03% and 0.32% to their value. Only Australian ASX has a negative trade - 0.52%.
FX market: The US currency holds its positions. EUR/USD is still traded in its mid-term consolidation, but it is around the bottom of the choppy. Today, with better data from the United States, we can see a break below the key level of 1.22$, which in turn might trigger a downward trend in the pair. Although the FED will most likely raise the interest rate 4 times this year, the USD can not gain momentum. In the medium term, positions against the USD are more appropriate unless the fundamentals of the currency change. GBP: Despite losing its momentum, the pound remains among the strong currencies on the market. The speculations for soft Brexit tilt the investor's interest in a positive direction. Another reason for the strength of the currency is that the central bank will most likely raise the interest rate in May and also leave room for another increase by the end of the year. For now, our moods are positive. JPY: What can we expect from the most controversial currency in the market? On the one hand, the scandal with Shinzo Abe (Japanese Prime Minister) should weaken the JPY, but on the other hand the scandal creates economic instability, which causes investors to resort to safe haven instruments such as the yen. JPY is currently stable on the market and remains strong. Our expectations in the medium term also remain rather positive and we think it is more logical to look for long positions of the Japanese currency.
Commodities market: Gold is enjoying the weak US dollar. Precious metal rose 0.3% during the Asian session and does not seem to lose any momentum. From a technical point of view, however, we are in the middle of consolidation, making any trades unreasonable. It is better to wait until the zone of resistance or support is reached and only then search for sign-in signals. OIL: Oil futures indicate that black gold is trading in a rise during the Asian session. Brent added 0.5% to its value and traded at about $69.67 a barrel, while WTI rose 0.4% and traded at about $65.18 a barrel.
European stock market: Holidays for European markets continue. Today, stock exchanges in Europe will remain closed. Liquidity will remain low and are fast and sharp movements due to the thinness of the market.
American Stock Market: Wall Street will not follow the example of Europe. Today trading in the United States will begin with full force. US futures opened in early trading in Asia and already gained small profits. Now everyone is asking .. will the market succeed in reversing its short-term trend towards a rising one ... is the bloody quarter ended for the indexes, where more than 2 trillions dollars were erased from market capitalization? Technical analysis indicates that upward movement is more likely. The price is above the main diagonal support as well as the SMA 200.
Economic calendar for the European and American trade sessions 02.04.2018
16:30 Canada - Markit manufacturing PMI
16:45 USA - Markit manufacturing PMI
17:00 USA - ISM manufacturing PMI
17:00 USA - Construction spending
The markets in Europe will remain closed today - Catholic Easter
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