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- Varchev Finance: Trading day in one post – 05.06.2018
Varchev Finance: Trading day in one post - 05.06.2018
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Loading...Asian Stock Market - Asian stocks traded with mixed moods, Japanese Nikkei sticking to the winning series by 0.09% and Korean Kospi wiped out 0.14% of its value. ASX200 lost positions after a drop in the price of mining and oil companies. The index wiped out 0.36% of its value. China's markets grew green, with Hang Seng gaining 0.16% and Shanghai composite by 0.23%.
FX Market - Currently, the FX market remains low volatile despite the RBA's decision on interest rates in Australia and the subsequent Monetary Policy Report. Originally, AUD has dropped, and now all tribute has returned. EUR managed to hold well despite the negative news of last week, but the sell-by-raise attitude will continue to dominate the markets in the short run. After the interest rate on RBA, we watched a short-term impulse with CHF and JPY, which everybody was reluctant to say that at least RBA would not create problems in the markets. However, this may be short-term as we have too many factors that can open the pandora's box and watch massive purchases of CHF and JPY. As for the US dollar, statistics show that June is a daunting month for the greenback. Over the past 10 years, the Bloomberg Dollar Spot Index has been down 8 times with an average change of -0.1%. The current location of the Dollar index also signals problems this month. The index is on a level of horizontal resistance, with pure Price Action in favor of the bears - a bearish bar last week. Additionally, the May increase significantly outpaced the average of the mid-term index, which means that we can expect a correction at least to keep the price at the current level as soon as possible.
Commodity Market - Petrol fell to its lowest level for more than a month, closing its 50-day period. West Texas Intermediate Crude to close below the key technical level is generally considered a bearish price signal. The price is currently breaking down on the main upward trend, as well as the major horizon formed by the previous two tips. The support zone, now the resistance is complemented by 23.6% Fibonacci correction of the main trend. Price Action - three black crows formed in a key price zone and fundamentally backed - a high probability of a further drop. The Sequential indicators count 7 out of 13 possible, the downward impulse is still in effect. DeMarker is in the over-sales area, but has not yet signaled a turnaround. I expect the downward impulse to keep and reach levels around $ 61.00, even with slight upward adjustments. Input from the current levels will be risky and for this reason it is good to wait for the resistance zone test and then position it with the short. Regarding gold, the lack of foundation found the precious metal at levels around $ 1300 per ounce.
European stock market - Markets in Europe will launch a declining session reflecting the mixed sentiment in Asia and the vague consequences of the trade war in which Donald Trump introduced the whole of Europe. The lack of serious economic news casts the eyes of all investors on the trade war, as well as political uncertainty in Italy. There is still hope in the face of the G7 summit at the end of the week, but it is obvious that Europe will be hit by tariffs that will cost TNCs (trans-national corporations) a lot, and thousands of jobs are threatened.
US stock market - US markets ended trading on the first day of the week with rises, and the Nasdaq technology index even hit a new high. The benchmark rose 0.7 percent after Apple and Amazon rose 0.8 percent and 1.5 percent to record record-breaking levels. Microsoft also supported the technology index after rising 0.9 percent, announcing it acquired the software developer platform GitHub for $ 7.5 billion. Other record-breaking technology names include Adobe, Electronic Arts and Netflix. The Dow finished 178 points up, and the main S & P 500 recorded a 0.5% growth due to the excellent performance of technology companies.
The economic news that will move the markets today - 05.06.2018
11:30 UK - Services PMI
12:00 Eurozone - Retail Sales
16:45 USA - Services PMI
23:30 US - API Crude Oil Inventories
Trader Petar Milanov Read more:
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