- Home
- >
- Fundamental Analysis
- >
- Varchev Finance: trading day in one post – 05.12.2017
Varchev Finance: trading day in one post - 05.12.2017
Rating:
Loading...Asian Stock Market - Asian markets were traded mixed after the Australian CB met its promises and kept the base interest rate unchanged at 1.50%. ASX200 traded only with 0.15% increase as the heaviest weighted sub-index fell by -0.43%. The Nikkei 225 managed to recover some of the accumulated losses during the stock exchange session. Kospi managed to add 0.29%, completely refusing to accept threats from North Korea. Hang Seng declined by 0.30% and Shanghai composite was trading unchanged, but Shenzhen posted the strongest decline of 0.74%.
FOREX - RBA kept interest rates unchanged, this move was largely in line with expectations. The news did not have a big impact on the Australian, but the better data on retail sales in the country and the stronger Caixin PMI in China shot AUD and is currently trading 0.68%. Given the good economic data coming from Australia and China and rising appetite risk, we expect the Australian growth to be maintained, with any adjustment we would use for Long. JPY is traded for another day with a fall on the backdrop of rising stock markets and until we see a bigger barrier to the stock market, we do not expect a strong JPY. EUR and GBP remain static, mainly due to the Brexit negotiations and investor prudence.
Commodity Market - WTI traded without any major change since yesterday's decline amid rising shale deposits and rising US oil exports. Gold remains under pressure given the strong upward momentum of the stock market. As the stock market continues to rise, we expect gold to remain under pressure.
European stock market - European markets are expected to follow US and Asian promotions. The German DAX30 will start trading 20 points higher at 13,050. The French benchmark CAC40 will open at 5381 or 6 points higher. Britain's UKX will start with the highest growth of 27 points, reflecting the improving negotiations for Brexit. Today, during the European session, we are expecting eurozone retail sales figures, with better data supporting indexes and the euro. Earlier yesterday, it became clear that there would be no boundary between Ireland and England, making it possible to continue the negotiations. The only obstacle to a trade deal is the issue of civil rights after separation. During the day, we expect details of the island, with any progress in the talks posing positive for both GBP and FTSE100.
US Stock Market - Leading indices ended in a mixed move. With growth and a new record of its value, Dow Jones finished, with investors looking forward to good news on changes in the US tax system. The S & P 500 and Nasdaq, however, wiped out some of their value in the first session of the week. The Republicans managed to push the need for changes in the tax system during Senate voting in the early hours of December 2. The proposal has yet to be worked on, but the expectation is that the change will be a reality by the end of the year. This led to Wall Street revival, and the blue chip index initially recorded a growth of more than 300 points. By the end of trading, however, moods changed and Dow Jones finished with nearly 60 points, or 0.24% to 24,290.05 points. Boeing and Walt Disney have boosted the index.
Economic Calendar for European and US trade sessions:
10:50 France - Services PMI
10:55 Germany - Services PMI
11:00 EU - Services PMI
11:30 UK - Services PMI
12:00 Eurozone - Retail Sales
15:30 US - Trade Balance
15:30 Canada - Trade Balance
16:45 USA - Services PMI
17:00 USA - ISM non-production PMI
23:35 US - API Oil Inventories
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
