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- Varchev Finance: Trading day in one post – 08.02.2018
Varchev Finance: Trading day in one post - 08.02.2018
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Loading...Asian Exchange Market - Most Asian indices rose after weak Wall Street growth. Tokyo Nikkei rose 0.74% after the car and financial companies managed to cover much of the losses accumulated in recent days. Technological companies in Japan have been trading with mixed moods after the strong sale of some of the big names on Wall Street. Unlike Japan, in Korea, the technology sector led to profits, and this helped Kospi rise by 0.49%. In Sydney, ASX registered a decline of 0.09% thanks to the energy companies in the country. Hang Seng rose 0.92% after the financial sector headed by HSBC rose significantly. China's bank rose 0.94 percent, and Tencent, which rose 1.74 percent, helped boost the entire technology sector. In mainland China, shares were traded mixed, with Shanghai down 0.75%, while Shenzhen made the same change but in the upward direction.
FX Market - During the Asian NZD session, the Reserve Bank of New Zealand announced that it kept monetary policy unchanged but lowered its inflation expectations for 2018. The forecast for inflation in 2018 is to bring it down to 1.3%, and in 2019. to start rising, reaching about 3% in 2020. NZD noted the bank's decision negative, down 0.60%. Given the neutral position of RBNZ and Hawkish's moods in the Fed, we expect NZD / USD to reflect the strongest interest rate differentials between the two banks. USD managed to register an increase against most currencies after Senate Majority Leader Mitch McConnell presented a bilateral state budget agreement that would provide nearly $ 300bn. more about defense and other government spending. Investors consider this a really big step towards preventing the government from stopping and ending the stalemate in disputing the country's priorities The McConnell plan will remove the current debt ceiling and provide disaster relief assistance. Despite the agreement reached between German Chancellor Angela Merkel and German Social Democrat leader Martin Schultz, the EUR saw a decline at the end of the US Session, but only against the dollar. During the Asian session, the combined currency rose by 0.06%. Against the backdrop of rising stock markets, JPY posted a decline of 0.30%, as much of it unloaded hedging positions in the currency. The GBP marks a slight increase of 0.18%, but remains relatively calm before the Bank of England's decision on the key interest rate, today at 14:00.
Commodity market - Crude oil was again in focus, accounting for its biggest loss in the past two months, after the high US mining hit a new peak, fully covering OPEC +'s efforts to balance the oil market. Light crude oil futures are trading at a 3.06% decline, as it has now become clear that US drilling has jumped to 10.25m barrels a day. Gold marks a decline after the risk appetite in the market is returning, albeit timidly. Precious metal is traded 0.70% cheaper. Unlike the hedge metal, industrial metals are trading on an upward trend, with Cooper running at 0.58%.
European stock market - After a deeper correction that was triggered by Wall Street, the European indexes will start lower, reflecting investor concerns. The DAX30 is expected to launch the European session at € 12517 or 15 points downward. The French benchmark CAC40 is about to open 5 points lower at around € 5223. The FTSE100 is again showing character, not reflecting strongly the changes on both Wall Street and Asia. The British benchmark will start trading at 7235 pounds, no change compared to the closing price yesterday. Today, during the European session, we expect a number of top economies data in the region, with investors heading their attention to Britain and Bank of England's key interest rate decision. 30 minutes later, at 14:30, Mark Carney will hold a press conference from which investors will expect details of the bank's plans. No changes are expected, but high volatility in GBP and UKX is not excluded.
US Stock Exchange Market - US indices ended the session on red territory, recording a strong volatility on Wednesday. The S&P500 declined by 0.5% after it enjoyed a 1.2% growth before the end of the stock exchange session. This is the biggest rollover of its performance since February 2016. The Dow Jones Industrial Average Index closed the session 19 points down, with the biggest change in performance since August 2015. The index grew by 381 points during the but then dropped by 127. Shares began to lose momentum in the afternoon shortly after rising yields on 10-year government securities and the presentation of Mitch McConnell's bilateral agreement that would end one-month disputes over financial priorities. country. This sent the dollar to new heights, but it strongly depressed the indices.
Economic Calendar for European and US Stock Sessions: 08.02.2018
09:00 Germany - Trade Balance
10:45 Germany - Speech by the President of the Deutsche Bundesbank, Jens Weidmann
11:00 Australia - Speech by Philip Lowe, Governor of RBA
11:00 Eurozone - Economic Bulletin
11:50 USA - Speech by Robert Kaplan, Fed Governor for Dallas
14:00 United Kingdom - Basic Interest Rate
14:30 UK - Speech by Mark Carney, Governor of the Bank of England
15:15 Canada - Housing Starts
15:30 USA - Jobless claims
16:00 USA - Speech by Neel Kashkari, FED member
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