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- Varchev Finance: Trading day in one post – 08.12.2017
Varchev Finance: Trading day in one post - 08.12.2017
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Loading...Asian Stock Market - Asian markets rising after strong US markets growth, which was in result of the tax reform. Markets also mastered the better trade data from China. The Japanese Nikkei was the strongest 1.16% growth after the country's GDP was revised to 2.5% from 1.4%. In continental Asia, Kospi climbed only 0.3 percent after technology companies collapsed, and car manufacturers and industrial companies were marked by a rise. ASX200 climbed 0.26%, the main engine being the energy companies that have accumulated yesterday oil gains. In China, Hang Seng rose 0.87% after the finance, high technology and property sectors rose. Shanghai Composite climbed 0.21% and Shenzhen 0.84%. China's trade balance data has managed to beat forecasts, with China's exports rising by 12.3% compared to the expected 5%. Since China is one of the main markets for European goods, we expect the markets in Europe to reflect the improvement of the Chinese economy positively.
Currency market - During the Asian session, the forex market remained relatively calm, with JPY reflecting declining against the backdrop of China's improving environment and a strong global stock market. GBP has grown in the early hours of the last business day and investors are now likely to see the Brexit Border Deal between the UK and Ireland, a deal that will give a green light to the UK-EU trade talks. At 11:30 today, we expect data on industrial and industrial production along with Britain's trade balance. Forecasts are negative and, given the long-awaited border deal, we expect increased volatility and possible sharp movements in both directions. USD - The dollar is traded without major change, as investors expect new job data in the US later today. We expect the caution of the market to remain, and after 15:30 increased volatility in cross-country USD. EUR - The currency is traded without major change and, as with GBP, investors expect a decision by politicians, but this time in Germany. Yesterday, Martin Schultz gave the green light for negotiations with Merkel's party, and we do not exclude Germany from gaining a new government over the weekend.
Commodities market: Oil prices were stable during the Asian session after yesterday's black gold rose by more than 1%. Estimated after the OPEC transaction, the price did not rise, but even on the contrary, we see a decline, mainly due to the rising US exports. Another positive factor is rising to the price of oil, and this is a possible strike in Nigeria, which is expected to interrupt the work of several major oil fields in the country. GOLD: Gold remains under pressure as investors prefer risky assets given the strong stock market growth.
European Stock Market: Expected after the strong sessions in the US and Asia, as well as better data on the Chinese economy, European markets will start trading with promotions. The biggest gauge in the upward direction will be seen with the German DAX30, which will start 40 points higher at 13135. The French CAC40 will start trading 10 points higher at a price of 5405. UKX will also open green mainly because of the progress of the Brexit talks, and it is not impossible for Britain and Ireland to reach an agreement on the border between the parties after the factual Brexit. Under such circumstances, we expect growth in British stocks.
US stock market - US stock markets picked up on Thursday, with tech stocks recovering some of their value they lost last week. Dow Jones grew by 71 points after adding more than 100 points. The S & P 500 rose by 0.3%. Information technologies were among the best-performing sectors in the S & P 500, gaining 0.6%. The technology, which is also the industry's best performing segment of the year, has been under pressure lately, down 0.9% last week. On Thursday, however, the sector recorded a third consecutive winning session. Nasdaq rose 0.5 percent after Facebook and Amazon shares rose. Resource growers reported growth in the late afternoon session after news that President Donald Trump plans to unveil a plan for infrastructure spending in 2018. Wall Street also watched vigorously and Washington, mainly for clues about tax reform and eventual "closure" of government.
Economic calendar for European and US trade sessions - 08.12.2017
- 09:00 Germany - Trade Balance
- 11:30 UK - Industrial Production
- 11:30 UK - Manufacturing Production
- 11:30 UK - Trade Balance
- 15:00 United Kingdom - NIESR estimated GDP
- 15:15 Canada - Housing starts
- 15:30 USA - Non Farm Payrolls
- 15:30 USA - Average hourly wage
- 15:30 USA - Unemployment Rate
- 17:00 United States - Michigan Consumer sentiments
- 20:00 USA - Baker Huges Oil Rig Count
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