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- Varchev Finance: Trading day in one post – 09.01.2018
Varchev Finance: Trading day in one post - 09.01.2018
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Loading...Asian Stock Markets - As expected Asian markets maintaining profits after Wall Street slow but profitable session. As we forecasted, the technology sector in Asia has recorded the highest profits, and investors continue to closely follow North and South Korea negotiations. The Japanese Nikkei 225 rose 0.42%, but after the BoJ decision to cut the bond purchase program, the index fell slightly. In South Korea, Kospi rose by 0.17% reflecting North Korea's talks. In Australia, ASX 200 grew by 0.18% from mining companies such as Rio Tinto and BHP, which rose by 1.48% and 1.28%. Markets in China also traded with promotions, with Hang Seng accumulating 0.17% and Shanghai composite 0.07%.
Forex Market - During the Asian session, JPY was in the forefront of investors, as Bank Of Japan cuts the purchase of government bonds. The central bank has decided that purchases of 10 to 25-year bonds amount to 190 billion yen, compared with 200 billion. yen before. Investments in bonds maturing over 25 years will amount to 80 billion yen a month, compared with 90 billion yen previously. As a result of the decision, the JPY rose 0.49% against the USD, and this is not a long-term solution and we can expect a deeper cut in the program for quantitative easing soon. Similar steps will continue to have a positive impact on the yen, not excluding a short-term adjustment to the Nikkei 225. AUD also benefits from much better building permit data: 11.7% vs. -1.3% expected. At the moment, the Australian is trading at a 0.21% increase, with the fund remaining in favor of the currency. EUR is traded without a major change as investors are cautious with the merged currency days before it becomes clear that there will be a new government Germany.
Commodity market - Oil continues to rise, reflecting Iran's political tensions and declining US production. Iran's speeding power struggle raised concerns about the stability of OPEC's third-largest oil producer, and US companies seeking new oil reserves cut the number of research platforms to the lowest level in two months. GOLD remains static at this time, not indicating that investors will resort to profits. The trend remains long, as the price increase is more likely given the low inflation and weak US dollar.
European stock market - Despite Wall Street and Asian rallies, European indexes indicate that they will start a downward session. The German Dax30 is expected to open 17 points lower at 13,353. The French CAC40 will start trading with a 5 point lower mark on the price of 5483, and the British benchmark FTSE100 will open unchanged close to the 7710 closing levels. Today, during the European session, we are expecting data on Germany's industrial production and trade balance. We expect investors to be cautious, given that Germany will decide whether to form a government headed by Angela Merkel.
US Stock Exchange - US stocks hit new records on the first day of the week after investors positively reflected the optimistic sentiment for the US economy. However, the main indices were trading almost unchanged during the session. Dow Jones rose by 8 points and hit a new record high of 25311.99 points within the trade. Dow, however, failed to keep its stature and later changed the direction, ending with a minimum decrease of about 10 points. However, the S&P 500 achieved a new record level of close to 2750 points, albeit with a slight increase of 0.17%. The Nasdaq composite tech index also climbed to a new record of 7160.77 points after a 0.3 percent gain.
Economic calendar for European and US stock exchange sessions - 09.1.2018
08:45 Switzerland - Unemployment rate
09:00 Germany - Industrial production
09:00 Germany - Trade Balance
10:15 Switzerland - Retail Sales
12:00 Eurozone - Unemployment rate
15:15 Canada - Housing Starts
17:00 USA - Speech by Neil Kashkari, Fed member
17:00 USA - New Jobs and Jobs (JOLTS)
23:30 US - API Crude oil Inventories
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