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- Varchev Finance: Trading day in one post – 09.08.2018
Varchev Finance: Trading day in one post - 09.08.2018
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Loading...Asian Stock Market - Although US-China exchange rates continued to take full effect, the Asian stock markets were on the rise. China's export data turned out to be better than expected, at the same time being the first since US $ 34 billion in US $ 34 billion in Chinese goods. As a result of good data (12.2% vs. 10% expected), Shanghai composite jumped 1.82%, and Shenzhen by 2.54%. In Australia ASX200 grew 0.68% while in Japan the Nikkei 225 fell 0.27% and Topix 0.31%.
FX Market - Already at the start of the day, RBNZ has published its decision on the base interest rate as well as its monetary policy report and made the NZD the star during the Asian session. RBNZ left the base interest rate unchanged at 1.75%. In addition, the central bank confirmed its intentions to leave rates low until the end of 2019. We can expect interest rates to rise in the middle of 2020 or beyond. The news has contributed to the NZD decline of a full percentage. With the launch of the European interbank market, I expect the NZD negativity to deepen. Unlike the NZD, AUD has accumulated the positive sentiment generated by good Chinese export data. Today, during the European session, we are expecting the ECB's economic bulletin, which will give a clear picture of the sentiment in the central bank and how members see the economic climate in the bloc. At 15:30, we also look at the data on unemployment claims in the United States that may cause temporary volatility. The GBP also marks a decline, the reason for this being the likelihood of Hard Brexit.
Hard/Soft Brexit, what does it mean, what to expect and who will win?
Commodity Market - WTI is currently traded in the $ 3 range, which is the narrowest range since 2003 based on monthly data. Currently, the market is still weighing down US stocks and potential supply constraints in the Middle East against the escalation of trade tensions between the US and China. Oil traders will most likely continue to focus on a series of bearish factors affecting the market this week, including emerging surplus data and renewed concerns about global demand delays.
European Stock Market - Positive moods that have accumulated during the Asian session will also be transferred during the European session. Futures of European indices indicate a positive start. DAX will start at about 15 points higher at a price of $ 1,621. CAC40 is preparing to start the session at levels of 5499 euros or 7 points higher. UKX will start without change. Today, at 11:00, when the ECB publishes its economic newsletter, we may observe increased volatility in European markets.
US Stock Market - US stock indices ended the session on Wednesday without any major changes after China dared to meet commodity tariffs by introducing new ones into US goods. The Nasdaq finished trade at a slight but higher level on Wednesday and registered its longest winning series since March. At the same time, yields on 10-year bonds dropped by 0.006% to 2.967%, while yield on 30-year government securities declined by 0.003% to 3.116%. Today, during the US session, no news is expected to shake the markets. We remain awaiting information on trade practices between the US and China.
Economic Calendar for European and US trade sessions - 09.08.2018
08:45 Switzerland - Unemployment rate
11:00 Eurozone - ECB Economic Bulletin
15:30 USA - Jobless claims
15:30 USA - PPI
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