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- Varchev Finance: Trading day in one post – 11.06.2018
Varchev Finance: Trading day in one post - 11.06.2018
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Loading...Asian Stock Market - Markets in the region were trading cautiously, accumulating worries after the G7 meeting, and Donald Trump's long-awaited meeting with Kim Chen UH tomorrow. Nikkei in Japan jumped 0.71%, with profits being seen in the consumer and technology sector. Topix sub-index jumped 1.02%, precisely because of tech companies in the index. In South Korea, Kospi grew by 0.26%, while in China Hang Seng jumped by only 0.06% and Shanghai composite lost 0.69%.
FX Market - Expectly, following the dispute between the US and Canada at the G7 meeting, CAD was the most significant, -0.30%. Contrary to the expectations of Safe Haven currencies, JPY and CHF declined. I expect JPY, CHF and gold to be preferred over the day, given the vague ending of the Trump and Kim Chen Un meeting. Today's economic calendar is relatively empty and we expect news from UK only - 11:30 - Industrial Production and Trade Balance. I expect GBP volatility to rise during the news, and if they are worse than expected, the sterling's depreciation will continue.
Commodity Market - The global oil producers' recent comments on their intention to leave the abatement agreement continue to keep the raw material close to $ 65 a barrel. The Organization of Petroleum Exporting Countries (OPEC) is expected to meet on June 22 at the headquarters in Vienna, along with the non-OPEC Russia, to discuss production policy. There seems to be nothing to get the gold out of lethargy. During the Asian session, the metal barely moved, as the disputes between the US and Canada did not make the traders push the button.
European stock market - European markets will start the session with declines, mainly because of Donald Trump's crimes to Europe to impose additional duties on cars imported from the old continent. I expect the automotive sector to bear the whole stroke, with any small upward correction giving a good opportunity to add to the short positions. The DAX30 will start at about 6 points lower, while the CAC40 with 12 points. On the island, UKX is preparing to open without change, but it can change very quickly during the interbank market from 09:00 to 10:00.
US Stock Market - Wall Street indices rose slightly on Friday as the growing tensions between the US and their key trading partners before the G7 meeting restricted the index growth. The Dow Jones blue chipset added 0.30% to its value to 25316.53 points. Within the index, Procter & Gamble and Walt Disney were best represented with 1.84% and 1.45% respectively. The broader S & P 500 advanced in the upward direction by 0.22% and the Nasdaq technology gained 0.14%. For the week, however, the US indexes managed to grow by more than 1%.
The economic news that the markets will move today - 11.06.2018
11:30 UK - Industrial Manufacturing
11:30 UK - Trade Balance
Trader Petar Milanov Read more:
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