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- Varchev Finance: Trading day in one post – 11.07.2018
Varchev Finance: Trading day in one post - 11.07.2018
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Loading...Asian Stock Market: Trade developments returned to focus during Asian trade, with major markets in the region falling following the release of a list of an additional $200 billion in Chinese goods on which the U.S. is considering imposing tariffs.
FX Market: USD remains the strongest currency on the market after it managed to erase the yen's advance, while AUD stumbles after Washington announced the plan to impose new tariffs for Chinese goods. GBP remains vulnerable to the political crisis in the UK. CAD, the Bank of Canada's basic interest rate will be announced today, with market players assessing the probability of increasing interest rate to 96%. Today EUR has a passive role in major crosses due to the lack of economic data from the Old Continent, yet traders will remain cautious, at least until the statement of ECB President Mario Draghi passes.
Commodity Market: Oil prices remain in tight consolidation, but a slight downgrade is likely after the United States said it would consider requests from some countries to be exempted from sanctions it will put into effect in November that prevents Iran from exporting oil. Gold, contrary to its role of safe haven, the price of precious metal continues to fall, ignoring the escalating tension in trade relations. Copper fell by about 3% to its lowest value since July 2017.
European stock market: The global trade concerns has not passed the futures in Europe, with the main indices opening with declines. The moods before the opening are negative, today we may see moderate sale offs.
US Stock Exchange: S&P 500 and Dow futures are down, pointing to a lower open for Wall Street later in the day. The markets still remain sensitive to the trade-related theme, which is something investors have to take into account for the long term. At the same time, the trade dispute can easily be blamed for a variety of ills. But it could mask over factors that could also weigh on equities in the longer run, such as tighter monetary policies led by the United States.
Economic calendar:
10:00 EU - ECB President Draghi's Speech
14:00 USA - MBA mortgage applications
15:30 US - PPI
17:00 Canada - Interest rate decision
18:15 Canada - BoC Press Conference
18:35 UK - BOE's Governor Carney speech
19:30 US - FOMC Member Bostic speech
Trader Georgi Bozhidarov Read more:
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