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- Varchev Finance: Trading day in one post – 12.02.2018
Varchev Finance: Trading day in one post - 12.02.2018
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Loading...Asian Stock Market - Asian markets were trading mixed after Wall Street rally on Friday. In South Korea, Kospi rose by 0.83%, with industry and raw material companies has the main driver of growth. Samsung rose 2.64% to SK Hynix by 0.41%. Finance companies also rose slightly. In Australia ASX200 declined by 0.25%, while the earnings report season in the country continues to run. The index of energy companies in Australia fell 0.66%, despite rising oil prices, after six consecutive days of decline over the past two weeks. China bigger markets were on the rise. Hang Seng rose 0.33%, while Shanghai composite declined by 0.14% and Shenzhen rose 1.42%. The Japanese markets remained closed due to the official holiday in the country. Meanwhile, US futures set a positive start of the week following Friday's Wall Street growth.
FX Market - During the Asian session, the USD recorded a decrease against the major currencies. The decline comes a few days before the US inflation data is released. We expect investors to stay away from the dollar as long as inflation figures are not a reality. Expectations are positive in support of the Fed's tightening of monetary policy. Given the fragile stock market recovery, investors show increased risk appetite, focusing on AUD and NZD, which traded 0.27% and 0.25% increase since the start of trading. Rumors of tightening the monetary policy on the part of the ECB continue to push the euro upwards, marking an increase of 0.31% since the beginning of the Asian session. M.Carney's comments for further interest rate rises this year back GBP. For the time being, market analysts estimate the chance of a 75% increase in May. About Brexit negotiations are under way ... at least for the moment, despite the sheer comments from Theresa May.
Commodities market: GOLD is trading as an Asian session, not reflecting the recovery of indices. The illogical behavior of the precious metal remains in full force. Despite the collapse of the indexes, gold not only did not rise, but even vice versa, it collapsed with the stock. The reason for this is the rising power of the dollar. However, we must not forget that precious metal is used as a hedging instrument and can turn its short-term downward trend any moment. OIL: During the Asian session, black gold rose, but not because consumption jumped, but because of increased tensions in the Middle East. Over the weekend, the Syrian authorities demolished an Israeli fighter, whose pilot was accused of striking at an Iranian airport. Minutes after that, Israel hit Syria by air. The tension remains tense, and this calls into question the correct delivery performance, mostly on the part of Iran. The oil base remains highly negative, and the temporary conflicts in the Middle East will raise the price close to the tops from where we can look for a short entry.
European stock market - European markets will start trading with highly positive moods, following what is happening on Wall Street and in Asia. The German benchmark is expected to open 40 points higher at a price of €12,255. UK100 will start trading with 40 points higher at a price of 7,167 pounds. Only the French CAC40 will start trading without a change of €5105. Today, during the European session, there are no important economic data from the region, and we expect this to lead to lower volatility in the markets.
US Stock Market - Stock markets beyond the ocean managed to cover part of the losses accumulated in one of the worst weeks in history. Volatility reigned in the markets as at the beginning of Friday's session, Dow Jones lost 500 points but eventually closed the day with a growth of just over 300 points. In the last hour of the session the momentum accelerated and so the blue chip index recorded a growth of 1.38%, but for the week collapsed by 5.2% to 24191 points. For the S & P 500 the week also ended with a 5.2% drop. In Friday's session, the index was on green territory, gaining 1.48% to 2 619.55 points. Nasdaq closed Friday's session with a 1.44% gain to 6,874.49 points, which for the week means a drop of 5.1 percent.
Economic Calendar for the European and US Trade Session - 12.02.2018
10:15 Switzerland - CPI
21:00 USA - Federal Budget Balance
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