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- Varchev Finance: Trading day in one post 13.03.2018
Varchev Finance: Trading day in one post 13.03.2018
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Loading...Asian stock market: Asian indices traded in a different direction. Japan's Nikkei added 0.41% to its value. However, the Australian ASX traded with a 0.47% drop. Chinese markets are also traded in red territory. Hang Seng wiped out 0.27% of its value and Shanghai composite fell 0.23%
FX Market: USD continues to move in consolidation against EUR. The dollar index, measuring the strength of the US currency against its main competitors, is around the psychological level of 90. If the index goes below this level, the bearish sentiment will increase and we see a further weakening of the US currency. Today we expect inflation data in the United States. Analysts' expectations are 1.8%, which is below the central bank's target of 2%. However, if the CPI is above expectations, we will even see the strong upward momentum of the US currency. JPY seemed to lose its momentum during the Asian session. USD /JPY is traded above the key level of 106.00. From a technical point of view, we still have lower tops that support the downward movement. The price remains below the SMA 200 - also a negative signal. But the fundamental analysis it's not positive for JPY. The central bank does not indicate that it will end or reduce QE, which negatively affects the yen. CAD: The Canadian dollar is under pressure after tariffs on imports of steel and aluminum in the United States. Canada's largest market is their southern neighbor and these tariffs have a serious impact on the Canadian economy. USD/CAD has come out of consolidation and is now looking for a rising impulse to solidify the upward trend. We remain negative to CAD.
Commodities market: Gold continues to trade locked between $1370 and $1300. The stabilization of the USD somewhat calmed the volatility of gold. Today we expect inflation data in the US, which will directly affect the price of precious metal. With better-than-expected data, the GOLD price is likely to decrease. OIL: Black Gold futures indicate a fall in price during the Asian hours. Brent crude oil traded with a 0.2% drop at $64.85 a barrel, while WTI was down 0.2% and traded at a price of 61.25$ per barrel. The reason for the decline in oil is the increase in US stockpiles of black gold.
European stock market: European indices will start the session on Tuesday with increases. The German DAX will open a 6 point increase, the French CAC with a 3 point increase and the UKX with a 5 point increase. Unlike US indices, European benchmarks fail to regain losses from last month's sales. The technical analysis shows that we already have a trend with lower peaks, and if it is not discontinued, we can expect further decreases in European indices.
American stock market: US indices perform much better than those in Europe. Although the US 30 and US 500 still can not get rid of their losses from the sellouts that occurred in February, Nasdaq yesterday closed at a record high. Technological index, as always, first emerged from the short-term adjustment. Moods to US benchmarks remain positive.
What economic data to expect during the European and American trade session 13.03.2018
8:00 France - Nonfarm Payrolls
13:30 UK - Budget report
14:30 USA - CPI
14:55 USA - Redbook index
16:30 Canada - BoC governor Poloz speaks
22:30 USA - API weekly crude oil stock
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