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- Varchev Finance – Trading day in one post 13.06.2018
Varchev Finance - Trading day in one post 13.06.2018
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Loading...Asian stock market: Asian markets eased in Wednesday action as investors shifted their focus from the recently concluded U.S.-North Korea summit to the conclusion of the Federal Reserve's June meeting later in the day. Japan's Nikkei 225 edged up by 0.15 percent, down Under, the S&P/ASX 200 declined 0.51 percent, with most sectors trading in negative territory, greater China markets came under pressure. In Hong Kong, the Hang Seng Index slipped 0.49 percent and on the mainland, the Shanghai composite edged down by 0.55 percent.
FX market: The dollar is strengthening in afternoon trading after a Wall Street Journal report that Federal Reserve Chairman Jerome Powell is considering holding a press conference after every FOMC gathering, indicating every meeting potentially could include a change in interest rates. It’s unknown if Powell will announce a change in press-conference policy today. The greenback also advanced against the AUD and CAD amid trade concerns. Canadian Prime Minister Justin Trudeau reiterates the U.S.’s push for a Nafta sunset clause is unacceptable. The British pound gains and then fades after UK Prime Minister Theresa May defeats a push for a "meaningful vote" in Parliament on a Brexit deal, as the resonance of the news subsides, Sterling's main driving force today will be the inflation data from the island. The euro will play a passive role in today's events and its pairs will be the driving force in the crosses of the single currency, investors have been focusing on the upcoming ECB meeting tomorrow when they will try to find out about Draghi's upcoming moves.
Commodity market: West Texas crude fluctuated around $66 a barrel after Iraq joined other OPEC members in resisting a push to boost oil supplies, but most likely that the price of black gold will remain in a tight consolidation until June 22 when The Organization of Petroleum Exporting Countries (OPEC) is expected to meet with the non-OPEC Russia, to discuss production policy. Gold, the precious metal remain stuck between rising interest rates and a stronger dollar on the one hand and demand for haven assets on the other.
European stock market: Futures of European indices are frightened in anticipation of Central Bank Decisions, today we expect mostly caution in Europe, as rumors that the ECB will signal tightening monetary policy are boosted.
U.S. stock market: With a rate hike widely expected, investors are focused on the Fed’s statement wording, economic projections and press conference for clarification on the future pace of interest rate hikes.
Economic calendar:
10:15 Switzerland - Industrial Production
11:30 UK - PPI
11:30 UK - CPI
12:00 EU - Industrial Production
14:00 USA - MBA mortgage applications
15:30 U.S. - PPI
21:00 U.S. - Interest Rate decision
Trader Georgi Bozhidarov Read more:
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