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- Varchev Finance: Trading day in one post – 13.07.2017
Varchev Finance: Trading day in one post - 13.07.2017
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Loading...Asian Stock Market - The positive wave generated by the technology sector in the US yesterday shifted to Asia. The lack of escalation in trade relations between the US and China has led traders to make purchases. In Japan, the Nikkei 225 jumped 1.58%, with all sectors turned green and the declining risk crashed JPY. This additionally had a positive impact on the Japanese benchmark. In Hong Kong, the Hang Seng index rose 0.5%, with consumer goods and services contributing to overall profit. Mainland indices traded in opposite directions, with Shanghai composite down 0.12%, while Shenzhen added 0.61%. In South Korea, Kospi jumped at a near rate, with all car, technology and bank stocks rising. ASX200 in Australia declined by 0.07%.
FX Market - Better data on China's trade balance led AUD with 0.14% higher than yesterday's closing. In view of rising stock markets, I expect the Australian to continue to rise on the European interbank market. GBP has been under pressure after a not-so-good match between Donald Trump and Teresa May in the UK. Trump strongly criticized May's job as well as a large majority of British rulers, saying the tariffs would not go to Britain after leaving the EU. The pound is trading at -0.20% down. CAD is also under pressure against the background of falling oil prices and Saudi Arabia's plans to lower them further. Today, the economic calendar lacks important economic news to influence the FX market. As a result, I expect lower volatility in the currencies and the main driving force behind the trade war and the growth of stock markets.
Commodity Market - Gold is likely to be under pressure as I expect bears to be more insistent with the test of the support zone where the precious metal is currently in place. As for oil, the number of oil platforms today is on the calendar, according to Baker Hughes. The news is not characterized by a strong impact on the price of black gold, but major changes in the value of the indicator would add extra weight. We are waiting for news from Libya, which announced that it intends to open the closed four ports for oil exports. Developing news on the issue will lead to a second much stronger downward momentum.
European stock market - European indices will start the session with gaps in the upward direction. I expect the price differences to be filled in the first few minutes, and positivism on the market will prevail. Given the upsurge of technology companies in the US, as well as automobile cars in Asia, it is good to focus on these sectors. Today, during the US interbank market, we need to avoid the banking sector, as Citi, JPM and Wells Fargo are expected. The German DAX will open about 50 points higher at a price of €12,550. The French CAC40 will register a first quote at a price of about €5429 or about 20 points higher. On the island, UKX will open more than 20 points higher.
US Stock Market - US indices reached significant growth after a Wall Street technology rally helped Nasdaq register All Time High early in the reporting season. The index added 1.4% to its value to 7823.92 points, while shares on Facebook and Amazon reached their highest level in history. Microsoft and Alphabet also achieved record in the course of stock trading. Netflix, however, stayed away from the rally, recording a 1% decline. Dow jumped 224.44 points to its value and ended the session at $ 24924.89. The S & P 500 rose by 0.9% to $ 2798.29.
Economic calendar for the European and US Trade session - 13.07.2018
10:15 Switzerland - PPI
17:00 US - Michigan Consumer Moods
20:00 USA - Baker Hughes number of oil platforms
Trader Petar Milanov Read more:
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