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- Varchev Finance: Trading day in one post – 13.11.2017
Varchev Finance: Trading day in one post - 13.11.2017
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Loading...Asian Stock Market: Asian markets are trading in mixed moods on the first business day of the week. Japanese benchmark Nikkei 225 declined by 0.64%, the main losers were the technology companies and those of retailers. On the Korean peninsula Kospi wiped out 0.44% of its value, with car companies' profits not being able to cover losses in heavy industry. ASX200 declined by 0.23%, and the main selling drivers were the financial companies in the country, which fell by 0.63% on average. Against the backdrop of weaker regulations and the possibility for foreign investors to hold majority stakes in Chinese companies for the first time, China's markets are on the rise. Hang Seng rose 0.27%, Shanghai composite rose 0.30% and Shenzhen Composite rose 0.15%.
Currency market: During the Asian session, the pound was the worst performing currency after it became clear that 40 MPs from the British Parliament signed a letter expressing their distrust of power. At the moment the currency traded 0.51% lower than Friday, and during the downward moment the GBP reached -0.55% loss. Given the growth in China's capital markets and good prospects for AUD and NZD as China-dependent, they are showing a slight growth of 0.02% and 0.01%. USD remains static, and this week we expect inflation data in the country to rise. JPY and EUR traded with a slight decrease of 0.13% and 0.08%.
Commodity market: Oil is trading unchanged, with all investors awaiting the outbreak of arrests in Saudi Arabia that triggered strong growth in raw materials. However, against the backdrop of all the problems surrounding Saudi Arabia, investors are not aware of the growing US exports and the increase in shale deposits. Taking into account these two news, when the arrests in Saudi Arabia are well dismantled, we expect the price of black gold to drop or otherwise stay at the current levels until the problems fail. Gold is traded slightly, but given the mixed moods of the markets, the metal still has no direction. A break of $1264 or $1288 will show increased interest, and we can look for an entry according to where the price breaks.
US Stock Market: The Dow Jones and SP500 broke the longest winning series for the past four years after fears about US tax reform sent red indexes for the first time in eight weeks. Dow declined by 0.17%, closing the week by 0.5% lower. SP500 declined by 0.09% on Friday and closed the trading week by 0.2% lower. Nasdaq rose on Friday, but failed to record another winning week and closed 0.2% lower than the previous one.
European stock market: European markets are preparing to start the week with an increase given the rise of the markets in China, which is one of the main markets of the European countries. The German benchmark DAX30 is expected to start the first business day with an increase of 25 points at 13152. The French will begin trading with a 5-point increase. UKX will start with an increase of 25 points to 7465. Today, at 11:00, Vitor Constantio will hold a speech from which investors hope to get more information about the ECB's monetary policy. Here it is clear that low interest rates remain and QE continues until the end of September, with markets taking advantage of it.
Economic Calendar for European and US trade sessions - 13.11.2017
09:00 Germany - WPI (Wholesale Price Index)
11:00 Eurozone - Speech by Vitor Constantinio, Member of the ECB
21:00 United States - Federal Budget Balance
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