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- Varchev Finance: Trading day in one post – 17.01.2018
Varchev Finance: Trading day in one post - 17.01.2018
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Loading...Asian Stock Market: Asian markets traded on negative territory, after Wall Street ended the session with losses. Japan Nikkei 225 declined by 0.35% after it reached its 26-year high. In South Korea, Kospi declined by 0.17%, the key driver of the decline was technological shares led by Samsung, which wiped out 0.48% of its value. In Australia ASX200 dropped 0.54% after the decline in industrial metals. Mining companies in the country marked a sharp decline, with Rio Tinto wiping 2.77% and BHP dropping 2.46%. The Hang Seng index fell 0.44% after recording a record on Tuesday. Financial companies in China traded slightly, with HSBC and China Construction Bank rising by 0.12%. On the Mainland of China, Shanghai composite posted a slight increase of 0.34% and Shenzhen down 0.91%.
FX market: USD stabilized during the Asian session, but failed to gain profits. The dollar index is traded at around 90.30. Given the increasingly frequent comments that the Fed will not make more than 2 interest rises in 2018. USD remains under pressure. During the Asian session, the EUR was in the spotlight, initially the currency rose to 1.2291, and then dropped to around 1.2250, mainly because of concerns that the ECB may not adjust its monetary policy in 2018. Doubts about coalition Negotiations in Germany were also heavy on the euro. JPY, despite good data from Japan traded by 0.35% decline. NZD and AUD are also down, mainly due to the drop in raw materials. GBP continues to trade close to the top, receiving support from Europe good-natured Brexit, as well as by Bank Of England, which tightens monetary policy at the fastest pace among central banks as a result of rapidly rising inflation in the country.
Commodity market: On the energy market, oil is down, traded at around $ 63.50 a barrel. The reason for this is the US Energy Ministry's forecast, which states that shale oil production and this as a whole will reach record highs in February. On the other hand, in Chicago, hedge funds close their long futures contracts, accumulating rumors. Gold traded with a fall from the record highs it reached despite the stock market turmoil. Copper fell 0.4 percent, while Palladium performed better than the other 32 major raw materials Bloomberg traced last year. In spot markets, the metal climbed 3.9% to $ 1,096 per ounce, approaching the record set 17 years ago. Used to reduce pollution caused by gasoline and diesel vehicles, Palladium is backed by worries about weak demand. Stocks monitored by the New York Mercantile Exchange remained unchanged this month after recording a fourth consecutive year of declines.
European stock market: Despite Wall Street and Asia, European markets are preparing for a positive start for the second consecutive day. The German DAX30 is expected to open 30 points higher at a price of €13180. The French CAC40 will start gambling, up 20 points at a price of €5499. Britain's UKX is preparing to start trading 10 points higher at a price of 7232 pounds. Today, the calendar lacks important economic news from the eurozone, and we expect the sharp movements in the euro and the reports released by companies during the day to move European indexes.
US Stock Market: Wall Street Session on Tuesday ended in a negative territory. At the start of the trade, leading indices moved at a record level, with the Dow Jones advancing by 283 points and jumping for the first time by psychological 26,000 points. But good moods did not last until the end, and investors were disappointed with the news of a possible cessation of government work in the United States. By the end of the week, Congress must vote on government spending, otherwise its work will be blocked. The debate is further complicated by the insistence of the Democrats to push the law on immigration. As a result, Dow Jones declined, albeit with a tiny 0.04%, to 25 792.86 points. The decline for the S & P 500 is more pronounced, -0.35% to 2776.42 points. For the Nasdaq, the decline was from 0.51% to 7223.69 points.
Economic calendar for European and US trade sessions - 17.01.2018
12:00 Eurozone - Harmonized Index of Consumer Prices
14:00 USA - MBA Mortgage Applications
16:15 USA - Industrial Production
17:00 USA - Housing Market Index NAHB
17:00 Canada - BoC Decision on the Base Interest Rate
21:00 USA - Beige Book
22:00 USA - Statement by the Fed Chairman for Chicago.
23:30 USA - Statement by Fed Chairman Loreta Master
23:30 US - Oil inventories according to API
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