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- Varchev Finance: Trading day in one post 18.04.2018
Varchev Finance: Trading day in one post 18.04.2018
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Loading...Asian Exchange Market: Asian indexes are trading with gains. The Japanese Nikkei is 1.23% up, Topix 0.83%. Korean Kospi advanced 1.23%. Australian ASX added 0.22% to its value. Chinese markets are trading in mixed moods. Hang Seng has a 1.07% increase, while Shanghai composite and Shenzhen composite have wiped out 0.03% and 0.37% of their value.
FX market: USD again weakens. Although the fundamentally US dollar should rise, investors are staying away from it. Even more, the short positions on the ETF's and the dollar continue to rise. We can expect an increase in the US currency at the end of 2018 and early 2019. Then the gap between central bank interest rates will be more likely to be felt. EUR/USD is clearly determined to stay in consolidation. For the time being, it is not appropriate to look for any positions. It is better to wait for the zone of support or resistance or breakthrough in any of these areas to look for positions. GBP: has enjoyed investor enthusiasm over the past few weeks. For a brief moment, the island currency reached its highest point since Brexit, then fell below the resistance. The interest rate rise in May is already priced in by the market. It is now coming to show that there will be no further increase until the end of 2018, and that's probably bring a drop in the pound. CAD: The Canadian dollar remains among the most highly valued currencies on the market. The high oil price supports the value of the Canadian currency. Against the dollar, CAD has entered a broad mid-term upward trend, but it still remains strong. For now, it is better to wait for support to reach around 1.2370 before taking action.
Commodities market: GOLD stays in the middle of its consolidation. The price of precious metal is moving in the choppy market for fourth month. On the one hand, rising inflation in the United States and the projections for an aggressive interest rate hike from the Fed should push the price down. On the other hand, however, global and political uncertainty does not give investors the peace, and they seek shelter for the brilliant metal. OIL: Black Gold futures indicate an increase during the Asian session. Brent oil is trading at a 0.5% increase at $71.90 a barrel, while WTI is up 0.5% at $66.85 a barrel.
European stock market: European indices continue their upward movement. The German DAX will open a 25-point rise to EUR 12610, the French CAC with a 10 point increase of EUR 5365 and the UKX with a 2 point increase of 7342 pounds.
US Stock Market: Investors seem to be on the bullish train again. And the 3 major US benchmarks have broken their main resistance, suggesting that the downward movement may be over. We are at the height of the reporting season. For the moment, companies have better than expected fiscal results, which is actually the reason for the rise in indices. We remain positive about the US stock market.
Economic calendar for the European and American trade sessions 18.04.2018
11:30 UK - Retail sales
11:30 UK - PPI
11:30 UK - CPI
12:00 EU - CPI
17:00 Canada - Interest rate decision
18:15 Canada - BoC press conference
21:00 USA - Beige book
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