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- Varchev Finance: Trading day in one post – 19.07.2018
Varchev Finance: Trading day in one post - 19.07.2018
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Loading...Asian Exchange Market - Asian markets recorded moderate increases after a series of good corporate accounts on Wall Street. The most up-to-date sectors during Asian trade were the automotive, technological, and the stock of steelmakers. After the Asian yesterday's US session, the automotive sector is making the best profits, it's good to head to the European. As for the indices in Asia, the movements are as follows: Nikkei + 0.20%; Hang Seng + 0.05%; ASX200 + 0.30%; Shanghai composite -0.54%; Kospi -0.24%.
FX market - After better data on new jobs in Australia, AUD has a strong upward momentum, currently trading nearly half a percent higher than the major currencies. However, if we look at AUD/USD, it is clear that kiwi remains under pressure below the main levels of resistance. Better data was also published by Japan, which has rarely had a positive impact on the JPY. Later on, I expect the JPY growth to be completely eroded as the positivism of the stock markets intensifies and this will lead to the unloading of the hedging positions of the majority of portfolio managers. After Jerome Powell's two-day testimony, we can conclude that the Fed's expectations of the US economy's development in the medium term remain highly positive. Powell's comments led to an initial USD growth, after which the US currency weakened. As for the EUR/USD and the GBP/USD, the price remains above key support levels, but if overtaken, it will likely be a sharp and significant drop.
Commodity Market - WTI remains under pressure, mainly driven by rising world mining. Looking at the chart of the state yield, we again see All Time High. If we have to get a clear idea I will say that from 2011 onwards, to this day, the yield is doubled. This happened after the US once again allowed US oil exports, which was a great opportunity for shale makers. At present, US mining equals 11m. barrels a day or slightly more than Saudi Arabia. The technical price is retained in the upside trend channel, receiving support from short-term horizons, boosted by 23.6% Fibonacci correction of the main trend. Considering the negative foundation, it is possible to observe short-term downward impulses targeting the basic diagonal. In addition, Sequential has a 9-point downside and forms an arrow, also below - a likely ending of the downward movement and the likelihood of a new one in the direction of the trend. As far as gold is concerned, the option market has begun to show signs that the bearish trend is yet to begin. The net positions of large hedge funds have peaked, pushing the price of broad consolidation in the past year and a half. In combination with the buoyant dollar over the past few months, the metal has remained under pressure. In terms of demand, it marks an increase, but the rise in the stock market causes investors to flee safe haven tools like precious metal.
European stock market - During the European session today I expect the automotive and technological sector to be the most up-to-date. If we're looking for intraday winnings, it's good to head right there. Futures of European indices point to mixed moods before the start of the European session. DAX30 and CAC40 will start the session with 5 and 4 points respectively, which will probably be covered even in the first minutes of the interbank market. UKX will open an increase of approximately 5 points higher. Today we expect UK retail sales data, which may have a significant impact on GBP and the British benchmark. Expectations for retail sales are negative. In combination with the large leak options of £2bn at 1.3000 GBP/USD, I expect bears to take precedence.
US Stock Exchange Session - Wall Street Stock Markets closed in green, with a surge in Morgan Stanley's shares hoping for the banking sector. Dow rose by 79 points, with United Health and Caterpillar performing the most. The S & P 500 rose by 0.22% against the background of a 1.4% growth in the financial sector. Technological Nasdaq remained close to its closing levels from the previous session.
Economic Calendar for European and US Stock Sessions - 19.07.2019
Retail sales from the UK
Previous data: 1.3%
Forecast data: 0.1%
Production Index of Philadelphia - USA
Previous data: 19.9%
Forecast data: 21.6%
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