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- Varchev Finance: Trading day in one post 20.04.2018
Varchev Finance: Trading day in one post 20.04.2018
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Loading...Asian Stock Market: Asian indices are trading with declines. The Japanese Nikkei is with 0.2% drop, Kospi by 0.34% down. The Australian ASX wiped out 0.22% of its value. China's markets also reported a decline. Hang Seng wiped out 0.39% and Shanghai composite fell 1.2%
FX market: Although the fundamentally US dollar should rise, investors are strangling it. Even more, the short stakes on the ETF 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 pair positions. It is better to wait for the zone of support or resistance or breakthrough in any of these areas to look for positions. CAD: Significantly weakened during the announcement of the basic interest rate in the country. Despite the positive comments made by the President of the Central Bank, the CAD continued to become cheaper. Today we expect the data on inflation and retail sales in the country. If we see higher-than-expected results, speculators will once again board the "interest rate" train. GBP: Mark Carney managed to sink the pounds. After his statement yesterday investors sold the currency. Currently GBP/USD is traded below the key level of $ 1.41. However, we must not forget that the probability of an increase in May is 85%, which makes it very unlikely that this pouring takes long. If the GBP/USD breaks below its key support, we can see a new bearish momentum.
Commodities market: GOLD stays in the middle of its consolidation. The price of precious metal is moving in the chop market for the 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 a decrease in price during the Asian session. Brent crude oil fell 9 cents and traded at about $ 73.69 a barrel. WTI is down 7 cents, at about $ 68.22 a barrel.
European stock market: European indices will start the session with small gains. The German DAX will open a 7-point rally at a price of 12,557 euros, the French CAC with a 1 point increase at a price of 5392 euros and the UKX with a 3 point increase, around the price of 7347 pounds.
US stock market: US benchmarks keep their upward momentum. The breakthrough in the main diagonal resistance in all three indices, together with positive quarterly corporate reports, has calmed down investors and we see a rise in demand for risky assets. For the moment, the global environment has calmed down and there are no political risks. We remain positive towards the US indices.
Economic calendar for the European and American trade sessions 20.04.2018
9:00 Germany - PPI
15:30 Canada - CPI
15:30 Canada - Retail sales
17:30 USA - Fed's Evans speech
18:15 USA - FOMC member Williams speech
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