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- Varchev Finance: Trading day in one post – 21.02.2018
Varchev Finance: Trading day in one post - 21.02.2018
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Loading...Asian Stock Market - Asian markets traded slightly after the US drop. Regional indices were slightly rising. The Japanese Nikkei 225 rose 0.36% after yesterday dropped by more than 1%. Companies in the manufacturing sector rose as technology giants, car makers and financial companies declined. Meanwhile, in South Korea, Kospi declined by 0.05%. The ASX200 was trading close to the closing levels yesterday. In Hong Kong, Hang Seng rose 0.42%, with most of the sectors traded with increases.
FX Market - For the third consecutive day, albeit weak, the USD managed to recover from the losses accumulated in recent months. Since the beginning of the Asian session Dollar Index has traded 0.13% increase. The growth of the greenback comes amid mounting inflation expectations, which are likely to cause the Fed to raise the number of interest rises over the year. JPY remains the leader in losses during the Asian session. The Asylum Currency is traded down by 0.50% after the poorer production PMI data in the country. The strong yen has started to exert a strong negative impact on export-oriented exports, and this in turn will cause the Bank of Japan to leave the monetary policy unchanged. AUD traded down 0.41% after major mining companies contributing to a large portion of budget revenues collapsed during a stock exchange session in the country. EUR and GBP are traded unchanged, pending production PMI news in the Eurozone and wages and unemployment rates from the UK.
Commodities market - GOLD posted a downgrade from the peaks, mainly driven by a temporary US dollar appreciation. The price of precious metal forms a Double Top formation, which is why we expect the negative sentiment to increase. The fall in stock markets is likely to boost gold purchases, but we do not expect the metal to mark All Time High. OIL: Oil futures have suffered another blow from the shale industry following OPEC leaders' comments that the US's large shale exports hamper plans for a low-carbon cartel. WTI dropped by nearly 2%, keeping below 50% correction of the last downward wave.
European stock market - Futures on European indices indicate a negative start of the session. European indices will obviously follow Wall Street's downsizing and mixed sentiment in Asia. The German DAX30 will start trading with a drop of 22 points at a price of €12,408. The French CAC40 will open with a gap of 10 points lower at the price of €5253. Unlike stock markets in continental Europe, island companies will start trading without change. UKX is expected to begin trading at 7221 pounds.
US Stock Market - High inflation continues to hold Wall Street under pressure as investors are deeply worried about Fed's next move. Despite the predominant positivism among investors, the market reaction shows strong caution. Minutes before the end of the US session volumes jumped significantly, but in favor of vendors. A quick look at cash flows shows that SP500 share outflow has increased more than five times in just a few minutes, bringing the index down to 0.71%.
Economic calendar for European and US trade sessions - 21.02.2018
10:00 France - Manufacturing PMI
10:30 Germany - Manufacturing PMI
11:00 Eurozone - Manufacturing PMI
11:30 UK - Unemployment rate
11:30 UK - Average hourly wage + bonuses
16:00 USA - Speech by Patrick Harker, Fed member
16:15 UK - Speech by Mark Carney, BOE Governor
16:45 USA - Manufacturing PMI
16:45 USA - Services PMI
17:00 USA - Existing Home sales
21:00 USA - FOMC minutes
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