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- Varchev Finance: Trading day in one post – 21.12.2017
Varchev Finance: Trading day in one post - 21.12.2017
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Loading...Asian stock market - Asian indices declined after US markets traded mixed against the backdrop of the country's adopted tax reform. The Nikkei 225 declined 0.28%, mainly driven by the uncertainty generated by the Bank of Japan's decision. In South Korea, Kospi declined by 1.12% after a sharp decline in Samsung shares with -2.24% and Hynix by -3.37%. In Australia, the ASX200 wiped out 0.19% of its value after a fall in stocks in the telecoms and real estate sector. Markets in China are trading in mixed moods. Hang Seng rose 0.1%, but mainland China declined. Shanghai composite wiped 0.44% and Shenzhen 0.56%.
FX market - After the US dollar, the dollar index remains relatively stable, with the Dollar Index moving at levels around 93.40. USD JPY is traded close to a two-week peak. The greenback moves in a rising channel following a breakthrough in the downward trend that has been in place by mid-September. Despite the predominant fall in Asian markets, JPY is trading slightly, mainly because of BoJ's decision to leave the country's monetary policy unchanged - a bond purchase of 80.4bn. yen monthly and base interest rate of -0.1%. In the last minutes of the session yesterday, NZD was in the spotlight with a strong growth of 50 points against the USD, reflecting better GDP per year: + 2.7%.
Commodity market - Oil futures continue to rise, reflecting another positive foundation. The US Department of Energy publishes data on oil reserves that made it clear that US oil reserves dropped by more than 6m barrels instead of forecasting 3.48m. Oil also receives additional support from the damaged North Sea oil pipeline, which is undergoing repairs. GOLD marks an increase as investors prefer it to the uncertainty stemming from the vote of tax reform and the thin market before and after the holidays.
US stock market - Wall Street ended with a decline of 0.11% to 24,726.65 points for Dow Jones. The broader S & P 500 lost 0.08% to 2 679.25 points and the Nasdaq technology reached 6 960.96 points, down from 0.04%. Pressure on trade was the introduction of technology giants Facebook, Apple and Alphabet. Among the big winners, however, was FedEx, whose shares rose 3.5% to 251.07 dollars a share. The company presented better-than-expected financial results for the quarter.
European stock market - European markets will start trading at prices very close to closing yesterday as we expect mixed sentiment from Wall Street and Asia to move to Europe. Taking into account the empty economic calendar at the beginning of the European Stock Exchange session and that it remains two days to the holidays, it is very likely that we will see a decline in European stocks and a low volatility. The DAX30 will start trading with a 1 point drop in price of 13069, the French CAC40 will open with a gap of 3 points up, and the UKX also so in a downward direction. Earlier today, GFK published consumer confidence data on the island, and it is clear that it is a 4 year old bottom. The biggest impact will be borne by retailers, as poor consumer confidence, high inflation and uncertainty brought about by Brexit have resulted in significantly less sales during the holidays when a large proportion of retailers were expected to accumulate a significant profit.
Economic calendar for European and US trade sessions - 21.12.2017
15:30 US - GDP
15:30 US - Philadelphia Manufacturing Index
15:30 Canada - ADP Non farm payrolls
15:30 Canada - CPI
15:30 Canada - Retail sales
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