- Home
- >
- Daily Accents
- >
- Varchev Finance: Trading day in one post – 23.03.2018
Varchev Finance: Trading day in one post - 23.03.2018
Rating:
Loading...Asian Exchange Market - If we have to define the Asian session in one word, then we will not be wrong with "Rout". Trump's decision to introduce tariffs on Chinese export has hit Wall Street, but the whole weight of his decision has taken from Asian markets. Core indices in the Asian region fell more than 3.10%. In Tokyo, the Nikkei 225 declined by 4.19%, with the main losers in the automotive sector. Stocks in Australia are traded weakest - ASX200 posted a -2.03% drop. In Korea, KOSPI declined 2.24% mainly due to the technology sector. China, which will take the biggest negative from Trump's policy, also lost much of the market capitalization of local companies. Hangs Seng is traded nearly 3% lower. Shanghai composite collapsed by 3.27%, while Shenzhen traded nearly 4% lower.
FX Market - Investors seem to be pulling out of the dollar. The uncertainty brought about by Donald Trump's sudden decisions raises great questions about how the US economy will develop in the coming months. With uncertainty in the markets, one thing is certain, investors are fleeing controversial instruments, such as the dollar. There is hardly any need to point it out, but the most profitable in the situation is JPY. The Japanese currency rose by 0.50%, followed immediately by CHF. Note - CHF! The Swiss is also a currency of safe, as it is JPY, but it is characterized by the fact that it is seldom used for the Safe Haven tool. On the other hand, however, when investors resort to it, there is something. After yesterday's declines, AUD and NZD managed to recover by 0.21% and 0.20% respectively. CAD continues to be supported by oil growth, advancing by 0.18% during the Asian session. Later today, Canada will be focused on investors as we expect CPI data and retail sales from the country. For both economic indicators, expectations are positive, and if better than expected, we can expect further support for the Canadian.
Commodity Market - Besides CHF, the other thing that impresses today and gives us another amazing is the behavior of GOLD. For the first time in a long time, gold has manifested its essence as a safe haven instrument. Precious metal has risen nearly as much in the first hours of the Asian session. And while we're on the topic Safe Haven - VIX jumped 14%. Simultaneous growth of the four major havens guarantees one - the market is really dominated by uncertainty and high volatility. Over the past few days, WTI seems to have no intention of stopping the rise, all against the backdrop of higher oil reserves in the US and a weak dollar. During the Asian session WTI jumped 1.10%.
European stock market - To everyone's surprise, futures on European indices indicate a positive start of the session. DAX30 will open approximately 10 points higher at the price of 11895 euros. The French CAC40 will start with a drop of nearly 20 points at a price of 5082 euros. The FTSE100 will also be a loser amid concerns over the markets. The British benchmark will start the session at about £ 6881 or 10 points lower. During the European session, we do not expect important news from the old continent, but we are looking forward to developments on the Brexit issue, as well as the White House and China behavior.
US Stock Market - The Dow Jones Index erased 724.42 points or nearly 3%, down 23957.89 points. The main losers were Caterpillar, 3M and Boeing with a collapse of about 5% or more. The S & P 500 declined by 2.51% to 2643.74 points and seven of the eleven sectors, including technology and finance, traded in negative territory with a decline of more than 2%. The Nasdaq benchmark benchmark fell 2.43% to 7166.68 points. Stock market sales grew at the end of trading when the Dow Jones lost more than 250 points in the last hour of the session. Meanwhile, stocks of the banking sector also fell. Citigroup, J.P. Morgan Chase and Bank of America were downgraded to 4.12%, 4.17% and 4.14% respectively.
Economic calendar for European and US trade sessions - March 23, 2018
14:10 USA - Speech by Raphael Bostic, member of the Fed
14:30 US - Orders for durable goods
14:30 Canada - CPI
14:30 Canada - Retail sales
16:00 USA - Selling New Homes
19:00 USA - Baker Hughes - number of oil platforms
Trader Petar Milanov Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
