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- Varchev Finance: Trading day in one post – 23.05.2018
Varchev Finance: Trading day in one post - 23.05.2018
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Loading...Asian Stock Market - Asian indexes turned red after Donald Trump said he was not satisfied with the latest round of trade talks with China. Japan is the loser in the Asian region, with Nikkei down 1.29%. Topix wiped 0.98%. In South Korea, Kospi is trading unchanged, as Trump congratulated Samsung and LG on the progress made in trade and consumer security. In China, Hang Seng collapsed by 0.65%, Shanghai by 0.48%, and Shenzhen by 0.23%.
FX Market - Expected, against the backdrop of stock market declines, JPY takes precedence over major currencies. The Japanese currency registered a growth of 0.35%. The most losing ones are AUD and NZD, as the economies of New Zealand and Australia are directly dependent on China's economic development. However, his future is shaken by the economic friction between the US and China. In support of the pressure on the NZD, RBNZ's publication also showed that it is soon thinking of tightening monetary policy. This has a strong negative impact on the kiwi, and our expectations are the decline to continue during the European session. EUR and GBP were traded without major change during the Asian session, but today we expect important economic data from the Eurozone and the UK that will dictate the daily sentiment. If we have to talk about the top losing currencies today, TRY undoubtedly seizes all points. The currency depreciated by nearly 2% in just 3 minutes at the start of the Asian session, against the backdrop of the inaction on the part of the Turkish central bank. Nearly two months ago, the Turkish financial authorities have hinted that it would raise interest rates in order to put an end to the continued slump in the pound, but that did not happen. The last crash. which reached a peak of nearly 4%, was achieved within a few minutes, most likely by an Asian bank closing positions of TRY.
Commodity Market - Speculation that OPEC will most likely increase production next month is growing significantly. The actions will respond to fears of a decline in Venezuelan exports and a possible shortage of Iranian oil. The current market reaction is a reduction in oil of nearly 2% only a day. I expect the decline to be short-lived and, given the foundation, keep the price close to the current levels. Gold is trading slightly, mainly due to worries about the stock market and US-China relations.
European stock market - Futures of European indices indicate a decline. DAX will launch the European session 20 points lower at a price of about 13,147 euros. The French benchmark CAC40 will go down by 5 points and the UKX with 4. I expect the stock pressure to keep up during the European session. At the beginning of the session, we expect important data from Germany and the Eurozone, which could influence stocks and observe increased volatility.
US stock market - US indices reported a decline Tuesday after President Donald Trump said he was not happy with the US-China trade talks He also said the most anticipated meeting with North Korea might not happen at the end on the edges. Following these comments, Dow Jones dropped 178.88 points to 24,834.41 points, with Boeing's shares falling by 2.5%. The S & P 500 declined 0.3 percent to 2,724.44 points, with the largest drop in the energy sector. Technological Nasdaq lost 0.2% of its value and closed at 7,378.46 points.
Economic Calendar for the European and US Trade Session - 23.05.2018
10:30 Germany - Manufacturing PMI
11:00 Eurozone - Manufacturing PMI
11:00 Eurozone - Services PMI
11:30 UK - CPI
16:45 USA - Services PMI
17:00 USA - Selling New Homes
17:30 US - Crude Oil Inventories
21:00 USA - Fed report
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