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- Varchev Finance: Trading day in one post – 23.08.2018
Varchev Finance: Trading day in one post - 23.08.2018
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Loading...Asian Stock Market - Asian markets are trading down, again because of US trade rates against China. New $16 billion new tariffs are in place today. on the import of Chinese goods into the United States. China's indexes are the biggest slump, with Shanghai composite down 0.34% and Hang Seng 0.72%. In Australia ASX200 also traded 0.24% down, and Kospi in South Korea with -0.15%. Only Nikkei 225 in Japan has grown by 0.20%.
FX Market - AUD is the most declining and volatile with the resignation of the Australian Finance Minister. The currency recorded a 0.80% decrease. I expect the foundation for resignation to continue to influence the European stock market. It is then that, during the interbank market, sales are likely to get deeper. USD rose against major currencies after last week's Fed confirmed its position and independence. Today, EUR will be in the spotlight today with a range of Eurozone news. Investors will turn their attention to the ECB's report of 14:45, where the CB is expected to confirm the monetary policy path towards tightening. I expect this to have a positive impact on the EUR. In addition, we also have a large volume of leak options at 1.1600 and 1.1625 levels.
Commodity Market - The dollar's decline has continued to have a positive impact on gold. As far as oil is concerned, traders have already accumulated low oil reserves in the US, and the withdrawal of Saudi Aramco's IPO has further pushed oil upward.
European stock market - European markets will start with mixed moods, mainly due to declines in Asia. It seems that the backward correlation between the Western and Asian markets will remain. This leads to the allocation of capital from Asia to Europe and the United States, which support the downward trend in Asian markets and the upward trend in Europe and the United States. DAX will start up nearly 30 points higher at a price of € 12404, CAC40 with a 5-point drop and UKX by 20 points. Given the mixed start, I expect the DAX to register a downgrade after opening up.
US Stock Market - The indices are traded in a balance between the trial cases of former Trump employees and the good corporate reports in the country. The SP500 closed the session with -0.04% close to the peaks, as oil growth managed to lift the energy sector and offset losses in other sectors. Nasdaq seems to be developing in a completely different environment. The index ignored all the negative factors and rose by 0.38%. Dow recorded a decline, reflecting concerns about the scandals and the tariffs that came out today.
Economic Calendar for European and US Trade Sessions - 23.08.2018
Tentative - Jackson Hole Symposium
09:00 Germany - GFK consumer climate
10:30 Germany - Manufacturing PMI
11:00 Eurozone - Manufacturing PMI
11:00 Eurozone - Services PMI
14:30 Eurozone - ECB Monetary Policy Report
15:30 USA - Jobless claims
16:45 USA - Manufacturing PMI
16:45 USA - Services PMI
17:00 USA - New Home Sales
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