- Home
- >
- Daily Accents
- >
- Varchev Finance: Trading day in one post – 24.11.2017
Varchev Finance: Trading day in one post - 24.11.2017
Rating:
Loading...Asian Stock Market: The Japanese Nikkei 225 traded 0.47% lower, after the bank and manufacturing, along with retailers, dropped and outperformed the technology where the biggest gains were in the session. Korean Kospi rose 0.03%, while Samsung dropped 0.07%. ASX200 declined by 0.24%, with industrial and technology industries being the main drivers. Chinese stocks were in focus after the major markets in China registered a sharp decline in the last session. The Hang Seng Index declined 0.39% after closing 1% less on Thursday. On the mainland Shanghai composite is 0.17% lower and Shenhzen 0.04%. The CSI 300, which experienced its biggest one-day drop since June 2016 in the last session, wiped out 0.89%, with the overall drop from yesterday to today at almost 4%.
Currency market: GBP - the negativity alongside the pounds remains as soon as this week it became clear that the government will have to cut spending a lot, and expectations for GDP this and next year were revised to a minimum. At the same time, the country's debt is expected to rise, more and more. The pound is currently trading at a 0.09% loss against the dollar. Today, at 11:30, we expect UK mortgage credit figures to predict a fall in the index. If the actual data is worse than expected, it is likely that we will see an additional GBP decrease during today's session. USD - the greenback is traded unchanged after a relatively "quiet" report from the FOMC's last meeting. The dollar index is traded at 93.15 levels, against the USD yen gaining positions, and the pair is now at 111.47. Today, at 16:45, we are expecting PMI news in the industry and expectations are positive. If we see growth in the PMI index, it is likely to follow a USD rise. EUR - The euro continues to gain profits amid good economic performance since Thursday. The common currency traded at 1.1854 per dollar, recording a new daily high at around 1.1859. At 11:00 today, we expect three major news from Germany, which may influence the performance of the currency - Business Expectations, Current Conditions and Business Climate in Germany.
Commodity markets: WTI marks record highs, rising by 0.69% during the Asian session and reaching the levels of $ 58.42 amid mounting tensions between France and Iran, as well as the forthcoming OPEC meeting in Vienna, which is expected the organization to extend the abstraction program to the end of 2018. We expect the upward movement in oil to remain, or the price to remain in consolidation, until the OPEC and other producer countries' decision on future mining cuts becomes clear.
European stock market: European stocks are expected to start green trade, with the DAX30 launching a 10-point increase in price to 13,017, the French benchmark CAC40 with 4 points higher at 5381 and British UK100 15 points higher, high on the price of 7420. Today, investors will monitor the economic news from Germany, which will provide investors with information on the current conditions and business climate in the country. Expectations are for improvement in indicators and if this becomes a reality, we are likely to see a rise in German stocks. Later in the day at 11:30 UK will publish information on approved mortgage loans, with forecasts for worse data showing how Brexit is impacting the mortgage market. For worse data, we expect a decline in construction companies on the island, and from there a UK100 decrease.
US Stock Market: In the last working session on Wednesday, Nasdaq composite was able to close with a new record driven by Amazon's profits. The index ended with a 0.1% increase to 6,867.36 after Amazon earned more than 1%. The company's shares rose after CNBC reported that the company is preparing to declare a deal with Cerner, one of the world's largest health technology companies. The S & P 500 and Dow Jones Industrial Average ended in a negative territory after the Fed expressed concern that high levels of the markets could have catastrophic consequences for the economy. Dow fell 64 points and closed at 23,526.18, with DowDuPont dropping by 0.9%. The S & P 500 fell 0.1 percent to 2,597.08, with both financial and real estate companies worst performing in the index. Today, the Thanksgiving Day is celebrated in the United States, so expectations are for the markets to remain calm, waiting for more details about the tax reform promised by Trump.
Economic Calendar for European and US Stock Sessions - 24.11.2017
11:00 Germany - Business Expectations
11:00 Germany - Current conditions
11:00 Germany - Business climate
11:30 UK - BBA Mortgage Applications
14:30 Eurozone - Speech by Vítor Constâncio, Member of the ECB
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
