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- Varchev Finance: Trading day in one post 26.04.2018
Varchev Finance: Trading day in one post 26.04.2018
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Loading...Asian Stock Market: Asian indices are trading in mixed moods. Japanese Nikkei has a 0.59% increase. Korean Kospi with 1.59% in green territory. Chinese Hang Seng and Shanghai composite, however, wiped out 0.7% and 0.92% of their value. Australian ASX traded with a 0.17% drop.
FX market: USD continues to rise. The dollar index, which measures the strength of the US currency against its major rivals, moved above level 91 and practically broke from consolidation in the upward direction. The EUR/USD situation is similar. The price is under a horizontal support that shapes the consolidation, and we can now say we're witnessing a breakthrough test. If the price reverses its short-term movement and closes under the resistance (the former support), we can conclude that the breakthrough is confirmed and the downward movement is forthcoming. On the other hand, if the price returns to consolidation, the positivism of the dollar bulls may disappear again. Technical analysis is currently supporting the USD. Today we expect important US data for long-term durable goods. If data is above expected, we may see a positive impulse in the dollar. EUR: The bulls of the EUR seem insecure. The common currency has begun to lose its strength. Today we expect the central bank's decision on the main interest rate. The market estimates the possibility of a 5% rate change. A little later in the session, the central bank will present a report on its monetary policy as well as a press conference. During the news, we expect high volatility. CAD: The Canadian dollar weakened last week. Despite the relatively positive comments of the President of the Central Bank, the currency depreciated. This week we are looking forward to further statements by George Poloz, whose comments will most likely give the direction of the Canadian dollar. Fundamentally, the currency should perform well compared to its competitors, mainly because of the high oil price.
Commodities market: GOLD: Despite the rise in the dollar, gold seems to be in no hurry to decline. The precious metal remains in its consolidation. While the price is locked between the $1370 and $1300 levels, it is more reasonable not to rush or enter into deals. Although the global environment has calmed down, investors are not in a hurry to pull capital out of the precious metal. OIL: Black Gold futures indicate a rise during the Asian hours. Brent's oil has risen by 14 cents and is priced at around $ 74 a barrel, while WTI rose 35 cents and traded at about $ 68.05 a barrel.
The European stock market: European indices will start the session in positive territory. The German DAX will open a 65 percent increase around the price of 12475 euros, the French CAC with a 24 point increase around the price of 5432 euros and the UKX UKX with a 5 point increase of around 7385 pounds.
American Stock Market: After reaching 3% yield on US government bonds, US indices are subject to investor skepticism. If you have a safe 3% return per year, why risk and invest in risky assets and get almost the same return. We see the reluctance of investors despite the positive fiscal statements of the companies for the first quarter. Netflix, for example, wiped out all the 9% that he had raised during the great fiscal report. For now the fundamental analysis of US markets is changing to negative.
Economic calendar for the European and American trade sessions 26.04.2018
10:00 Germany - Gfk consumer confidence
11:30 UK - BBA Mortgage approvals
14:45 EU - Interest rate decision
15:30 USA - Initial jobless claims
15:30 USA - Durable goods orders
15:30 EU - ECB press conference
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