Varchev Finance: Trading day in one post - 29.05.2018

Asian Stock Market - On the background of the US holiday, most major markets in Asia traded lower. The Japanese Nikkei 225 lost 0.91%, Kospi -0.27%, HSI -0.68% and Shenzhen -0.71%. Only the Australian ASX managed to keep above the surface, taking into account the modest advance of 0.17%.

FX Market - The big favorite for today maight be the Yen, followed by the Swiss franc and the pound. While Euro is struggling to get on solid ground, but for now, the bearish sentiment takes advantage. In spite of serious pressures and stumbling blocks, CAD seems to be able to recover, and it is important to note that against the USD, it is already reaching serious levels of resistance. AUD and NZD so far are the losers.

Commodity Market - A year-long rally for oil prices has hit a major speed-bump with both Brent and West Texas Intermediate continuing to fall following Friday’s announcement by Saudi Arabia and Russia that they’re discussing easing output curbs.

European stock market Following the moods of Asia, European markets will open with slight declines, most likely trade in Europe today is going to be mildly and unobtrusively, as it's fairly light on the ground in terms of fundamental economic data releases today and so focus will continue to remain on the various geopolitical themes dominating market moves as we return to full liquidity conditions.

US Stock Market Futures of US indices also show slight declines, but they can be wiped out while the bell is still ringing because American traders are back loaded with new energy after the long weekend they've had.

On the geopolitical scene, The U.S. has readied sanctions on Pyongyang that could be unveiled soon, but was reportedly postponing the measures as the two countries attempted to resurrect talks.

Economic Calendar:

09:00 Switzerland - Imports

09:00 Switzerland - Exports

09:00 Switzerland - Trade Balance

09:45 France - Consumer Confidence

11:00 EU - M3 Money Supply

12:30 EU - ECB's Mersch Speaks

17:00 U.S. - Conference Board Consumer Confidence

17:30 U.S. - Dallas Fed Manufacturing Outlook