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- Varchev Finance: Trading day in one post 30.04.2018
Varchev Finance: Trading day in one post 30.04.2018
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Loading...Asian Stock Market: Asian indexes are trading with gains. Korean Kospi is with 0.62% increase. Australian ASX reported a 0.43% increase. Hang Seng added 1.56% to its value. The emerging market index, MSCI, rose 0.93%. Today, markets in Japan and China remain closed for official holidays in the countries.
FX market: USD remains strong. The dollar index, which measures the strength of the US currency against its main competitors, remains above the key level of 90. The EUR/USD tested below its mid-term consolidation in a downward direction and is currently testing the breakthrough. We can look for short positions once the level is reached. Fundamental analysis of the dollar remains strong. The FED may be the only central bank to raise interest rates more than 3 times this year. Another factor is that economic data shows that the US economy continues to exceed expectations. Inflation is gaining momentum, and it is obvious that the dollar will once again be among the strongest currencies on the market. JPY: The Japanese yen on the other hand has begun to lose its position quickly. Safe haven instruments like JPY are not in vogue when there is no market and geopolitical uncertainty and turbulence. After North Korea announced it would end its nuclear program in May, we expect the Japanese currency to continue to weaken. The monetary policy pursued by the BoJ will remain in place at least until the end of the year, which will enable inflation to gain momentum. For the moment, we remain negative at JPY. CAD remains relatively strong. USD/CAD is moving into a long-term upward trend, but the Canadian dollar remains strong. it seems that the NAFTA negotiations will take place without any major turmoil in any of the three countries. Another important factor that supports CAD is the high oil price. For the moment, we remain positive for the Canadian dollar.
Commodities market: GOLD: Despite the rise in the dollar, gold does not seem to rush to fall. 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 decrease in price during the Asian session. Brent crude oil traded with a 0.5% drop at about $ 74.30 a barrel, and WTI was down 0.2 percent at $67.98 a barrel.
European stock market: European indices will start the session positively. The German DAX will open a price increase of around EUR 3,138, a French CAC with a 15 point increase around EUR 5490 and a UKX with a 9 point increase of around 7516 pounds.
American Stock Market: After the next rebound of its 200 periodic indexes, the US indexes resumed their short-term upward trend. The reporting season is still the main engine in the market. For the moment, we see perhaps the best quarter in history that will sooner or later give power to upward movement. The moods around the US economy remain highly positive. With every convenient adjustment, we can look for long positions.
Economic calendar for the European and American trade sessions 30.04.2018
9:00 Germany- Retail sales
11:00 EU - Private sector credits
15:00 Germany- CPI
15:30 USA - Personal consumption expenditures
15:30 Canada - Industrial production
17:00 USA - Pending home sales
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