Varchev Finance - Trading day in one post 30.07.2018

Asian Stock Market: Asian shares declined before central bank meetings following the Wall Street drop. The Nikkei 225 declined by 0.57%, with the decline in utilities, energy and pharmaceutical stocks on the index. Wider Topix traded 0.29% lower. Kospi suffered bigger losses. The index is traded lower by 0.04% for the loss of big names such as Samsung, which declined by 0.75% and SK Hynix by 0.12%.

FX market: Central banks are in focus this week. BoJ, which ends a two-day meeting Tuesday, the Fed on Wednesday, and the BoE also decides on Thursday. The dollar against a basket of six currencies remained slightly above 94,662 after falling on Friday. US GDP data failed to raise the dollar as markets were at high levels. The US currency was 0.05% lower at 110.970 yen, after a loss of about 0.2% on Friday. The euro appreciated by 0.05% to 1.1659, increasing its modest gains on Friday. The pound is almost fixed at 1.3110. Sterling published its third weekly loss, affected by the progress of the Brexit talks. GBP will look for some relief on Thursday when BoE is expected to raise interest rates to 0.75%. AUD dropped to 0.7398 by reducing its Friday earnings against the declining dollar.

Commodities market: The US benchmark WTI rose after a four-week drop, while Brent started the week at lower levels after the trend of commercial tensions in the markets subsided. WTI futures rose 15 cents or 0.2 per cent to 68.84 dollars a barrel. Brent's futures fell 5 cents to $ 74.24 a barrel.

European stock market: Core indices are expected to open from lower levels today. DAX-12785.8, UKX-7659.8, CAC-5474.3. No major economic events are expected, and investors are cautious, waiting for Central bank statements later this week.

US Stock market: Futures US indices trade in declines in anticipation of the Fed. Investors will expect indications of rising interest rates, although Trump has announced its dissatisfaction with the rapid move of the Fed's tightening policy. Markets will mainly be rolled out by central banks during the week.

Economic Calendar for the American and European Stock Sessions:

11:30 UK - BoE Consumer Credit

12:00 Europe - Business Climate

15:00 Germany - CPI

17:00 USA - Pending Home Sales

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