Varchev Finance: Trading day in one post 30.08.2018

Asian stock market: Asian markets were mostly positive territory on Thursday morning after Wallstreet again reached new record levels and Canada rejoined North African Free Trade Agreement negotiations (NAFTA). The Japanese Nikkei 225 is trading at a 0.75% rise, supported by a weak JPY, in Australia ASX rose 0.17%, mostly drawn mostly by the telecommunications sector, Hang Seng rose 0.12% in Hong Kong and Shanghai Composite added 0.13%.

FX market: GBP is at the center of events and this is likely to continue through the European and American trading sessions. Michel Barnie's comments from yesterday led to a strong impulse. During the Asian hours, the pounds of the pounds did not make a correction, as traders would hope for it at the start of European markets. In the past session, data from New Zealand and Australia sent the kiwi and the Australian dollar to a negative territory. However, expectations for a NAFTA agreement between Canada and the United States can restore confidence in the two risky currencies. CAD remains strongly supported by the same expectations and stable oil prices. Later in the US session, we will focus on Canada's GDP data, when better data than expected could lead to a new sharp appreciation of the Canadian dollar. TRY increases its decline, with the prospect of continuing to deepen. The new higher tops and bottoms at USDTRY and EURTRY create expectations for new declines today.

Commodities market: Today's raw materials market will be crude oil. Despite seasonally low volumes, we can expect traders to trade expectations for the NAFTA agreement and send the price of black gold to a new high. GOLD now finds it under his feet after a long descending term, and the 1200 level seems to hold for now. Right now, the price is suitable for long positions.

European stock market: Today European indexes are likely to continue the positivism of the Asian hours and we can expect new upward movements. We can expect some UKX adjustment due to the strong pound, but on the other hand the index has a large exposure to oil companies, which will push the price up. At 10:55 Germany's unemployment figures may have some impact on the price of the indexes, but this is likely to be short-lived, and for now the expectations remain for a new positivism.

US stock market: US markets continue to mark new peak, which is mainly due to FOMO effect (fear of missing out), but sooner or later there will be a correction that will give us a better price for new long positions. Concentration remains above technological shares, and it is good to look for shares of the energy sector too.

Economic calendar

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