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- Varchev Finance: Trading day in one post – 31.07.2018
Varchev Finance: Trading day in one post - 31.07.2018
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Loading...Asian Stock Market - Asian markets were trading mixed, expecting Bank Of Japan's decision on the country's basic interest rate and monetary policy. Mixed moods were the result of the downsizing of technology companies in the US during the US session yesterday. The Nikkei 225 fell 0.41 percent, following BOJ's decision, which sent the banking sector nearly 3 percent lower. The market reaction is indicative of what BOJ is about to do, as the banking sector is directly dependent and offended by low interest rates. Meanwhile, Kospi recorded a slight increase of 0.04%, despite the worse Samsung report. ASX200 in Australia traded slightly higher, while in China Hang Seng dropped 0.44% and Shanghai composite by 0.45%.
FX Market - JPY and CAD were in focus today for investors today, with both currencies heading to new bottoms. Just minutes ago, US officials undertook the "extremely unusual" step to reject Canada's candidacy for talks between the US and Mexico at a high level later this week. USD / CAD - Daily, it looks like it will stay in the upward trend channel, reversing from a key support zone. NFP data for the week as well as Canada's GDP today will prove crucial for the pair's future development. The JPY collapsed by more than 50 pips in minutes after BOJ confirmed the soft monetary policy aimed at lowering the value of JPY. Today we expect GDP data from the Eurozone as well as from Canada. The euro will remain on the side today, but CAD will enjoy extreme caution, especially when we expect GDP figures, and a few minutes ago the country was kicked out of NAFTA trade talks.
Commodities market - The American benchmark WTI climbed after a four-week drop, while Brent started the week at lower levels after the trend of commercial tensions in the markets subsided. WTI's futures rose 15 cents or 0.2 per cent to 69.84 dollars a barrel. Brent's futures fell 5 cents to 75.15 dollars a barrel.
European stock market - European markets are expected to start with slight increases despite losses during the Asian session and those in the US yesterday. DAX-12 800, UKX-7693, CAC-5480. Today we expect the euro area GDP data, and we expect to see only higher volatility, both in the euro and in the European indexes. Better data would rather have a positive impact on the EUR than on the indexes, as the ECB is currently looking for and collecting positive from the European economy in order to tighten monetary policy.
US Stock Market - Nasdaq declined 1.4% to a level of 7630.00 points after shares of Facebook and Netflix fell by 2.1% and 5.6%, respectively. Amazon shares fell 2.2 percent and Alphabet lost 1.8 percent. Nasdaq recorded a three-day drop of 3.86%, which was the biggest since the end of March, when it dropped 5.12% in just three consecutive sessions. The S & P 500 fell 0.6 percent to 2802.60 points, with the technology sector dropping 1.7 percent. Dow Jones wiped 143 points after the collapse of Visa and American Express.
Economic Calendar for European and US Trading Sessions - 31.07.2018
09:00 Germany - Retail Sales
10:55 Germany - Unemployment rate
12:00 Eurozone - CPI
12:00 Eurozone - GDP
12:00 Eurozone - Unemployment rate
15:30 Canada - GDP
17:00 USA - Consumer Confidence
23:30 US - API Crude oil inventories
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