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- Varchev Finance: Trading day in one post – 08.11.2017
Varchev Finance: Trading day in one post - 08.11.2017
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Loading...Asian trade session: Asian markets were trading mixed, reflecting mixed trade data from China and Trump's new challenges to North Korea. Japan Nikkei 225 lost 0.27% of its value after yesterday reached a 26-year high. Kospi climbed 0.11 percent, and the main engine of growth was technology shares. ASX200 posted an increase of 0.09%, with mining companies registering growth. Markets in China were up for promotion, with Hang Seng rising by 0.30%, Shanghai Composite rising 0.54%, and Shenzhen + 0.685%.
Currency market: USD is traded slightly downwards, reflecting the uncertainty surrounding Trump tax reform. Against the backdrop of mixed sentiment on the stock market, JPY posted a 0.16% growth. NZD and AUD rose 0.15%, taking into account the growth of Chinese exports. GBP is traded largely unchanged due to the lack of important economic news from the island. Investors remain alert for details of Brexit, and earlier yesterday it became clear that more than 50 banks are considering relocating their offices in Continental Europe, and this is more than indicative of the moods of City Of London.
Commodity market: Oil declines after API preliminary US oil inventories showed an increase. WTI traded 0.40% lower at a price of about $56.8 a barrel and Brent around $63.54. WTI has managed to break through the key levels of resistance, and the current adjustment will be appropriate for long positions. Given the mixed sentiment of the stock market and the new threats of Trump to North Korea, Gold has been on the rise during the Asian session. The metal is at key levels of support after correction, and long positions at current levels give us a good risk/return ratio.
European stock market: European markets are expected to open down, reflecting the mixed sentiment in Asia and the US, as well as New Trump new threats to North Korea. DAX30 is expected to start trading with a drop of around 13,357 or 10 points lower. The French CAC40 will open at a break of 10 points down to 5457 and the British UKX will start trading 5 points lower at 7504. Today, during the European Stock Exchange, no major news is expected from Europe, and so there is a lot we may be seeing profits from European markets.
US trade session: The US Session closed trading with mixed moods, with the Dow Jones continuing its record-breaking move, while the financial sector fall and erase some of S&P500 market cap. The technology sector also fell, with the Nasdaq stepping down from a record high. Shares in the financial sector fell in anticipation of details of Republican plans to cut taxes in the country. The S&P 500 recorded a decrease of 0.02% to 2590.64 points. Meanwhile, Dow Jones reported an increase of 0.04%, but that was enough for the index to reach the historic 23 557.23 points. For Nasdaq, the session ended at 6,767.78 points, down 0.27%.
Economic Calendar for European and US trade sessions - 8.11.2017
09:45 France - Trade Balance
15:15 Canada - Buildings permits
15:15 Canada - Housing starts
17:30 US - Crude oil inventories
22:00 New Zealand - Interest Rate decision
22:00 New Zealand - Report on RBNZ decision on the interest rate
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