Uncertainty of the markets contributed to the indecisiveness of Asian investors, who are waiting for the Fed meeting and clues regarding the future monetary policy of the United States.
The MSCI index rose slightly higher after its fall during the Asian session, as well as the session on Wall Street. DJIA reached its historic high at the close of the fifth session in a row, and the S & P 500 closed the second session in a row at a record high, as the growth of yield on Treasury bonds contributed to the growth of shares in the financial sector. The Japanese Nikkei index, also following the global positive trend, rose 1.2% at the beginning of trading against a weak yen, as the Tokyo Stock Exchange opened today after a holiday weekend. Continue reading →
Yesterday after the market closed, Apple Inc. published its reports, showing good results. Against this backdrop, shares of technology companies in Asia such as Manufacturing Co and AAC Technologies Holdings Inc, which are Apple’s suppliers, rose in price. Revenue from sales of the iPhone exceeded expectations, as well as earnings per share of the company, and soon there will be 10 anniversary of the release of the smartphone from Apple. The MSCI index was stable at the beginning of trading, and the Nikkei rose 0.4%. On Wall Street, Nasdaq rose 0.23%, Dow Jones closed 0.33% higher yesterday, while the S & P 500 rose 0.24%. Continue reading →
On Tuesday, stocks and indices in Asia rose rapidly: investors are waiting for Yellen’s clues on the future monetary policy of the Fed. Australian stocks fell in price, while Korean and Japanese stocks went up.
The most extensive index of the Asia-Pacific region MSCI rose by several points at the beginning of trading, while the Nikkei rose by 0.1%. The US dollar index is trading at 0.1% higher at around 96,095.
The New Zealand dollar fell in price and traded with negative dynamics after the indicators of the report on public spending disappointed the expectations of the markets. Continue reading →
Another attempt by the Republicans to replace Obamacare failed, which casts doubt on Trump’s ability to carry out the restructuring of the tax system in the United States promised in the election campaign.
This had a negative effect on the dollar exchange rate. The USDAUD pair was trading at the two-year low, and USDCHF at the yearly low. The losses of USDJPY were limited, as the Central Bank of Japan adheres to its large-scale incentive plan, which contributed to a drop in yield. The euro traded steadily at 1.1542 at the beginning of the session: investors are cautious ahead of the ECB monetary policy meeting to be held on Thursday. Continue reading →
On Friday at the beginning of trading, foreign exchange market investors behaved cautiously, as today in the US will come out important inflation indicators.
Probably, these data will set the direction for the US dollar for the near future.
By the end of the trading week, the dollar lost its momentum against major currencies, especially against the yen. The Fed decided to slow down the tightening of monetary policy, although investors were counting on it, and this was what supported the currency. The release of economic indicators in the US, including basic inflation, retail sales and industrial production, will give investors a clearer picture of the Fed’s further actions regarding tightening of monetary policy this year. The dollar index remained at around 95.740, nevertheless, there is a probability of the week’s closing at 0.25% lower. Continue reading →
Shares of Australian companies rose by 1.65%. The increase is quite impressive, if we recall the fall of 2.3% during the previous two sessions. Seoul’s markets were shocked: North Korea tested the intercontinental ballistic missile. The Australian dollar rose 0.1% and traded at $ 0.7666 on the eve of the meeting of the Reserve Bank of Australia. It is expected that the RBA will keep the interest rate unchanged, at 1.5%. The US dollar rose after the June index of activity in the industrial sector came out better than expected. Another positive factor for the US currency is a positive and stable increase in government spending on construction projects in May. Continue reading →
In Asia today, the focus of news from China-recent strict measures taken by the state concerning large banks and private companies to contain risky borrowings abroad, led to riots in the financial sector. The active sale of shares continues, and the head of the Commission on the Regulation of Banking Activities of China Guo Shuking announced his likely resignation. Such a development could lead to a rapid fall in the national currency. Nevertheless, the companies that touched on the above-mentioned events are trying to calm investors by noting that these are only standard procedures, the purpose of which is to ensure the security of the national currency. Continue reading →
Today is a busy day for traders, as important events will occur immediately in the three leading economies of the world.
In Britain today is the day of parliamentary elections: citizens will come to polling stations to cast their vote for a particular political party. The pound sterling rate will react sensitively to the exit poll results and any news regarding the elections. At the moment, the value of the GBP is a potential victory for the Conservatives, and if the election results are different, that is, the Labor Party will win, the pound’s rate will rapidly fall. If the Conservatives do not win a majority, it will be seen as a bearish pound, as the parties will have to form a coalition, which entails additional political risk as uncertainty grows. Continue reading →
The GBPUSD rate fell yesterday despite strong bull attempts to counter this. The pair fell below 1.2800 against the background of the latest results of the YOUGOV poll, which indicates a decline in the popularity of the conservative party. Now they occupy only 16 seats, and it’s not enough for the majority. The results of the surveys may be erroneous, so traders will continue to closely monitor the situation, and the pound rate falls against the background of growing uncertainty in the markets.
Next, we will see key data publications out of Canada and the US.
In Canada, GDP will come out m/m, and this publication can radically change the trend of trading in Canadian markets, given the weakness of the national currency due to the cheapening of oil in recent times. Continue reading →
Last week, trading was fairly dynamic, the dollar recovered and traded in the green zone after the bulls overcame the resistance. On the first day of the new week there will be 3 key data releases in the US, the EU and Canada.
In Canada, there are data of the trade sector, which tends to have a tremendous impact on the value of the national currency: the more the country’s exports, the higher the demand for the currency needed to pay for goods. Conversely, the more a country imports goods, the greater the supply of the national currency, it is necessary to pay for imports. Index of current accounts will reflect the change in the value of imports and exports, therefore, if it comes out higher than expected, the Canadian dollar will grow due to increased demand for the currency. If the report falls below expectations, the Canadian dollar will fall due to the increased supply of currency. Continue reading →