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21.01 - a closer look at BOJ decision

16.07.2019

 

All attention today is on Asia. But we are not going to discuss trade war now. Today our attention is on Japan, where BOJ decided to keep monetary policy steady as well as increased national economic growth forecast which is a pretty good sign for the economy that teased us with rates being changed for several months now. Surely yen’s status as safe haven as well as overall pessimistic outlook on global economy helped BOJ make the decision.

 

China overall took a turn for the worst as Chinese and Asian shares lost points pretty rapidly. Falls there are very noticeable and very unexpected because just yesterday we saw the region growing and expanding.

 

Europe is also in the middle of it all today as Donald Trump and Emmanuel Macron agreed to hold their tariff war until the end of the year. Evidently, Trump wants to first make sure that he is going to be reelected as President and only after that take drastic steps in his relationship with his strategic partners.

 

Trump also added that his only goal in this situation is “additional Hundreds of Billions of Dollars back to the United States of America! We are now NUMBER ONE in the Universe, by FAR!!”

 

American shares are unchanged due to bank holiday that took place in the USA yesterday. The markets are going to resume their work today. Commodities are mixed with oil slipping and precious metals growing due to safe havens status.

 

Here are the numbers for today:

 

Topix declined 0.5 percent.

Kospi lost 0.95 percent.

Shanghai Composite dropped 1.3 percent.

Hang Seng from Hong Kong decreased as much as 2.5 percent

S&P 500 lost 0.4 percent.

Euro nudged a little bit lower - $1.1096.

Pound grew 0.15 percent - $1.3014.

Yen recovered 0.2 percent – 109.96 per dollar.

Canadian dollar wasn’t changed - $1.306.

Tesla decreased 0.6 percent - $510.5.

Apple added 1.1 percent - $318.73.

Facebook increased 0.2 percent – $222.14.

Amazon lost 0.7 percent - $1864.72 per share.

Google advanced 2 percent - $1479.52.

WTI dropped 0.7 percent - $58.22 per barrel.

Brent is by 0.8 percent lower - $64.62 per barrel.

Gold advanced 0.3 percent - $1566.7 per ounce.

Silver jumped 0.2 percent - $18.1 per ounce.

Platinum added 0.2 percent – $1020.9.