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24.01 - what will the day bring us?

11.02.2019

 

Yesterday the main event of the day was monetary policy statements and future interest rates for euro. And even though interest rates for the currency were left unchanged, President Christine Lagarde made statements that sounded more dovish than traders would care for. As a result, we see that euro is sold off and is sinking at the 7-week-low point.

 

USD is ticking a little bit higher, which only adds fuel to the fire with euro. Pound and yen on the other hand find power to push back against the greenbacked bully. The situation may get even worse for euro today, as we are waiting for 4 different red-importance reports on the state of European economy. Something tells me that safe havens are going to be in quite a demand today.

 

There are also concerns about China and the newest coronavirus. Measures, taken by Chinese government mean that more than 26 million people are now isolated in their hometowns. It is also very doubtful that the outbreak is not going to influence level of consumption of Chinese products. And we all know what that means – Chinese economy is not yet recovered from the impact of trade war. The more harm to Chinese economy is going to come from the virus, the more difficult it is going to be to recover from all of it.

 

But do not worry – American stock market might become a shelter for all of us seeking safe trading. Numbers there are growing. Tesla and Amazon are providing us with earning possibilities that we so seek.

 

Oil can also be of interest to us. All major commodities, for that matter except for gold may interest us today. Not a bad choice, if you ask me.

 

Here are the numbers for the end of the week:

 

Topix nudged a little bit lower percent.

Kospi lost 0.9 percent.

Shanghai Composite declined 2.75 percent.

Hang Seng from Hong Kong recovered 0.15 percent

S&P 500 are higher by 0.1 percent.

Euro decreased 0.3 percent - $1.1047.

Pound ticked higher - $1.3124.

Yen advanced a bit – 109.51 per dollar.

Canadian dollar added 0.3 percent - $1.3128.

Tesla recovered 0.5 percent - $572.2.

Apple added 0.5 percent - $319.23.

Facebook decreased 0.7 percent – $219.76.

Amazon lost 0.15 percent - $219.76 per share.

Google advanced just a little bit - $1484.58.

WTI advanced 0.2 percent - $55.78 per barrel.

Brent is by 0.2 percent higher - $62.24 per barrel.

Gold declined 0.1 percent - $1560.96 per ounce.

Silver grew 0.1 percent - $17.8 per ounce.

Platinum advanced 0.3 percent – $1007.07.