17.02 - not much has changed over the weekend
To our luck, the day ahead is not going to be filled with important meetings and reports. For the first time in a long time we are going to have a day that is not filled with turbulence because of the reports and speeches. That means that we are going to have a rare possibility to see the markets and main assets for they are, without being warped by the reports. The picture we are going to see today is also pretty clean because of the USA being on bank holiday, which means USD is not going to face a lot of changes and that American stocks market is going to remain the same for the next two days.
So, what might we see today? Well, we can see a clean performance from GBP. And believe me, we really need that for our trading. For the last two and a half weeks we couldn’t really focus our attention on GBP, but right now it is the currency that we need to follow. Post-Brexit pound is very vulnerable, which means that British economy is vulnerable as well. And the more we focus on is performance, the more likely it is that we are not going to be jumped by sudden changes in GBP/USD charts, so that is where we need to focus our attention for today.
Surely, that doesn’t mean that we have to lose track of Chinese and Asian economies, where coronavirus is still ruling the trends and giving us the scare. Right now the performance of Asian markets is more or less steady, even though we are still dealing with the virus. Chinese numbers are trying to recover while Japanese indices are where we can really see the influence of the crisis situation. Japan is really risking going into recession at the moment – so serious is the influence of the virus on its economy.
So, what have we learned from all this? That the situation in the world hasn’t really changed all the much during the weekend. Surely, there is not much that can happen over the weekend, when the markets are closed, but we are still hoping Every Friday we are hoping that overnight the situation is going to change and we are going to wake up to the growing and completely recovered markets. Will that ever happen? Well, we can all dream, right?
Here are the changes for the day:
Topix declined 0.75 percent.
Kospi added 0.1 percent.
Shanghai Composite increased 1.9 percent.
Hang Seng from Hong Kong recovered 0.7 percent
S&P 500 futures added 0.2 percent.
Euro was barely moved- $1.084.
Pound recovered 0.1 percent - $1.3048.
Yen was flat – 109.84 per dollar.
Canadian dollar increased by 0.1 percent - $1.3234.
Tesla dropped 0.5 percent - $800.03.
Apple wasn’t changed much - $324.95.
Facebook advanced 0.5 percent – $214.18.
Amazon dropped 0.7 percent – $2134.87 per share.
Google recovered 0.35 percent - $1518.73.
WTI lost 0.1 - $52.14 per barrel.
Brent decreased 0.1 percent - $57.3 per barrel.
Gold dropped 0.1 percent - $1582.2 per ounce.
Silver added 0.75 percent - $17.86 per ounce.
Platinum grew 0.4– $969.1.
Palladium surged 0.6 percent - $2445.05 per ounce.