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2.09 - markets and EUR/USD are testing our patience today

By the numbers and movements that we see today it is easy to see – we are not going to have an easy week. We are going to see turbulence and a lot of unnecessary changes through the week and we are going to suffer because of it. At least this is the impression that I am getting from the growth and falls that mark the beginning of this trading week.


11.03.2019

 

By the numbers and movements that we see today it is easy to see – we are not going to have an easy week. We are going to see turbulence and a lot of unnecessary changes through the week and we are going to suffer because of it. At least this is the impression that I am getting from the growth and falls that mark the beginning of this trading week.

Dollar is steady as the new trade tariffs kick in. We were hoping to see more stability in Asian markets as the new tariffs arrive but the picture we are getting is just as good. There are no rapid falls and changes apart from a couple of major names. And that is one of the best scenarios that we could have got, given the circumstance. Of course the growing greenback is getting more attention as it goes and it is totally possible that we are going to see more and more of the losses in the nearest future. It is already pushing on euro as European currency is standing on a multi-year low point today. 

American stock market is also attracting our attention. Today we can see mixed performance there but we hope that the situation is going to improve. Although is the improvement really needed? Dow Jones is getting bullish as it is, and if we are going to see more and more growth from the stocks there we are going to have a very buffed segment of the market. Is that something we really need today? That is something to think about.

Commodities are also giving us mixed signals. While oil started to lose per-barrel price, gold and other precious metals keep on with the bullish trend assumed by them last week. Will they hold up or will they fall and crumble under the pressure from the growing dollar? That we are going to have to see as well.

Here are the numbers for the beginning of the week.

Topix dropped 0.4 percent.

Kospi advanced 0.1 percent.

Shanghai Composite increased 1.3 percent.

Hang Seng from Hong Kong decreased 0.6 percent.

S&P 500 futures lost 0.4 percent.

MSCI Asia Pacific dropped 0.2 percent.

Dollar was barely changed against the basket of six major currencies.

Euro added 0.1 percent - $1.099.

Pound barely changed - $1.2161.

Yen is at 106.16 per dollar point after having risen 0.1 percent.

Apple lost 0.1 percent - $208.74.

Facebook was flat – $185.67.

Amazon dropped 0.6 percent - $1776.29 per share.

Tesla declined 1.8 percent - $225.61.

Google shares decreased 0.3 percent - $1190.53.

WTI was barely changed - $55.09 per barrel.

Brent lost 0.5 percent - $58.98 per barrel.

Gold added 0.3 percent - $1534 per ounce.

Silver improved its positions by 0.6 percent - $18.45 per ounce.

Platinum grew 0.5 percent – $938.14.