Economic mirror of the day, comments

Economic mirror of the day


The dollar exchange rate for April 18, 2017: on the eve of the Easter holiday on the "Forex" there was a fall in the American currency. Such a reaction of the dollar was on the statements of Donald Trump.
The President of America said that the dollar's exchange rate is too strong, because soon there may be negative consequences. According to the leader of the country, it is difficult to compete with such a strong currency, and the currencies of other countries are devalued.
When there were speculations, supposedly Donald Trump benefits from a strengthened dollar, he publicly said that the currency is too strong and it needs to be weakened. The President noted that the high exchange rate makes the country less competitive. After this statement, the pressure on the dollar was increased.
The dollar vis-à-vis the yen demonstrated the lowest level of the last five months. Since the beginning of the week, the currency has become cheaper by 1.8%. In addition, the dollar dynamics was affected by the increased geopolitical tensions. The price of the euro to the dollar was 1.0669 dollars. In relation to the basket of major currencies, the dollar index dropped to 100.100 points (-0.6%).
Now on the "Forex" the dollar trades to the euro at the level of 1.0623 dollars, and to the yen continues to get cheaper. Most likely, it will continue to fall against the backdrop of the tax period and the consolidation of mineral extraction tax and profit tax.

Oil of reference marks became cheaper yesterday on fears of increasing production in the US, where the number of operating rigs rose to a record since April 2015, 683 units last week.
Following the auction on April 17, the value of the June contract for Brent crude on the ICE Futures exchange in London fell by $ 0.53 (0.95%) to $ 55.36 per barrel.
May futures on WTI on the New York Mercantile Exchange NYMEX lost $ 0.53 (1%) - and amounted to $ 52.65 barrel.
Today, oil is stable. June futures for Brent crude on the London Stock Exchange increased by 4 cents (0.07%) to $ 55.40 per barrel.

Aluminum rises at the fastest pace in six months in the electronic trading system on the London Metal Exchange (LME), as the Chinese authorities decided to suspend some aluminum projects.
At LME, the price of aluminum for delivery in three months increased by 2.6% - to $ 1958.50 per ton. Meanwhile, at the Shanghai Futures Exchange, the metal played a morning decline and went up by 0.1% - to 14555 yuan ($ 2116) per ton, updating the 4-year maximum reached on Monday, AP writes.
According to the Chinese newspaper China Securities Times, the PRC authorities suspended 3 new aluminum smelters in Xinjiang province in the west of the country due to violation of the rules of 2015 aimed at limiting production capacity and consumption of electricity, as well as improving the environmental situation. The total capacity of these plants is 2 million tons.

In March, gold imports to India amounted to almost $ 4.178 billion, according to the Ministry of Commerce and Industry of the country. This is 4.3 times more than for the same month of the previous year.
In total for the first quarter, according to calculations, gold supplies to India increased by 83% compared to the same period in 2016 and amounted to $ 9.699 billion.
India has long been the largest consumer of gold in the world, practically not producing it itself. However, since 2013, India is fighting with China for the championship in this indicator.

As a result of yesterday's trading, US stock indices rose after a decline in the previous three sessions, according to MarketWatch.

The Dow Jones Industrial Average rose 0.9% to 20636.92 points by the close of the market. Standard & Poor's 500 increased by 0.9%, reaching 2349.01 points. The Nasdaq Composite index also increased by 0.9% to 5856.79 points.
Among the companies of the Dow Jones Industrial Average, Boeing (+ 1.9%), JPMorgan Chase (+ 1.7%), Nike (+ 1.6%), Goldman Sachs (+ 1.3%); Among the companies Nasdaq - Nvidia (3.92%) and Amazon.com Inc. (+ 1.96%).
Indicators of all 11 major industry groups of the S & P 500 index rose on the basis of trading, the most significant increase was shown by subindexes of financial and industrial companies, as well as representatives of real estate.
The attention of traders is directed to the beginning season of corporate reporting for the 1 st quarter of 2017. In addition, markets continue to focus on geopolitical factors, including the situation around North Korea, Afghanistan and Turkey.
"These factors may not be the main focus for investors, but they distract the administration of US President Donald Trump from domestic policy, which means further postponement of a number of initiatives, including tax reform, which may bother Wall Street ", Notes portfolio manager Kingsview Asset Managemen Paul Nolte.
Shares of United Continental Holdings Inc. On the basis of trading on Monday, went up by 2.46%. Already after the closure of the session, the airline published its statements for the previous quarter: its earnings per share excluding one-time factors exceeded forecasts, revenue coincided with expectations. In the course of additional trades, securities of the company increased in price by 0.7%.
The cost of shares in the video broadcasting service Netflix Inc., which also published quarterly results after the market close on Monday, climbed 3% and added 1.4% during additional trading.
Netflix reported an increase in the number of subscribers in the first quarter, but the growth rate slowed and fell short of market expectations. The company, however, informed shareholders that the number of subscribers could exceed 100 million as early as this week.
The share price of MoneyGram International jumped 7.8%. On Monday, the Chinese company Ant Financial, the financial arm of the Internet giant Alibaba, has improved the offer to purchase the American money transfer service MoneyGram from $ 880 million to $ 1.2 billion. Ant Financial is ready to pay $ 18 per share of MoneyGram, which is higher than the offer of competitor Euronet, In the $ 15.2. Ant's original proposal was to pay $ 13.25 per share. At the close of trading on Friday, MoneyGram quotes were $ 16.51.