Trading Market Commentary August 16 2017


Global stocks markets were on the Green side Wednesday, as traders and investors looked forward to the Fed (Federal Reserve) meeting minutes which has been released yesterday after noon. The more severe than anticipated US housing market stats were not enough to snap the rebound in equities as well as the US Dollar, as the relieving of the North Korea relevant worries aided risk assets all around. 

The news is that super Mario (Mario Draghi) is going to be absent from up coming week’s Jackson Hole monetary symposium based on the ECB’s (European Central Bank) statement coming on Wednesday morning press release. So, Euro Dollar was given big sell following the news, underlining the unbelievable dependence on the global markets to central banksters.

American Market

US stock market went up on Wednesday, with the DowJones (DJ) being up for the fourth day. The DJ Average Index rose 25.88 points, (0.1%), to end at 22,024.87 in spite of political turmoil in Washington DC swamp and the disintegration with the Manufacturing Council and the presidential Strategy & Policy Forum. 

The heavy technology Index recovered following previous week’s short volatility rise, and as calm summer season trading started again, the Index appears to be back on track to check out the prior high levels. The 6000 handle still is coming up as critical resistance, while the benchmark average is moving all around the 5900 tier ever since late July of this year. The Index went up 12.10 points, (0.2%), to finish at 6,345.11. The S&P500 increased by 3.5 points, (0.1%), to seal comfortably at 2,468.11, as energy equities nose dived on weak crude oil prices.

European Markets

Eurozone stock markets are increasingly being assisted by the single currency (Euro Dollar) lack of strength, as they extended yesterday’s rally. Eurozone equities went up by for a 3rd day straight on Wednesday as the US Dollar kept relatively stable on Federal Reserve interest rate hike anticipations. News reports estimates from Euro-stat revealed euro zone economic climate has grown as initially estimated for the second quarter.

The France's CAC40 benchmark was rallying 1% on yesterday's trading session, as the German DAX30 was going up the 0.8%, the pan-Euro Stoxx 600 benchmark was up 0.7% at 378.93,  and the U.K.'s FTSE100 did rose 0.6%. 

Asia-Pacific Market

Asian-Pacific stock markets finished mixed on Wednesday as underlying sentiment become cautious in the aftermath of expectation for a December of 2017 interest rate hike, and the Fed's and the IMF's (International Monetary Fund) forewarning that China's credit growth happens to be drifting into "dangerous trajectory."

China's Shanghai Composite benchmark has fallen 4.81 points (0.15%) to 3,246.55. HK's Hang Seng index rose 234 points (0.86%) at 27,409 in the later part of the trading session. Japanese stocks ended marginally lower, pulled down mainly by automakers. The Nikkei225 average fell  24.03 points (0.12%) to 19,729.28 as the broader Topix benchmark ended small down at 1,616. Meanwhile, The Aussie's benchmark ASX 200 increased 27.60 points (0.48%) to 5,785. 

Currency, Commodities, Crypto-Segment Markets

The British Pound (GBPUSD) finally is demonstrating some relative durability, as the bullish UK's Employment Report aided the currency to move moderately higher, regardless of the chronic BREXIT concerns as well as the latest weakness in economic climate numbers.

Commodities have been little changed throughout yesterday’s very low volatility trading, with Yellow metal settled above to the $1283 level, BTW we are going short for short-medium time frame trade at $1290. Crude oil was trading around $47.50 per barrel following the loss of the past several trading sessions with the mixed American production and inventory statistics triggering some volatility. 

Dash had been creating headlines yesterday within the crypto-segment market, as the crypto coin is trading close to its all-time high price in the midst of the correction within the high-flying BTC (Bitcoin). Bitcoin isn't far off its latest high levels, in spite of extremely overbought momentum, given that the euphoric sentiment consistently on the fuel buying frenzy following the constructive fundamental developments of the past several weeks.

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