Trading Market Commentary July 26, 2017


US stock market enjoyed an impressive start with the DowJones up more than 100 points and setting additional closing record levels. But it was all about the Federal Reserve which kept interest rates unchanged (as forecasted) although it offered many directions to winding down their accumulated assets. The unwinding of the portfolio Fed will begin “relatively soon” with many traders and investors expecting a start this current year. 

US Market 

All the main Indexes retreated from the day's trading highs however they remained robust. The sentiment is efficacious since the earnings numbers have already been supporting the historical closing levels. However, many continue to feel the market industry is stretched.

US stock market ended higher on Wednesday's trading session, with leaping shares of Boeing Co. delivering the DowJones Industrial to a new record high. The three equity Indexes finished at all-time highs, with the DowJones finding it self up 97 points (0.5%), closing at 21,711, the NASDAQ Composite upward of 0.2% at 6,422, and the S&P500 index was even at 2,477.

European Markets

The market has been more robust as Eurozone session opened, even so, the United Kingdom definitely helped right after its release of Q2 growth data at 0.3%, hot on the heels of the 0.2% Q1 figure. 

The FTSE100 struck more intraday closing record with the gain of 0.24%, with the Pound currency retaining its recent highs. It's going to be very interesting to check out the next few weeks/months the end numbers for these as we are very much in the vicinity of choosing Bullish Reversals.

Spanish IBEX35, German DAX30, as well as French CAC40 all,  closed up around 0.5% firmer on the session. However, even though as the market looks at the returning of Greek bonds BREXIT is the one that is providing the majority of the hot specifics. 

Asia-Pacific Market

The Asia-Pacific market closed vastly positive following an American and European new market records. The strength has changed the Nikkei225 trend by adding 0.5% as well as having Japanese automakers benefiting as European competitors have problems with harmful events, and also because better than anticipated results from Mitsubishi Motors made it easier for the Index upward move.

In Chinese markets, the Shanghai Index pick up 0.12% gain, and HK's Hang Seng added 0.35%. Aussie's inflation figures released are slightly behind targets at 1.9% which in turn dragged Aussie currency into a loss of 0.5%. 

Other Markets

The US Dollar received additional strain from the Euro Dollar in US trading session on Wednesday with Euro busting through the 1.17  level the very first time since the month of August 2015. The Japanese Yen gain ground and in the latter part of trading took the Yen back over the 112 handle. 

Yellow metal peaked close to $1,262 per ounce in the US regular trading session, despite the fact that overall price movements were constrained by underlying US Dollar lack of strength which continued to cap selling enthusiasm.

Oil futures contracts went up on Wednesday trading session to its best level in nearly a couple of months. September WTI (West Texas Intermediate) crude oil contract rose 86 cents (1.8%), to settle at $48.75 a barrel on the NYMEX (New York Mercantile Exchange).

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