Trading Market Commentary May 20, 2017

Commentary

US markets leaped higher right after a first break, and so they were trading close to closing prices on Friday. The main indices continue to be well under their previous highs, along with volatility which is a lot higher as opposed to the new norm.

The DXY continues to be the main loser since interest rate increase likelihood had taken a nosedive, as well as the President’s Trump some economic foreseeable future policies, are in doubt as well. The relationship between the primary exchanges is certainly lively since Wednesday’s sell-off, and this was in fact anticipated since options expiration.

The DAX30 continues to be following a US indices much lower this week since the Trump Tax Plan Proposal is nowhere to be seen. The Germany's benchmark is eradicating its overbought overall condition which surfaced after the French election move, even though the strength of the EuroDollar is somewhat hurting European securities. The significant support level around 12,575 halted Wednesday’s decline, so the DAX30 bounced above the 12,600 range Friday. However, it is nonetheless short of the prior highs in the vicinity of 12,800.

The EuroDollar is continuously making new 7-month highs versus the under pressure US Dollar. Additional European major currencies also are rallying, along with the British Pound climbing back over the vital 1.30 amount.

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