Trading Market Commentary August 1, 2017

Commentary

A next few days will unravel job data starting Wednesday through Friday; we should receive a better sauce to push this rally far more to the upside. It's well known that the Fed continues pumping up the H.6 money stock market these days at a 9.5% annualized rate (See Table 2 here). Most of this and perhaps a whole lot more continues to be “leaking into the market” simply because there is hardly anything else that is attractive. 

US Market 

Having another trading day in the bag, which we can also register an additional new all-time high for the DowJones Index which has been outperforming all the other main Indexes lately. While the US Dollar continues to be under pressure, the export-heavy index naturally goes higher, as the downward yield constraints also assist the mammoth of the stock market. The S&P500 and NASDAQ remain behind the Dow index. However, they are still just around the corner with their own all-time highs.

Much of the chat in US market hours has been about the odds of ending on top of the psychological 22,000 level. As number one stage Index came up within inches of breaking the historical record price nevertheless ended up being denied the glory by closing. However, it did make the 22,000 in overnight market (See TSS Live Signal - Swing Trade table).

European Markets

Eurozone dismissed much of the American politics performing much more to bullish vibe following-on from Asian markets. Volumes ended up a bit light for the familiar month of August trading, and also Switzerland was in fact on a national holiday Tuesday. 

The earliest move has been supported quickly when a favorable news spin was given to some economic data. The European PMI unveiled at 56.6 for the month of July, a lesser amount than the 57.4 published in the month June nevertheless thought of any number higher than 50 is treated as expansion.

The FTSE100, CAC40, and IBEX35 were all approximately plus 0.7% higher on the session with a wide-ranging based rally assisting virtually all sectors. The DAX30 finished upwards over 1.1% on a day as the Euro Dollar ultimately finished little lower but in a tight price range.

Asia-Pacific Market

A good all round trading session day for Asia-Pacific region with gains for all the key market segments of between plus 0.3% in the Nikkei225 and 0.9% for the Aussie ASX200. All market sectors resulted in the wide-ranging results without single region taking part in a dominating position. In China, we were treated to much better than anticipated PMI number which presented the boast numerous markets were hoping to find. 

As the Aussie central bank gave a reminder to markets that it does not exactly like the appreciating rising trend of the AUD currency, which lately capped at 0.80 versus the US Dollar, by leaving interest rate unchanged at 1.5%. 

The HK's Hang Seng finished up 0.8% with Industrials, Property, and Insurance at the forefront. The late news reports from the good old USA affected initially on the market although was quickly pasted over when aggressive buying push caught-hold.

Other Markets

Yellow metal continued to go up in the course of the uncertain economic news reports. Crude oil became volatile near the vital $50 per barrel price level. However, it continues to be in an uptrend at this point, even though the upper perimeter of the commodities dominant trading price range is very close now, leading to a probable reversal. 

The British Pound was the most efficient key fiat currency on Tuesday when it got a bump up from the much better than anticipated manufacturing Purchasing Managers Index (PMI) just before Thursday’s BOE (Bank of England) meeting. The Japanese Yen hasn't moved very much in the week nonetheless oddly enough remains trading in the middle of 110 area. Bitcoins currency made the high of $2,925 on Tuesday paper dollars that are, and targeted price of $3,000 by eclipse time should be interesting indeed.


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