Market Commentary February 19

The Trading Daily Market Commentary features a summary of selected market segments as well as economic matters. Its content of interest is made available to all traders and investors at large

The stock market(s) were closed in America yesterday for the President’s day holiday formally known as the George Washington’s birthday. 

Asian stocks bounced yesterday at the idea of progress with the America-China trade tariff talks. The story on the weekend, of course, supporting when both China's President Xi and U.S. President Trump and showing pleasure concerning the progress using statements such as “win-win” and “productive.”

The Japan Nikkei and H.K. Hang Seng indices both rallied circa 1.8 percent yesterday. But it was the core Shanghai composite index which was the solid performer for the session launching 2.64 percent on the day.

The currencies especially had little impact yesterday with most Foreign Exchange trading was gained against the US Dollar. The Japan currency Yen was at up 0.14 percent, and the US Dollar to China Yuan Renminbi was up very small.

The main economic story came out of Rising Sun, with the focus on machinery orders Year on Year comprising 0.9 percent way-off expectations of 4.8 percent. Singapore, non-oil exports were down 10 percent Year on Year!

The sector is down 5.70 percent for January itself, however, with China holding the New Year some slack should be required, however, not at 5.70 percent. The original forecast was for the month to increase by 2.60 percent. Significant trade balance figures for the entire region is 2.41 Billion.

European Market

On the European market scene, the German and U.K. stock indices fell yesterday. However, it was a relatively triumphant day for the Eurozone region as a whole; nonetheless, the French CAC40 index gained 1.9 percent yesterday, this brings it 30-day rolling yield to 6.11 percent, the best acting primary European stock index thus far. 

Just the Swedish stocks delivered equally to the French CAC performance. Apart from the Russian MOEX stocks, the best acting indices Year on Year has been the Swiss market, bestowing investors are exploring more stable investments in the European region.

There has been a broad territory between the results of Eurozone indices with for example the German DAX30 index losing 8.81 percent and the Netherlands AEX index gaining 2.06 percent. Something we will be watching to whether it will be the AEX or the DAX indices converging to either direction.

The currencies pushed in favor of the Eurozone currencies, as the US Dollar versus Euro-Dollar pair rose 0.14 percent to close 1.1311 and the British Sterling rose o.27 percent to finished at 1.2925. 

Haven currency Gold moved up 0.37 percent to close at 1,326 and Silver increased to 15.81. The Gold to Silver ratio presently is at  83.77, just beneath the previous three months high level of 86.51 which is the highest it has been ever since the early nineties. The all-time grand high stands at 100.28 establish many moons ago -  in 1991.


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