Trading Market Commentary July 27, 2017

Commentary

Around the economic forefront, the Commerce Dept unveiled a report ahead of the beginning of US trading session showing a considerable increase in Durable Goods Orders for the month of June 2017.

The US Commerce Dept stated that Durable Goods Orders rose by 6.5% in June following moving down by an adjustment of 0.1% in May. Economic experts had anticipated Durable Goods Orders to spike upward by 3.0% in comparison to the 1.1% fall initially reported for the preceding month.

In the different report from the Labor Division revealed that the initial Jobless Claims increased by a lot more than anticipated for the week ended of the July 22-nd. 

US Market  

As the Fed (Federal Reserve) revealed an additional round of purchasing in US risk assets, we were treated to much the same Wall Street opening to the one we witnessed earlier from Europe moving equities up to fresh all-time highs once more. Not surprisingly, the mixed earnings reports furthermore had a modest factor with the overall performance of the core Indexes.

Right after a first move to the upside, the market turned sharply downward pulling the NASDAQ as well as the S&P500 lower as soon as they climbed to record intraday highs, and then reversed it self to the upside once again in the trading session on Thursday. This demonstrated that many traders took the opportunity to profit from a number of the recent robustness in the markets,

The DowJones rose to a fresh record closing higher level by increasing 85.54 points (0.4%) to 21,796.55, however the NASDAQ dropped 40.56 points (0.6%) to 6,382.19, and the S&P 500 surrounded 2.41 points (0.1%) to 2,475.42.

European Markets

Eurozone stock market tried a positive opening, as seeing most of Asia-Pacific region recover towards the end of the session, however, unfortunately, that was to be the only temporary situation. 

European traders and investors weren't so pleased with the dovish Fed announcement as well, as the Euro Stoxx50 and also the DAX30 both drove to the down side on Thursday with the recovered robustness of the Euro Dollar. While the German DAX30 Index decreased by 0.8%, the UK's FTSE100 and French CAC40 Index both surrounded 0.1% each.

Asia-Pacific Market

Stock markets across the Asia-Pacific region migrated mostly higher throughout trading on Thursday, with the Nikkei225  had been able to reverse the most of the day's down trend by having a final positive close. It wasn't that great (+0.15%) however a favorable close none the less, as the Yen currency traded just below the 112 handle, this aided the advance at the end.

Shanghai Index came across a similar overall performance to Nikkei with a modest +0.05% close. HK's Hang Seng Index again was more active performer finishing up slightly over+0.75%. Aussie ASX200 likewise closed somewhat better as reports indicated that corporate (Industrials) continue to keep pushing ahead of expectations in China and therefore aiding the outlook for the big exporter.

Currency Market

Traders have seen the Swissy (USDCHF) trade back to 2015 lows levels as talk surrounds moving from the regional currency in favor of the US Dollar. Meanwhile, the USD reversed its negative move on Thursday's trading with substantial losses seen to the Cable (GBPUSD), Aussie (AUDUSD), Kiwi (NZDUSD), Loonie (USDCAD) and the other main currencies.


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