Trading Market Commentary July 7, 2017

Commentary

The mixed US Non-Farm Payroll report on its own has been not enough to obfuscate the minds of traders/investors, as volatility improved substantially after the release. US Stocks were higher following an adverse overnight trading session. However the gains were just minimal, and the short-term trend continues to be unfavorable in the US and the Eurozone. 

The financial marketplace was all over the place on the trading on Friday, as some important events shook up the equilibrium in, commodities, currencies and stock market alike.

US Market 

Following demonstrating a substantial turn to the downside on Thursday US stock market got back some ground during trading on Friday. The recovery on Wall Street emerged after the release of a Non-Farm Payroll (NFP) report from the Labor Department featuring much more resilient than anticipated job increase in the NFP for the month of June. 

The S&P500, DowJones and the NASDAQ rebounded immediately after Thursday's trading at their lowest finishing ranges in over a month. The S&P500 jumped 15.43 points (0.6%) to 2,425.18, DowJones soared 94.30 points (0.4%) to 21,414.34, and the NASDAQ  leaped 63.61 points (0.1%) to 6,153.08. 

European Markets 

The European countries looked at G20 summit got underway, as Putin and Trump meet and all of before the monthly release of the US Non-Farm Payroll. These headlines did trigger many nervous trades.  

The key Euro market segments completed a mixed overall performance on the day. As the DAX30 Index finished just underneath the fixed price line, the CAC40 Index dropped by 0.3%, and the FTSE100 Index edged up by 0.1%.

Asia-Pacific Markets 

The Shanghai Index has handled a positive close at plus 0.17%, however, not so good for the Hang Seng Index that finished minus 0.5%. Following trading hours China unveiled FR (Foreign Reserves) that had been slightly better than anticipated at $3.057 trillion for the month of June growth of just $3 Billion. In Japan, the BOJ (Bank of Japan) was rumored to stay in activity aiding 5 - 10-year JGB’s (Japanese Government Bond) even as we have witnessed the bond markets globally falling this past week.

The Nikkei225 trading activity finished down minus 0.3%. This move has been multiplied following the US Non-Farm Payroll report. Australia is definitely feeling the pinch since commodities, geopolitics, as well as slowing trade, unnerves business flow which in turn effects confidence. The Aussie ASX (All Ordinaries Index) finished almost 1% lower.

Currency Markets 

We had the Aussie Dollar trading back in the 0.75 handle, and also the USDJPY (Yen) traded near to 114 by means of US Dollar robustness, while Euro Dollar clipped -0.27% to 1.1393. The British Pound decreased for the first time in few days as opposed to the US Greenback following released data which had shown U.K. construction companies and the factories was down. The cryptocurrency BITCOIN dropped to 2522 (3.03%).

Commodities Market 

WTI (West Texas Intermediate) crude oil has been seeing losing 2.83% once again on Friday closing at $44.23; nearly everyone is attempting to do a flat book over this weekend, as Gold plunged $12.80 to $1212.50. 

Bond Markets

Inside the bond marketplace, US treasuries saw mild weakness on the heels of the encouraging US jobs data. Consequently, the yield on the benchmark ten-year notes, which actually goes the complete opposite of its price, rising by 2.3 basis points to 2.393 percent.


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