Trading Market Commentary June 14, 2017

Commentary

The US markets finished mixed following the FOMC (Federal Open Market Committee) increased its benchmark rate of interest for the third time in 3 months. The FOMC voted to increase Fed funds employing 25bp’s as expected, anywhere between 1% and 1.25% and tend to begin steady downsizing of its $4.5T (trillion) balance sheet this coming year.

Fed's so-called 'dot plot' reveals yet another rate increase this year in addition to three more within 2018. However, the Fed's enclosed statement provided a very little clue that they intend to raise interest levels once again this summer.

DowJones bounces so as the DXY (US Dollar), which was the pair very first reaction - after which index headed lower. Equities demonstrated a lack of direction for the duration of much of the trading session on Wednesday, with the DowJones, risen to another new record high on close.

The DowJones went up by 46.09 points (0.2%) to 21,374.56, the S&P500 surrounded 2.43 points (0.1%) to 2,437.92. And the NASDAQ fell by 25.48 points (0.4%) to 6,194.89. The VIX traded upward at 7% preceding 11.10.

In the Asia-Pacific region markets completed one more mixed results throughout the Wednesday's trading session. The Nikkei225 Index surrounded at 0.1%, HK's Hang Seng Index rose by 0.1%, and Shanghai completed trading day -0.75%. The Australian S&P/ASX 200 Index was the very best of the Asia-Pacific marketplace closing way up over 1% backed up by US market closing strength.

The key Euro markets likewise concluded the day mixed. DAX30 struck an intraday high with over 1%, however, moved lower into the end at 0.3% gain. The CAC40 Index and FTSE100 Index both dropped by 0.4%.

Crude oil dropped yesterday to their lowest level since November of 2016 following OPEC (Organization of the Petroleum Exporting Countries) cautioned that the worldwide glut might intensify. July WTI (West Texas Intermediate) crude oil futures dropped $1.73 (3.7%) to $44.73 per barrel on the NYMEX (New York Mercantile Exchange).

EURUSD pair retested resistance at 1.1300 in Wednesday's trading session. The level which has produced the upper limit for that pair this month. A ultimate crack above 1.1300 can attract a lot more buyers, consequently a move which might as well lead to a break the November of 2016 high.


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