Trading Market Commentary June 22, 2017

Commentary

The crude oil prices continue to unsettle market segments, as well as the US Dollar that has been moving lower since yesterday midday. Those two events had a high abnormal impact on Euro marketplaces, which formed the movement, in relatively quiet markets yesterday. The US markets held in well. However, Asia-Pacific looks to be rolling over as trading community advances throughout the week.

The stock market saw moderate sturdiness for most of the trading session on Thursday. However, early on in the day, equities took advantage of a favorable response to the news of the specifics of the Republican Senate plan to repeal as well as replace Obamacare plan. And then the stocks surrendered going into the closing session. The main Indexes retracted close to the unchanged range, with the S&P500 and the DowJones dropping into negative zone. 

The main Indexes concluded the trading day mixed for the 2nd straight session. As the DowJones fallen 12.74 points (0.1%) to 397.29, NASDAQ crawl up 2.73 points or less than a .1% to 6,236.69, and the S&P500 dipped 1.11 points (0.1%) to 2,434.50.

In Asia-Pacific trading, markets throughout the region completed a mixed results in the course of the trading session on Thursday. The Nikkei225 Index slipped 0.1%, although Australia's All Ordinaries ASX Index rose by 0.7% from Wednesday lows levels. 

The key Euro stock markets furthermore finished mixed on the day. The DAX30 Index and the CAC40 Index both edged up by 0.2%. The FTSE100 Index lowered by 0.1%.

Crude oil and yellow metal were both higher in yesterday trading, as a result of US Dollar’s move to downside even though crude oil continue to look beaten down, with the WTI (Wests Texas Intermediate) forward contract trading about the $43 per barrel. Yellow metal, one of the primary safe-haven assets is in far better condition with regards to long-term outlook. Also, it may up and coming from the post-Federal Reserve correction which carried the Gold from $1300 high to $1250 low range. 

The USD/CAD (Canadian Dollar) certainly was the star within the FX market as the product rally, as well as a lot better than anticipated retail sales report sent the currency significantly higher versus its competitors, together with the other main currencies staying essentially the same. 

The crypto-market was relatively quiet, in spite of Wednesday’s “flash crash” in Ethereum. BTC (Bitcoin) bounced off the $2600 support level yesterday, and it's back again at the $2700 vicinity ETH (Ethereum) honored the $300 support level, and it's nevertheless in a relatively neutral short-term consolidation area. 


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