Market Commentary March 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

American market kept its upward momentum on Monday. The DJI index advanced over 0.25% to close 25914, marking the fourth continuous extension session. 

The Nasdaq 100 and S&P 500 both printed their best numbers of this year after closing with plus 0.34% and 0.37% respectively. The small-cap Russell 2000 index advanced 0.67%, finishing the session at 1564.

The global market anxiously awaits the Fed’s interest rate plan tomorrow to share their “dot plot” plan as well as economic forecasts for 2019. Last month, Fed Chairman Powell declared that the Federal Reserve would keep a “patient” strategy to raising rates due to geopolitical difficulties and a decline in consumer activity during in fourth quarter. 

He further noted that the Federal Reserve plans to act toward decreasing the current balance sheet actively. Never the less it is mostly presumed that interest rates will continue the same - currently holding between 2.25% and 2.5%, traders and investors will be watching for signs as to when the next imminent rate hike will transpire.

Large corporates stocks were a mixed bag yesterday, while Boeing was down 1.51% along with Disney posting minus 1.61% limiting the DJI yesterday. 

The Microsoft posted plus 1.43%, and Apple printed plus 1.02% helping the index into positive territory. The Facebook slumped minus 3.32% and was one of the anchors on an oppositely positive session for the broad S&P 500 index.

Asia-Pacific Market

A green market session for the main Asia-Pacific stocks. H.K. Hang Seng index jumped 1.37% to close at 29,409, core Shanghai index rose 2.47% to finish at 3,096, The Japan Nikkei 225 index increased 0.62%) to 21,584. 

The South Korea KOSPI index followed with marginal 0.16% increase to post 2,180. India's Sensex and Aussie ASX 200 indices increased 0.19% and 0.25% respectively.

In the technology news, the Chinese smartphone producer - Huawei Technologies, said the company would see and consider developing its own Operating System as a backup plan if a ban is spread out to Google and Microsoft base.

European Market

On Monday there was a mixed market session for the main Eurozone stocks. The French CAC40 index increased 0.14% to finish at 5413, and the U.K. FTSE100 index progressed 0.98% upward to end at 7,300, while, German DAX30 took the reverse direction, trimming by 0.25% to close at 11657.

On the front of the geopolitical scene, the U.K., Commons Speaker John Bercow rejected another vote on earlier rebuffed Brexit agreement if the motion continues to be the same - lets us see what will be the next scheme.

Other Markets

Both Gold and Silver metals had a positive session yesterday, with Gold improving 0.11% to close comfortably above $1,303 and Silver metal growing 0.41% to finish at 15.32 on the day.

The Asia-Pacific currencies had a positive session yesterday: The Aussie Dollar increased 0.27% to 0.7104, the Kiwi Dollar progressed 0.10% to close at 0.6853. The Japan Yen declined by 0.05%, while the Chinese Yuan increased by 0.07% to 111.5270.

The Sterling took a tumble dropping 0.29% to post a 1.3253 close versus the greenback. Elsewhere, the Swiss Franc decreased by 0.10%. The Euro Dollar took the reverse route, raising 0.15% to finish at 1.1340 on the day.  

Most of the crude oil market had a green session yesterday. WTI crude oil was rising 0.79% to close at 58.96, while Brent oil progressed 0.34% to finish at 67.26.


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