Trading Market Commentary May 10, 2017

Commentary

A relatively steady yet continual trading session for US equities, however, ended up being most likely attributed to the more robust US Dollar and higher yields in bonds. DowJones and S&P both closing little weaker although the NASDAQ and Russell finished slightly better. The short term trading risk/reward is horrible.

Primary European market played out well yesterday all round, however, was at the determent belonging to the EURUSD once again. Steady commodity prices made it easier but a majority of happening to be talking about the massive unwind trade from fixed-income back to stocks. FTSE100 was the very best of the main pack, closing up 0.55%. DAX 30 was behind at 0.45%, CAC  more robust following Monday's losses.

EURO Dollar experienced a choppy trading yesterday as the currency stood a mostly bearish tendency during the duration of the whole day, however, was able to recuperate to some degree fairly later in the day. The initial order of the day has been the continuous strength in the US Dollar which in turn aided to press the EURO Dollar under the 1.09 level.

The Swissy gapped higher to open the week; the pair has continued to ramp higher through various points of resistance. Although price time/action was not specifically bullish with USDCHF pair, trading very actively below parity level. The Bulls had continuously keep showing up all around support levels and keep opening the door to rapid upside moves. And driving closer to our initial target at 1.01009 and beyond to 1.03070 level.


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