Trading Market Commentary May 9, 2017

Commentary

We had robust movements at the start of the US trading session yesterday but unfortunately, couldn't be preserved with closing little down. During early hours we were treated to intraday highs with the NASDAQ as well as S&P since the move into the Forex additionally outlined this as being a powerful indication. The DXY  (US Dollar) witnessed trading just below the 99 handle, however, experienced a +0.45% impressive gain for the entire day.

DAX30 shed ground, subsequent profit-taking following the latest runs. FTSE100 maintained a little profit, however, the GBPUSD experienced loss of around 0.35%, The EURUSD lose 0.65%, this was the first loss of 3 days for EURO. 

Japan back to the market spot following the three-day Golden Week holiday season and seeming peaceful resolution in Europe following Macron victory in France the Nikkei225 jumped 2.3% in yesterday's trading.

Many seem to be pondering why the CAC fell in yesterday market, concluding with a loss of nearly 1% following Macron victory! Probability wise might by the fact that the actual result was in fact already priced in by the market; the ancient adage ‘Buy the Rumour sell the fact’ comes to mind.


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