Trading Market Commentary July 20, 2017

Commentary

The ECB (European Central Bank) backtracked from the latest hawkish stance yesterday, as the Super Mario (Mario Draghi) of the ECB central bank announced in its monetary announcement how the European Central Bank is preparing to broaden its QE (Quantitative Easing) program in “time and extent” when necessary.

The shift has been most likely motivated by the Fed's change in unsupported claims in response to the very soft economic data in the United States. The European Central Bank continues on its Federal Reserve dependent monetary plan, as the latest surge in the Euro Dollar is also more likely to create a difficulty for the Eurozone policy planners.

US Markets

US stock market continues to keep pushing ahead with the S&P500 having produced over twenty-five all new highs levels thus far this coming year! Stock earnings tend to be somewhat encouraging, and also the Morgan Stanley data is supporting a broad-based rally for the financial sector. 

Indices extended slightly higher right after striking new all-time highs on Thursday, with the NASDAQ continue to in the lead, after the latest correction. Being the US companies earnings season is warming up, we expect volatile over night movements within the key indices in the forthcoming period.

The main indexs concluded the Thursday session on opposite sides within the unchanged level. The S&P500 surrounded 0.38 points or less than a 0.1% to 2,473.45. The DowJones dropped 28.97 points (0.1%) to 21,611.78, while the NASDAQ went 4.96 points (0.1%) upwards to 6,390.00. 

European Markets

Eurozone stocks had been a better bid out of the open bell but could not support the muscle while market approached the European Central Bank announcement. The moves were mostly rolled away following the ECB press conference; however, the afternoon trade session was hit since they replicated the more robust Euro Dollar despite the fact that we were treated to minimal activity in the decision yet anticipated tightening talks to begin in September of this year.

The key Euro markets turned mixed throughout the course of the trading session on Thursday, with the DAX30 and the Stoxx 50 both stayed at in the positive territory. While the FTSE100 Index leaped by 0.8%, as Pound declined -0.4%, the CAC40 Index decreased by 0.3%. 

Asia-Pacific Markets

A dynamic Asian-Pacific trading market moved, for the most part, higher throughout trading on Thursday, along with added inspiration from the BOJ (Bank of Japan), which left interest rates unchanged; however, we did find out they reduced the inflation outlook for this year and next year as well. 

The Nikkei225 finished the trading day up +0.6% with TOPIX making new highs, as the Japanese Yen turned around earlier robustness and after this played at the lowest levels of the trading session around 112.35 range. The Shanghai Index saw a robust market changing with all the moves witnessed earlier in the week and is also on the right course to climb back within the 2015 level. 

The HK's Hang Seng Index increased 0.3% as traders and investors looked forward to the European Central Bank announcement. ASX200 moved higher on more robust commodity prices while the Aussie Dollar is moving away from the psychological Eighty's level. S&P BSE SENSEX closed modestly lower at -0.16% as rumors of profit-taking flow into trading.

Other Markets

Commodities ended up mixed in the midst of the forex market volatility, with crude oil continue getting healthy along with Yellow metal consolidation its latest advances. The crypto marketplace is continuing its robust rebound yesterday, with Bitcoin at the forefront climbing higher, by surging past $2500 level still enhanced by the bullish sentiment as well as the oversold conditions. Dash crypto is likewise among the most dominant majors, approaching the $200 level. 

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