Trading Market Commentary July 4, 2017

Commentary

Tuesday ended up being quiet trading day due to the July Fourth holiday in the US. However, the news was covered with a North Korean (NK) test missile launch that underlines the increasing diplomatic strains between the Trump administration, and the Chinese government. As a result of missile test earlier on Tuesday, there weren't any cause problems for markets. 

In spite of the early overnight decline in futures markets, overseas stocks recovered, and the majority of the key Indexes were hanging around unchanged during the decreased volume/volatility surroundings throughout the day. However, active trading sessions are expected to resume on Wednesday (July 5).

With the concerns with regards to missile launch the safe-haven instruments, such as the Japanese Yen, Precious metals, and Fixed Income (FI) all established the bid. USDJPY ended up getting to middle 113’s handle. However, in later trading hours, Yen drifted back to under 113. The Hang Seng Index has taken the brunt with the moving lower and closed down 1.5% with large cap stocks getting slammed. Aussies saw an excellent rally in equities following the RBA (Reserve Bank of Australia) keeping the interest rates unchanged. Greenback Index had enjoyed a decent few days, and it was the last trading on Tuesday around the 96.15.

Eurozone likewise voted in empathy together with the safe-haven family with main indices all opening lower. As the trading day donned on and expected lower volume/volatility prices were able to proceed higher as the day evolved. The IBEX, FTSE100,  CAC40, and DAX30 all closed around minus 0.4 percent lower - 0.25 percent of their opening price ranges. 

Also, crude oil led the bounce with reacting to the NK story with a WTI (West Texas Intermediate) closing at 47.23 (-0.32%). The yellow metal has rebounded almost $10 after $24 decline earlier closing at 1224.00 (0.45%). Bitcoin closed at 2619 (2.13%) EURUSD currency finished at 1.1349 (-0.13%). 

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