Trading Market Commentary June 28, 2017

Commentary

US Market

Yesterday had been a wicked afternoon, driven by the latest cyber menace Petya as well as the tumble of the NASDAQ, can be something of the past right now. After the lack of strength has been witnessed in the last trading session, Indexes demonstrated a healthy return to the upside in the course of the trading day on Wednesday.

North America marketplace was robust from the opening bell with Retailers, Banks, and Industrials all triggering the rally. It appears as though US traders/investors came across this sooner than Euro counterparts given that the US stock market was indeed much stronger from the opening bell. 

NASDAQ contributed advances ending well off its weakest finishing in the month of June by nearly 1.5% with 87.79 points on the day to 6,234.41. Furthermore we observed robust increases for the S&P500 which progressed 21.31 points (0.9%) to 2,440.69 rose 143.95 points (0.7%) to 21,454.61.

European Markets

A great deal discusses been encompassing central banks coming from UK and rest of Europe which in turn saw impressive movements for the EURUSD and GBPUSD currencies. Nevertheless, it was the German Finance Ministers reaction to the Italian bank action within the last couple of days which had many people talking yesterday. 

Many noticed that currently there are discussions in progress that state (EU) aid may very well be restricted in a bankruptcy proceeding situations and possibly being forced to allow greater EU participation.  

Plenty of confusion over (Super Mario) Draghi’s message yesterday and it's no real shock. He was quoted saying, “Reflationary forces are in play” and also in the subsequent phrase “Current stimulus program needs to remain.” Well now, I do not feel it was the trading markets misinterpretation and feel that it is rather more likely somebody who wishes to have two specific things at the same time. 

The key Euro Indexes furthermore went to the downside on the day. As the FTSE100 Index has softened by 0.6%, the CAC40 Index and the DAX30 Index surrounded 0.1% and 0.2%, respectively.

Asia-Pacific Markets

In Asia-Pacific, stock markets migrated mainly lower throughout trading on Wednesday, with exception a plus 0.7% increasing amount of the Aussie ASX. Nikkei225 Index fell by 0.5%, while HK's Hang Seng Index decreased by 0.6%. 

There's nonetheless a lot talk regarding the excessive price movements for many Small Caps stocks in yesterday trading even as it didn't impact the key Hang Seng Index. Authorities happen to be investigating these price swings, therefore please stand by when we have more clarity on this.

Currency & Commodities Market

Aside from the Euro Dollar (EURUSD), the Canadian Dollar (USDCAD) has been the best moving fiat currency for the second time as the move powered with the latest optimistic economic excitement carries on in the “Loonie Land.” 

Yellow metal continues to be hovering around the $1250 level following Monday’s questionable flash crash, and this may well be a good signal for the gold since it didn't gather downturn momentum following the plunge.

Crude oil is definitely consolidating nearby the $44 level, since the Saudi-Qatar turmoil is undoubtedly on hold, for the time being, having next week’s cut-off date for the ultimatum slowly but surely nearing.

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