GO Daily News Wednesday 23/05/2018
The Dow drops nearly 200 points after Trump says he’s not satisfied with China trade talks, North Korea summit may not happen. The Dow Jones industrial average fell 178.88 points to close at 24,834.41. The S&P 500 declined 0.3 percent to 2,724.44 with energy lagging. The Nasdaq composite lost 0.2 percent to close at 7,378.46. Over in Europe, the German DAX gained 92.20 points closing at 13,169.92 points where the French CAC and FTSE pretty much closed flat. Further east, the stocks in Asia close mixed as investors digest rising oil prices and trade news. In Japan, the Nikkei 225 tracked lower by 0.18 percent, or 42.03 points, to close at 22,960.34 despite starting the session with slight gains. Elsewhere, Australia’s S&P/ASX 200 declined 0.7 percent to 6,041.90 amid broad-based losses in most sectors. The country’s “Big Four” banks mostly finished the day lower, as did major miners. Markets in Hong Kong and South Korea were closed on Tuesday for a holiday.
WS30, US500, FTSE100, DAX30, CAC40, JP225 and ASX 200 (Hourly Chart)
Source: GO Markets MT4
Commodities, FOREX & Other Markets
Brent crude, the global benchmark, finished the day’s trading up 35 cents at $79.57 a barrel. The contract earlier hit $80.49, nearly topping last week’s best price since November 2014. Where U.S. crude was ended the session down 11 cents at $72.13, having earlier traded at $72.83, its highest since November 2014, after hitting 3.5-year high on supply concern. Gold rebounds from 2018 low as dollar falls. Spot gold had edged up 0.17 percent to $1,294.52 per ounce by 8:15 a.m. ET. In the previous session, it slid to $1,281.76, its lowest since Dec. 27. Silver rose 0.67 percent to $16.59 an ounce, while palladium rose 1.11 percent to $1,000.47 an ounce. Platinum climbed 1.09 percent to $905.74 an ounce, after marking a low for the year in the previous session at $873.50.
The dollar retreated on Tuesday after six straight days of gains, as U.S. Treasury yields dipped and investors looked for fresh incentives to buy the currency in the wake of its nearly 7 percent rally since mid-February. The AUD/USD traded mostly flat through Tuesday’s session, lifting to a high of 0.7605 before bedding back down heading into the overnight session, currently trading near 0.7575. NZD/USD is currently trading at 0.6937 following a bid from the 200-hr SMA at 0.6919, (0.6920 overnight lows), in a minor correction of the bearish slide from the highest levels since 15th May. EUR/USD made a round trip from 1.1770 to 1.1830 and back. USD/JPY ranged sideways between 110.80 and 111.20. GBP/USD was lively, bouncing as high as 1.3492 in London trade on some unexpectedly hawkish testimony by Bank of England MPC members. In particular, Gertjan Vlieghe suggested that the bank rate could be lifted as many as 6 times over the next 3 years, twice as fast as projected in the May Inflation Report. The pound’s gains faded in NY trade however.
AUDUSD, EURUSD, and GBPUSD (Hourly Chart)
Source: GO Markets MT4
Source: Bloomberg, TradingFloor.com, WSJ.com, CNBC
Light calendar today with focus in the later session on the UK inflation hearings.
|Thursday 24 May 2018|
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