Daily market review – May 30th 2017

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The French economy continues to gain momentum. The French economy grew at a faster rate than initial estimates in the first quarter of the year, but still has a low growth rate relative to its neighbors to the Euro zone.
French Statistics Insee reported today that France’s GDP grew by 0.4% in the first quarter, compared with an initial estimate of 0.3% growth.

The European interest rates will remain at a record low despite the recovery of the Euro zone economy, as the recovery is still not sustainable, ECB President Mario Draghi said in a speech at the European Parliament.
He explained that inflation should stabilize around 2% and that productivity should grow until the interest rate rises.

Daily market review – May 26th 2017

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Inflation data released today in Japan slightly disappointed investors.
According to data from the Ministry of the Interior and Communications in the country, the core price index, which excludes fresh food, rose in April at an annual rate of 0.3%.
While the figure represents an improvement from March, when the index rose by 0.2%, the Nikkei published a survey of analysts who predicted that core inflation in the country would rise by 0.4%.

Wall Street indexes closed yesterday with a rise for the sixth day in a row after a strong financial reports from Sears and Best Buy, and US jobless claims fell to a nearly 50-year low.

In the foreign currency market, the US dollar traded against the Euro without appreciating significantly around $ 1.1212 per euro, while the pound fell by 0.5% to a two-week low and traded around $ 1.2879 per pound.

Daily market review – May 24th 2017

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The trading on Asian markets ended with a rise.
Tokyo rose by 0.6%, Hong Kong and Shanghai were locked unchanged.
Singapore rose by 0.2%,South Korea strengthened by 0.2% and Sydney rose by 0.2%.

Moody’s downgraded its credit rating to China on the grounds that the nation’s economic outlook had deteriorated as a rise in debt and slower growth.
Industrial metals prices are down following the downgrade to China.
Iron ore futures on the Chinese Dalian Stock Exchange are down by 5.6% to 452 yuan per tonne.
Nickel is down by 2.4% to $ 9,125 per tonne on the London Metal Exchange (LME).

The price of the oil is rising towards the opening of the OPEC conference tomorrow in Vienna.
The WTI is up by 0.3% to $ 51.6 a barrel.
The Brent crude is up by 0.4% to $ 54.3 a barrel.

The US dollar is stable against the major currencies. The Euro was trading at a low of $ 1.1178.
The pound is trading at $ 1.2972, and the US dollar is up against the Japanese yen by 0.1% to 111.91 yen per dollar.

Daily market review – May 23rd 2017

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Wall Street markets is trading with a rise for the fourth day in a row.

Some economic news from the US:

Philadelphia Fed non-manufacturing index falls in May.
The Philadelphia Federal Reserve said on Tuesday its barometer of non-manufacturing business activity in the U.S. Mid-Atlantic region fell to its lowest level so far in 2017 in May, led by declines in new orders and employment.

The regional bank of the Fed said its index on business activity at services companies in the region fell to 25.8 points, the lowest since November 2016 when it was 16.8. It was 34.9 points in April.

U.S. New-Home Sales Fell More Than Expected in April.

Single-family home sales decreased by11.4%to a 569,000 annualized pace (median forecast called for a 610,000 rate)
The median sales price of a new house dropped by 3.8% from April 2016 to $309,200
Supply of homes rose to 5.7 months, the highest since September 2015, from 4.9 months; there were 268,000 new houses on the market at the end of April, most since July 2009
Key Takeaways

While new-home sales only account for about 10 percent of the residential market, the broader housing picture has remained bright with solid job growth and modest boosts to wages.

Daily market review – May 22nd 2017

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There is a mixed trend so far today (Monday) at the opening of the trading week on the European stock exchanges, at the background of slight price increases in future Wall Street futures contracts.

In Europe in particular, and in markets in general, another ballistic test conducted yesterday by North Korea is continuing to digest what appears to be a continuation of the rise in Western countries.

In addition, the market players are waiting for the results of President Trump’s first visit from to the United States, a trip between Saudi Arabia, Israel, the Palestinian Authority, Rome and Brussels.
Yesterday he signed a huge $ 350 billion arms deal between the United States and Saudi Arabia.

In Asia most of the leading stock exchanges closed this morning with price hikes.

Daily market review – May 19th 2017

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Asian markets are trading on a mixed trend this morning, after trading on Wall Street ended with price hikes.

Tokyo is up by 0.1%,Hong Kong rising by 0.3%.
Shanghai recorded slight declines of less than 0.1%. Sydney fell by 0.2%, Seoul is up by 0.2%.

In the foreign currency market, the US dollar weakened against the Japanese yen by 0.1% and traded around 11.4 yen per dollar

The Dow Jones Industrial Average closed up yesterday by 0.3% and the S & P 500 climbed by 0.4%.
Both indexes fell two days ago by 1.8%, the sharpest fall since September.
The Nasdaq Composite Index added 0.7%.

The day’s gains were recorded at the background of macroeconomic data released in the United States, indicating that the number of ongoing unemployment claims at its lowest level since 1988 has led to a sharp jump in Philadelphia manufacturing activity and a rise in the leading US economic indices.

Oil prices climbed for a second consecutive day ahead of an OPEC meeting next week, with WTI closing at $ 49.35 a barrel, up by 0.6%.

OPEC oil ministers will meet in Vienna on May 25 to discuss an extension of the cutback agreement designed to reduce excess supply in world oil markets.

The price of gold hit a six-day rally as US equities recovered from the falls, reducing demand for the precious metal, which is considered a refuge for investors in times of crisis.

The price of the Gold closed at $ 1,252.8 per ounce, down by 0.5%.

Daily market review – May 18th 2017

Stock market abstract background

The trading in the European stock exchanges is taking place on Thursday in light of the sharp declines in trading on US stock exchanges yesterday, in the shadow of political scandals involving President Trump
The leading indexes on Wall Street yesterday ended the worst day in eight months, with declines of up to 2.6%.

Asian stock markets closed in a negative direction.
The Japanese yen strengthened significantly against the US dollar and weighed heavily on Tokyo’s stock market.
Investors seem to be ignoring the data released today, pointing to an expansion of the Japanese economy at an annual rate of 2.2% in the first quarter, above the market forecasts to a growth rate of 1.7%.

So what caused the nervousness in the markets?
The US President Donald Trump, whose promises of far-reaching economic reforms have been the catalyst for Raleigh in recent months, is now the reason for the fear that has permeated the markets.
The President Trump reportedly leaked secret intelligence information to Russian officials.

Daily market review – May 17th 2017

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The trading in Asian stock exchanges is taking place on Wednesday in the shadow of the news from Washington, amidst reports that Trump gave secret information to Russian officials.
The affair weighed heavily on the US stock markets, which closed in a mixed trend, with the Nasdaq closing again at a new peak.

The Japanese Nikkei is trading in a decline as most of the shares of export companies are traded at sharp declines.

Australia’s banking sector continues to trade under pressure after the government announced last week that it intends to increase taxes on the profits of major banks.

Greece’s economy contracted by 0.1%, after contracting by 1.2% in the last quarter of 2016, according to statistics from the Greek Statistics Authority.
Analysts reported growth of 0.2% for the first quarter.

The figures from Italy are also discouraging. The economy grew by 0.2% in the first quarter from a year earlier, and Italy’s economy grew by 0.8% on a yearly basis, and the third largest economy in the Euro zone is still waning after a prolonged recession that ended in 2014.

Daily market review – May 16th 2017

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Wall Street is trading in a mixed trend on the background of reports that Trump leaked confidential information to Russia.

Following the publication, the US dollar is down to its lowest level since November.
The dollar is down against the Euro by 1% and trades around $ 1.1086 per euro.
Against the Japanese yen, the dollar is down 0.5 percent to 113.2 yen per dollar.

The leading indexes on Wall Street are trading in a mixed trend at the background of encouraging production data in the US.
The Dow Jones is trading unchanged, the S & P 500 is down by 0.1% and the Nasdaq is up by 0.2%.

The oil is falling after earlier gains after Kuwait joined Saudi Arabia and Russia
and announced that it supports the extension of the cutback in output.
However, investors fear that Iran will not agree to cooperate with the emerging agreement.
The WTI fell by 0.2% to $ 48.75 per barrel.
The Brent oil is down by 0.1% to $ 51.78 per barrel.

Daily market review – May 15th 2017

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Last Friday Wall Street close a negative week for the first time in four weeks, after a mixed US inflation and retail sales.
This week’s trading is expected to take place at the background of the reporting season, which is due to end this week with the results of retail outlets like Wal-Mart and Gap.

In addition, US macroeconomic data such as permits, construction starts and industrial output will be published during the week, and the data for the first quarter in the Euro Zone and Japan.

In the commodities market, the price of the oil rose after the Saudi energy minister and the Russian oil minister issued a joint statement saying the two agreed to extend the oil cuts that came into force in January this year until March 2018.
Saudi Arabia and Russia are the world’s largest oil producers.

This morning the WTI crude for delivery in June rose 2% to $ 48.8 per barrel.
The Brent oil for delivery in July rose 2% to $ 51.8 per barrel.