Daily market review – May 19th 2017

Gold bars

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%.


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