Daily market review – May 24th 2017

china-flag-new

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.

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