Global Financial Market Overview
A financial overview of global market as of August 1, 2018
Dow Jones sank yesterday (August 1, 2018) after the FED left key interest rates unchanged amid concerns about trade tensions between the United States and its trading partners. While the rates are expected to go up in September.
Stock market also received an effect from the falling of energy and industrial segments. However, Nasdaq closed higher from tech segment, especially Apple Inc.
Dow Jones Industrial Average closed at 25,333.82, fell 81.37 (-0.32%)
S&P Index closed at 2,813.36, fell 2.93 (-0.10%)
Nasdaq Composite closed at 7,707.29, up 35.50 (+0.46%)
European stock market closed slightly lower on August 1st regarding trade war between US and China after Donald Trump declared to increase import tariffs from China to 25%
Stoxx Europe 600 closed at 389.84, fell 0.5%.
Germany’s DAX Performance Index closed at 12,737.05, fell 68.45 (-0.53%)
France’s CAC 40 Index closed at 5,498.37, fell 12.93 (-0.23%)
London’s FTSE 100 closed at 7,652.91, fell 95.85 (-1.24%)
New York gold future fell yesterday from stronger dollars, while traders still cautioned about the FED’s meeting that ended after the market closed.
COMEX went fell 6.00 USD or 0.49% for December delivery to close at 1,227.60 USD/ounce
Platinum for October fell 28.60 USD or 3.38% to close at 817.20 USD/ounce
Palladium for September fell 20.00 USD or almost 2.2% to close at 911.90 USD/ounce
WTI crude closed lower last night after a report from EIA that the U.S.’s crude oil has increased, while OPEC also reportedly to increase their oil production in July from OPEC.
West Texas Intermediate (WTI) crude for September delivery fell 1.10 USD or almost 1.6% to close at 67.66 USD/bbl
Brent crude for September delivery fell 1.82 USD or 2.5% to close at 72.39 USD/bbl
United States Dollars grew stronger when compared to other currencies in New York Foreign Exchange Market after hearing of the conclusion from the FED to maintain interest rates.
USD was weaken against JPY from 111.84 JPY to trade at 111.57 JPY. While getting stronger against Swiss Franc from 0.9900 SFR to 0.9919 SFR.
Euro weakened to trade at 1.1664 USD from 1.1697 USD.
Pound grew stronger to trade at 1.3127 USD from 1.3124 USD, while AUD got weaken to close at 0.7399 USD from 0.7435 USD.