Global Financial Market Overview

Dow Jones on August 7, 2018 closed lower from the rising tension of trade war between the U.S. and China that both kept retaliating by imposing higher tariffs. Oil crude price sank heavily, caused energy section in stock market to worry along with a lower revenue than expected from Walt Disney.

Dow Jones Industrial Average closed at 25,583.75, fell 45.16 (-0.18%)

S&P Index closed at 2,857.70, fell 0.75 (-0.03%)

Nasdaq Composite closed at 7,888.33, up 4.66 (+0.06%)

European stock markets closed lower, pressured by the U.S. trade war with China.

Stoxx Europe 600 closed at 389.69 fell 0.2%

Germany’s DAX Performance Index closed at 12,633.54, fell 14.65 (-0.12%)

France’s CAC 40 Index closed at 5,501.90, fell 19.41 (-0.35%)

London’s FTSE 100 closed at 7,776.65, increased 58.17 (+0.75%)

 

Asian stocks closed mixed on Wednesday, with China losing steam after rebounding in the last session, as regional markets took cues from Wall Street’s overnight advance on strong earnings.

Japan’s Nikkei 225 closed lower by 0.08 percent, or 18.43 points, at 22,644.31

South Korea’s Kospi inching higher by 0.06 percent to 2,301.45

Shanghai Composite fell 1.23 percent to close at 2,745.11, and the blue-chip CSI 300 lost 1.59%

Hong Kong’s Hang Seng Index edged higher by 0.39 percent or 110.26 points to close at 28359.14

Australian’s S&P/ASX 200 tacked on 0.23 percent to close at 6,268.50

Singapore’s Straits Times Index down 0.4 per cent or 13.26 points to 3,326.74

New York gold future moved up from the weaken dollar and a lower rate of return from U.S. bond. Investors also purchase gold as safe assets after the trade war tension between the U.S. and China increased.

 

COMEX were up 2.7 USD or 0.22% for December delivery to close at 1,221.00 USD/ounce

Platinum for October fell 1.9 USD or 0.62% to close at 829.5 USD/ounce

Palladium for September sank 19.50 USD or 1.8% to close at 886.40 USD/ounce

WTI crude fell more than 3% yesterday after EIA revealed that oil crude stock was lower than expected, while investors still worried about the U.S. trade war with China.

West Texas Intermediate (WTI) crude for September delivery fell by 2.23 USD or 3.2% to close at 66.94 USD/bbl

Brent crude for October delivery fell 2.37 USD or 3.2% to close at 72.28 USD/bbl

 

United States Dollars was weaken when compared to other currencies in New York Foreign Exchange Market. Investors were all worried of the trade war tension between the U.S. and China.

USD was weaken against JPY from 111.42 JPY to trade at 110.97 JPY, and also weaken against Swiss Franc from 0.9956 SFR to 0.9929 SFR.

Euro was strengthen to trade at 1.1618  USD from 1.1564 USD.

Pound fell to trade at 1.2892 USD from 1.2935 USD, while AUD was strengthen to close at 0.7438 USD from 0.7423 USD.