Global Financial Market Overview

Dow Jones on August 16, 2018 made a high jump for almost 400 points to close at 25,558.73 on Thursday. The market were rejoiced after China accepted the invitation from the U.S. to find a solution of the current trade war. The industrial sections were the most to benefit yesterday.

Dow Jones Industrial Average closed at 25,558.73, jumped 396.32 (+1.58%)

S&P Index closed at 2,840.69, up 22.32 (+0.79%)

Nasdaq Composite closed at 7,806.52, up 32.41 (+0.42%)

 

European market closed in green after the crisis in Turkey currency was easing up. While investors were happy to hear that the U.S. and China would find a solution to their problems.

Stoxx Europe 600 closed at 381.43 up 0.5%

Germany’s DAX Performance Index closed at 12,237.17, rose 74.16 (+0.61%)

France’s CAC 40 Index closed at 5,349.02, rose 43.80 (+0.83%)

London’s FTSE 100 closed at 7,556.38, rose 58.51 (+0.78%)

 

Asian shares slipped on Thursday, but pared some of the steeper losses seen earlier after China announced it was planning for a new round of trade talks with the United States. Market reaction was also tempered by other factors, such as broader concerns over U.S.-China trade ties, the stronger dollar , the slowing Chinese economy and the declines in markets stateside.

Greater China markets narrowed losses following the news, with the Shanghai Composite closing lower by 0.63% or 17.29 at 2,705.97 after opening more than 1% down.

Hong Kong’s Hang Seng Index fell 0.82% or 223.53 to end at 27100.06

In Japan ,the Nikkei 225 took a slight dip of 0.05% to close at 22,192.04

South Korea’s Kospi finished the day lower by 0.8% to close at 2,240.80

The Australian ASX 200 closed marginally lower at 6,382.30, lower by just 0.01% or 0.70

Singapore bourse closed lower with the key Straits Times Index down 22.19, or 0.7%, to 3,211.93.

 

New York Gold Future closed negative yesterday from the selloff after the Dow Jones rose almost 400 points regarding the report of the U.S. and China would find a solution to ease their trade war.

COMEX fell 1 USD or 1.79% for December delivery to close at 1,184.00 USD/ounce

Platinum for October increased 12.60 USD or 1.63% to close at 784.50 USD/ounce

Palladium for September jumped 37.60 USD or 4.5% to close at 874.80 USD/ounce

 

WTI Oil Crude closed higher from the investors’ speculation on oil crude after the price had been falling for three straight days.

West Texas Intermediate (WTI) crude for September delivery increased by 45 cent or 0.7% to close at 65.46 USD/bbl

Brent crude for October delivery increased 67 cent or almost 1% to close at 71.43 USD/bbl

 

United States Dollars was strengthen when compared to Japanese Yen and Swiss Franc in New York Foreign Exchange Market, but was weaken in the Eurozone after the fluctuated economy data had been revealed from the U.S.

USD was strengthen against JPY from 110.58 JPY to trade at 110.88 JPY, and also strong against Swiss Franc from 0.9927 SFR to 0.9964 SFR.

Euro was strengthen to trade at 1.1365 USD from 1.1344 USD.

Pound was strengthen to trade at 1.2708 USD from 1.2692 USD, as well as AUD to close at 0.7259 USD from 0.7237 USD.