Global Financial Market Overview Aug 17

Dow Jones on August 17, 2018 jumped on Friday after a report said President Donald Trump and Chinese leader Xi Jinping hope to discuss U.S.-China trade in November.

Dow Jones Industrial Average closed at 25,669.32, jumped 110.59 (+0.43%)

S&P Index closed at 2,850.13, rose 9.44 (+0.33%)

Nasdaq Composite closed at 7,816.33, rose 9.81 (+0.13%)

 

European market closed closed lower when the investors were still worry of the Turkey crisis, which would had a huge impact on many european banks, especially major banks in Italy.

Stoxx Europe 600 closed at 381.07 up 0.1%

Germany’s DAX Performance Index closed at 12,210.55, decreased 26.62 (-0.22%)

France’s CAC 40 Index closed at 5,344.93, decreased 4.09 (-0.08%)

London’s FTSE 100 closed at 7,558.59, rose 2.21 (+0.03%)

 

Asia markets largely advanced on Friday, following a strong lead in from Wall Street and positive news on the U.S.-China trade front.

The Nikkei 225 traded up by 0.35%, 78.34, to close at 22,270.38

South Korea’s Kospi index rose by 0.28% to close at 2,247.05

Down Under, the ASX 200 edged around 0.17% higher to close at 6,339.20

On the mainland, the Shanghai Composite fell by 1.33% to close at 2,669.10

The Hang Seng Index traded 0.42% up, 113.35 to 27213.41

Singapore bourse closed lower on Friday, with the key Straits Times Index down 2.49, or 0.08 %, to 3,209.44

 

New York Gold Future recovered some ground as a weakening U.S. dollar relieved pressure on prices, but the precious metal remained near 19-month lows and looked poised for its biggest weekly drop since May 2017.

COMEX rose 20 cent or 0.02% for December delivery to close at 1,184.20 USD/ounce

Platinum for October fell 7.20 USD or 0.92% to close at 777.30 USD/ounce

Palladium for September rose 3.00 USD or 0.3% to close at 877.80 USD/ounce

WTI Oil Crude closed in green two days straight from the U.S. and China possibly solution to their trade war.

West Texas Intermediate (WTI) crude for September delivery increased by 45 cent or 0.7% to close at 65.91 USD/bbl

Brent crude for October delivery increased 40 cent or almost 0.6% to close at 71.83 USD/bbl

 

United States Dollars was weaken when compared to major currencies in New York Foreign Exchange Market after the University of Michigan reported that the U.S. consumer sentiment drops to the lowest in almost one year. While Euros were strengthen after a report of July’s inflation was unexpectedly above the target set by Eastern Credit Union (ECU)

USD was weaken against JPY from 110.88 JPY to trade at 110.60 JPY, and was also weaken against Swiss Franc from 0.9964 SFR to 0.9952 SFR.

Euro was strengthen to trade at 1.1442 USD from 1.1365 USD.

Pound was strengthen to trade at 1.2746 USD from 1.2708 USD, as well as AUD to close at 0.7317 USD from 0.7259 USD.