Global Financial Market Overview Aug 20

Dow Jones on August 20, 2018 neared a new record as investors renewed their bets that trade wars and other geopolitical worries wouldn’t derail this bull market, which is set to become the longest rally ever this week.

Dow Jones Industrial Average closed at 25,758.69, jumped 89.37 (+0.35%)

S&P Index closed at 2,857.05, rose 6.92 (+0.24%)

Nasdaq Composite closed at 7,821.01, rose 4.68 (+0.06%)

 

European stocks finished Monday’s session higher, as investors awaited the outcome of trade talks between the world’s two largest economies, due to take place later this week.

Stoxx Europe 600 closed at 383.23 up 0.6%

Germany’s DAX Performance Index closed at 12,331.30, rose 120.75 (+0.99%)

France’s CAC 40 Index closed at 5,379.65, rose 34.72 (+0.65%)

London’s FTSE 100 closed at 7,591.26, rose 32.67 (+0.43%)

 

Asia markets mostly rose on Monday, following a higher finish on Wall Street Friday amid optimism over planned trade talks between the United States and China. There was a report that China and U.S. negotiators are working on a plan to end a trade dispute that would result in meetings between President Donald Trump and Chinese leader Xi Jinping in November.

Japan’s Nikkei 225  declined 71.38, or 0.32%, to close at 22,199

In South Korea, the Kospi closed near flat at 2,247.88 , up 0.83 or 0.04%

Hong Kong’s Hang Seng index rose 384.61 or 1.41% to close at 27598.02

Shanghai composite gained 1.11% or 29.50 to close at  2,698.47

Shenzhen composite ended the trading day 0.602% up at 1,451.07

Australia’s ASX 200 closed higher 5.80 or 0.09% to close near flat at 6,345

Singapore stocks ended lower, with the Straits Times Index dropping 4.73 or 0.1 % to 3,204.71

 

New York Gold Future inched higher on Monday after touching a more than 1-1/2 year low last week as China’s strengthening currency made the metal cheaper for buyers in the world’s biggest gold consumer.

COMEX rose 10.4 USD or 0.88% for December delivery to close at 1,194.60 USD/ounce

Platinum for October rose 16.60 USD or 2.14% to close at 793.90 USD/ounce

Palladium for September rose 20.90 USD or 2.4% to close at 898.70 USD/ounce

 

WTI Oil Crude rose after weeks of declines, supported by easing concerns over a potential trade war between the United States and China, as well as an expected fall in supply from Iran due to U.S. sanctions.

West Texas Intermediate (WTI) crude for September delivery increased by 52 cent or 0.8% to close at 66.43 USD/bbl

Brent crude for October delivery increased 38 cent or almost 0.5% to close at 72.21 USD/bbl

 

United States Dollars reversed gains as concerns eased about possible contagion effects of Turkey’s currency crisis, though growing optimism over upcoming U.S.-China trade talks provided a floor for the greenback.

USD was weaken against JPY from 110.60 JPY to trade at 110.21 JPY, and was also weaken against Swiss Franc from 0.9957 SFR to 0.9920 SFR.

Euro was strengthen to trade at 1.1467 USD from 1.1436 USD.

Pound was strengthen to trade at 1.2785 USD from 1.2720 USD, as well as AUD to close at 0.7327 USD from 0.7307 USD.