Market Overview (Jul 01 - Jul 07)

In this article, we would like to present the review of financial markets targeting the major financial instruments during the period from Jul 01 to Jul 07.

Indices:

Last week observed a negative trading affair for most indices.

In Europe, the UKX’s bearish tendency from mid-May did not stop this week when the index fell to 7617.7, losing 0.28% in value. The CAC40 rose up after two continuous weeks dropping with an increase of 1.08% from last week’s number to 5375.8. In Germany, the DAX’s value gained nearly 2.93% from the opening of the week and closed at 12496.17.

Meanwhile, in the U.S, the NASDAQ (IXIC) bullish tendency was fortified this week with a considerable climb to 7688.4 on Friday, printing an increase of 3.12% from last Friday. The DOW (DJI) had a modest rise of 0.89% to 24456.48 after a slight fall last week.

NASDAQ
Source: Delo.ua


In Japan, the Nikkei 225 bearish propensity seemed to be emerging when the index dropped to 21788.1, posting a considerable fall of 2.8%.
Foreign exchange market:

On the Forex market this week, the Greenback trader’s worst nightmare showed up in the form of a Trade War with China. While there are not many important releases on the EUR this week, the conversed movements on the publishing of indices in the U.S cannot save the Greenback from a week of plunging in value towards major currencies. Among the new releases, ISM Non-Manufacturing PMI, ISM Manufacturing PMI, and Non-Farm Employment Change were positive with actual number considerably higher than forecasts; when the ADP Non-Farm Employment Change, Average Hourly Earnings m/m, and Unemployment Rate said a different thing about the economy. Finishing up the week’s sessions, the EUR/USD exchange increased by about 0.64%, trading at 1.17431.

This week is another positive time for the British Pound because of the very bright publishing of Manufacturing PMI, Construction PMI, and Services PMI. The Cable responded to these, of course with the huge impact from the fall of the Greenback value, with an increase to 1.32841, gaining 0.85% over the course of the five sessions.

From Japan, there was no news this week that could seriously affect the Yen value. The recent releases of Tankan Non-Manufacturing Index and Average Cash Earnings y/y, both higher than forecasts, helped to print a positive picture of Japan’s economy. The USD/JPY this week decreased to 110.440 after the significant fall of USD value.

In Canada, the overview on market was relatively negative this week, given the lower-than-forecast of both Trade Balance and Unemployment Rate, besides the positive Employment Change. The USD/CAD reacted with a fall and closed the week at 1.30802, posting a considerable decrease of 0.34% from last week.

In Oceania, the announcement of trade deficit and Retail Sales m/m in conversed directions in Australia were the main players. When the Retail Sales m/m rose to 0.4% from forecast’s 0.3%, the Trade Balance suffered the deficit valued at 0.83B. The AUD/USD slightly fell to 0.74267 and post an increase of 0.22% from last week’s rate, while the NZD/USD ended the week at 0.68359 with a growth of 0.65% from last week’s.

Other assets:

The yellow metal’s recent serious bearish tendency ended this week with a slight growth from last Friday’s price before finishing at 1254.63, recording a rise of nearly 0.04%.

Oil price had a light increase this week with the WTI benchmark landed at $73.87 per barrel, posting a climb of 0.6% from last week’s close.
In the cryptocurrency market, the Bitcoin had a modest increase week. At the time of writing, BTC/USD is trading around $6,565.
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