Daily Analysis – Asia and Europe Gain, US Ends Mixed

SamTrader1

Active member
Messages
164
Likes
0
To read the Weekly technical report click here
To read the Weekly fundamental analysis click here


Equities

News of a second bailout deal for Greece boosted Asian stocks on Friday, with most of the major indexes gaining at least 1%. The Nikkei and Kospi both rose 1.2%, to 10132, and the ASX 200 advanced 1%. Hong Kong’s, Hang Seng, surged 2.1%, while the Shanghai Composite lagged behind, inching up .2%.
jul-25-hang-seng-300x136.png

Hang Seng Bounces 2% but remains in Downtrend

European markets rose, with the FTSE up .6%, the DAX gaining .5% and the CAC40 closing .7% higher. Oil-related stocks led the advance, as oil prices head back to the $100+ region.

Caterpillar reported weak earnings, which sent the company’s share down 5.8%, weighing on the Dow Jones Industrial Average. The Dow dropped 43 points to 12681, the S&P 500 rose .1%, while the Nasdaq rallied .9%.



Treasuries and Commodities

Treasuries gained, even as debt ceiling uncertainty continues. 10-year notes climbed 14/32 to yield 2.95%, and 30-year notes advanced 29/32 to yield 4.26%.

Crude oil rose .8% to 99.87, after trading as high as 100.19, and gasoline futures rallied 1% to 3.1301.

Gold climbed 14.50 to 1601.50, silver jumped 3% to 40.112, and copper rose .6% to 4.41.

Softs rallied, with sugar up 5%, wheat up 2.2% and corn gaining 1.9%.



Currencies

The Dollar closed mostly higher against major world currencies, following Thursday’s rout. The Euro slipped .4% to 1.4362, and the Pound eased .2% to 1.6289. Amongst safe-haven bets, the Yen rose .2%, while the Swiss Franc fell .2%. The Australian Dollar inched up .1% to 1.0852.



Economic Outlook

The August 2nd deadline for a debt deal is rapidly approaching, and concerns are growing that a deal will not be reached in time. A default by the US is likely to have a disastrous effect on financial markets across the globe.

Monday’s earnings reports will include Netflix, Broadcom, and Texas Instruments.


Binary Options Trading analysis written by Bradley Welcher.
 
Top