American stocks and indices traded without any definite dynamics. So DJIA and S & P500 closed relatively smoothly, while the NASDAQ 100 reached a record high due to the growth of Apple shares (market capitalization of companies reached $ 800 billion). Asian stocks and indices traded relatively flatly, following the example of Wall Street and due to the lack of important publications. The only index that lost 0.5% yesterday was the ASX 200. The reason was the disappointing volume of retail sales in the country.
In the foreign exchange market, the US dollar rose overnight. Buyers supported the dollar index, which measures its strength against a number of major currencies, above the level of 99. A noticeable weakness was observed for the Australian dollar, which reached a level of 0.7400 against the US against the background of poor macroeconomic indicators. The rate of the Japanese yen continues to fall due to the spread of risk appetites among investors.
In the commodity market, gold fell from the previously reached level of 1235, and now trades at 1225, and market forces are fighting for control. Technically, we can see the bullish “Head and shoulders” in the formation process, and 1225 will be her right shoulder. If the fundamental data will contribute to spreading the risk aversion mood, the bulls will experience the level of 1235, break through the neck level and reach 1250. Nevertheless, if the risk mood continues to prevail in the market, bears will reach the level of 1225, forming a b-line to 1220 that will reduce to There is no formation of “Head and Shoulders”.
Crude oil retains its latest achievements against the backdrop of statements by OPEC member countries and non-OPEC countries about the need to extend the freeze on supplies for 2017. Nevertheless, encouraged by these conversations, market participants never managed to re-test the $ 50 level, and so far the maximum mark remains $ 47. If the discussions on supply reduction continue, and the report on API grade oil falls below expectations, the price of oil may continue to rise. But in the case of unconvincing rhetoric and disappointing API data, raw materials may fall in price to $ 45 per barrel.