Daily Digest: Thursday 23rd May
Rest of the World
The Nikkei 225 (¥N225) ended it’s two session losing streak as prices were pushed 486.12 points (1.26%) higher to 39,103.22. Traders found substantial support around the 38,618 level on Wednesday, an area retested on Thursday morning before prices pushed higher through the session. The JPY continued to depreciate against the USD falling to 156.71 as of 10:51 GMT, as questions are raised over the possibility and likelihood of further MOF currency interventions.
Once again, the Shanghai Stock Exchange Composite Index (¥SSE) extended declines falling a further 42.15 points (1.33%) to 3,116.39 as sentiment toward Chinese equities remains bleak. On a 1-hour timeframe the indexes RSI sits at 32.25 signalling heavy selling pressures while the MACD also sits below the signal line affirming the prevailing short-term directional trend.
The Indian Nifty 50 (₹NSEI) continued higher for a fourth consecutive session, as prices pushed 369.85 points (1.64%) higher to 22,967.65. Sentiment remains strong based on current growth forecasts and stronger economic outlooks. The index broke new all time highs at its intraday peak, before meeting slight resistance at 22,993.60.
Sources:
https://uk.finance.yahoo.com/world-indices/
https://uk.finance.yahoo.com/commodities
https://www.londonstockexchange.com/indices/ftse-100
https://www.binance.com/en-GB/price/bitcoin
https://www.binance.com/en-GB/price/ethereum
https://qontigo.com/index/sxxp/
Stock Market Activity Today & Latest Stock Market Trends | Nasdaq
https://coinmarketcap.com/charts/#market-cap
https://www.forexfactory.com
Definitions:
YoY - Year on Year, or, Year over Year
MoM - Month on Month, or, Month over Month
QoQ - Quarter on Quarter, or, Quarter over Quarter
ECB - European Central Bank
BOJ - Bank of Japan
Fed - Federal Reserve
BOE - Bank of England
SNB - Swiss National Bank
DOJ - Department of Justice