Daily Digest: Monday 27th May
USA
US markets were closed through Monday’s session as the nation observes Memorial Day. Traders will return to their desks on Tuesday with the Nasdaq, S&P 500, and Dow all having closed Friday’s session higher.
Europe
UK traders observed an extended weekend as markets remained closed through Monday as traders celebrated a bank holiday. Mainland European markets remained open alongside their Asian counterparts with general momentum heading toward the upside. The Pan-European STOXX 600 (€SXXP) rose 1.64 points (0.32%) to 522.21, while the French CAC (€FCHI) rose 37.52 points (0.46%) to 8,132.49, and the German DAX (€GDAXI) rose 81.34 points (0.44%) to 18,774.71.
Rest of the World
Following poor performances on Friday, the Nikkei 225 (¥N225) experienced a 253.91 points (0.66%) rebound to a close at 38,900.02. Traders utilised a key support level at 38,660 as the foundation of a move to the upside while the sessions key resistance was at the indexes intraday peak of 38,928, a level last met of Thursday of last week. In terms of currencies the JPY continues to concern traders as the currency approaches the 157 level against the USD. As of 12:10 GMT, the USDJPY was trading at 156.83.
The Shanghai Stock Exchange Composite Index (¥SSE) rose 35.17 points higher (1.14%) as traders pushed the index to 3,124.04. The index experienced brief resistance around the 3,105 before breaking out to the upside. Despite a move to the upside off the open, the Indian Nifty 50 (₹NSEI) struggled to maintain its early momentum as prices fell 24.65 points (0.11%) into a close at 22,931.05.
Commodities
WTI Crude prices extended Friday’s declines rising 1.07% to $78.55 per barrel, while Gold rose a further 0.77% to $3,352.50 per ounce.
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