Daily Digest: Thursday 30th May
Rest of the World
Japanese equities continued to move lower through Thursday’s trading session as the Nikkei 225 (¥N225) extended losses, closing lower for a third consecutive session. Index prices fell some 502.74 points (1.30%) to 38,054.13, marking the sharpest price movements experienced this week with the index having fallen over 3,000 point from its all-time highs earlier this year. In terms of currencies, the Yen experienced a form ofd relief rally as traders pushed the currency higher against the USD from yesterday’s 30-year lows to 156.69, as of 14:45 GMT. The JPY has remained a particular point of contention for both currency and equity traders as the currency fights against a strengthening USD, while the Japanese MOF has committed to protecting exchange rates through open market interventions.
Traders on the Chinese based Shanghai Stock Exchange Composite Index (¥SSE) experienced a trend reversal as prices were rejected around the 3,120 level. By the close, index prices had fallen some 19.34 points (0.62%) to 3,091.68 the lowest point in around a week. The Indian Nifty 50 (₹NSEI) continued lower for a fourth consecutive session as traders failed to find support around 22,600, the index closed Thursday some 216.05 points (0.95%) lower at 22,488.65.
What to Watch Tomorrow
Tokyo Core CPI
Chinese Manufacturing PMI
Chinese Services (Non-Manufacturing PMI)
UK’s Nationwide HPI (MoM)
Eurozone Core CPI Flash Estimate
US Core PCE Price Index (MoM)
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