According to reports, US Stocks were trading mixed this week whereas prices of US treasuries were found lower. In USA Pending Home Sales Index based on contracts, jumped to 1.5% i.e. more than double of expected rate of 0.7% increase. Moreover, a recent survey reveals the strong and solid position of overall manufacturing sector of USA coupled with moderate growth. Prices of Corn, Wheat and Soya bean fell in international markets where prices of raw sugar jumped to a two months high due to tax increase in Brazil but on Friday after falling 5.9%, prices of Raw Sugar settled down at 14.31 cents per lb. The prices of Copper jumped up to a two year high and traded at $ 6.369 a ton. In Tokyo rubber traded at $ 1.86 (205.7 Yen)
According to a recent financial survey the Euro performed the year’s best major currency against the dollar. At the end of last week Euro reached its highest point at $ 1.1777 since Jan 2015. It has been observed that Euro gained about 11% against the Dollar in 2017. This positivity of Euro is attributed to political calm and peace after elections process in Holland, France and England. Meanwhile European Central Bank Chief Mario Draghi has given clear indications regarding Bank’s massive economic stimulus policy and low interest rates in Euro Zone.
In Saudia Arabia performing index showed negative and declining trend whereas Riyadh Index fell 0.8% as their largest Petro chemical maker showed 1.3% decline in their profit. On the other hand significant drop in profit has also been recorded in Saudi iron, steel and banking sector. Moreover Doha and Abu Dhabi index also showed 1% decline.
Due to crack down in tech stock this week S& P 500 and NASDAQ dipped down 0.2% and 0.18% respectively whereas Dow Jones Industrial Average hit record high.
Gold prices steadies as spot Gold prices remained 0.1% higher at $ 1267.30 per ounce whereas US Gold future for December deliveries settled at $ 1273.30 per ounce.
Oil prices dipped as OPEC countries output reached 33 million bpd contrary to less demands paving way to an era of low prices. However Brent Crude settled down at $ 52.01 a barrel whereas US Crude settled at $ 49.96 a barrel.
Hope this will support traders for their future trades