MARKET ANALYSIS 16/05/2017

Today’s highlights: US markets on the rise
·         A record-setting day on Wall Street: US markets recovered yesterday, with the Nasdaq and S&P 500 both closing at an all-time high. The Dow Jones also closed in the green.

 

·         US Dollar could be volatile today: The Building Permits report will be released in the US today at 12:30 GMT, giving an indication of future construction in the US – an indicator of economic growth.

 

·         Bitcoin drops below $1,700, then comes back: The cryptocurrency continued to show high volatility this morning, losing nearly 4% and dropping below the $1,700 mark, before climbing back up.

 

·         Macron and Merkel present united front: The newly-elected French President met with Germany’s Chancellor, and both said that they are committed to strengthening ties within the EU, while saying they are willing to renegotiate some of the treaties within the Union.

 

·         Kiwi could be volatile today: The GlobalDairyTrade report will be released at an unknown time in New Zealand today. Since Dairy is New Zealand’s main export, it could affect the country’s currency. The Producer Price Index report will also be released today, at 22:45 GMT.

 

·         Nvidia jumps 5%: The chipmaker capped a five-session winning streak, closing the day up 5% yesterday.

 

·         Europe opens mixed: The FTSE and CAC opened 2 and 5 point higher respectively, while the DAX opened 4 points lower.

 

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