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Nikkei 225 closes higher by 0.54% at 21,199.57

  
Analysis, Global Indices

Tokyo’s main index closes just under the key daily moving averages

Nikkei 06-09

US-China trade talk hopes continue to give equities in the region a bit of a boost following solid gains posted by Wall St in overnight trading. That said, market sentiment overall today is more calm and measured with US futures only seen up by ~0.1% currently.

All eyes are on the US non-farm payrolls data later today as well as Fed chair Powell’s speech before the weekend kicks in. As such, expect markets to hold more steady in the European morning barring any trade headlines to temper with the mood.
USD/JPY is holding a tad higher at 107.00 currently with large expiries seen around 107.00-05 potentially a factor at play in trading today.

European shares close mostly higher with the exception of the UK FTSE

  
Analysis, Global Indices

German DAX, +0.84%. UK FTSE, -0.63%

The major European shares are closing mostly higher with the exception of the UK FTSE which fell on the back of a stronger GBP.
The provisional closes are showing:
  • German DAX, +0.84%
  • France’s CAC, +1.09%
  • UK’s FTSE, -0.63%
  • Spains Ibex, +1.0%
  • Italy’s FTSE MIB, +1.0%
In the European debt market, the 10 year benchmark yields all rose:
European benchmark 10 year yields are higher

In other markets as European/London traders for the exits:

  • spot gold is down $33.95 or -2.18% at $1518.37
  • WTI crude oil futures are up $1.13 or 2.01% at $57.39
In the US debt market yields are sharply higher, with 5 year yields up 12.6 basis points leading the way.
US yields are sharply higher
In the US stock market, major indices are up sharply (and back above 50 day MA levels too):
  • S&P index up 40 points or 1.35% at 2977.60.  50 day moving average at 2945.21.
  • NASDAQ index up 126 points or 1.58% at 8103. The day moving average at 8047.98.
  • Dow industrial average up 430 points or 1.63% at 26786. 50 day MA at 26563.34.
In the forex market, the strongest and weakest currencies rank, has the GBP as the strongest and the CHF now as the weakest (taking over the weakest spot from the JPY earlier in the New York session).  The US dollar is mixed with gains against the JPY, CHF and marginally against the CAD.  The greenback is lower versus the GBP, AUD, NZD and EUR now.

Solid up day for the European stock indices today

  
Analysis, Global Indices
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Major indices are all in the black

The major European stock indices are ending the day with solid gains, helped by decreased attention in Hong Kong, increasing hope for US/China relations, less no-deal risk for the UK, and more dovish Fed officials (the ECB is set to act in September too).
The provisional closes are showing:
  • German DAX, +0.94%
  • France’s CAC, +1.21%
  • UK’s FTSE, +0.60%
  • Spains Ibex, +0.61%
  • Italy’s FTSE MIB, +1.58%
In the benchmark 10 year note sector in Europe, yields are higher as well (with the exception of Italy).
Major indices are all in the blackIn other markets as London/European traders look to exit:
  • spot gold is near unchanged at $1547. The high price reached $1550.23. The low extended to $1533.93
  • WTI crude oil futures are up $2.25 or 4.17% at $56.17. That is near the high price for the day at $56.22. The US impose tighter sanctions on Iran today.
In the US stock market major indices are enjoying solid gains as well.  A snapshot of the market currently shows:
  • S&P index 27 points or 0.93% at 2933.22
  • NASDAQ composite index is up 84 points or 1.07% at 7958.13
  • Dow Jones industrial average is up 212 points or 0.81% at 26329.70
US yields have come off high levels and trade mixed with the longer and up marginally and the shorter end unchanged or down marginally:
US yields are trading mixedA snapshot of the forex market shows that the GBP is still the strongest of the majors (but off earlier higher levels). The JPY and USD remain the weakest.  The CAD  has gotten stronger on stronger oil and a was dovish Bank of Canada statement.

European shares end trading for the day with modest gains

  
Analysis, Global Indices

The shares are higher on him the week too

European shares are ending the day with gains.  A lower will EUR may be helping the tone (which is Pres. Trumps thesis).
The provisional closes are showing:
  • German DAX, +0.8%. For the month it was down 2% which is the worst monthly decline since May
  • France’s CAC, up 0.6% on the day. The index also had its best weekly gain since June
  • UK’s FTSE, up 0.05%, but down -5.3% in August. That is the worst fall since August 2015.
  • Spains Ibex, rose 0.2%. The weekly gain was the largest cents June
  • Italy’s FTSE MIB, fell -0.35%

For the week:

  • German DAX, +2.8%
  • France’s CAC, +2.7%
  • UK’s FTSE, +0.8%
  • Spains Ibex, +1.8%
  • Italy’s FTSE MIB, +3.8%
for the month of August,
  • German DAX, -2.0%
  • France’s CAC, -0.86%
  • UK’s FTSE, -5.3%
  • Spains Ibex, -1.8%
  • Italy’s FTSE MIB, -0.6%
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