Daily Market Review – April, 20

Posted on Categories Daily market reviewTags , , Author

Gold Price decreased to $1,286.10 (-0.08%) per ounce, Silver Price $18.33 (-0.27%), Platinum Price $981.20 (+0.68%), Palladium Price $798.50 (+2.51%), Dow Jones index 20 440.00 (0.17% increase).

U.S. Dollar vs Precious metals

The U.S. dollar continued to recover from a five-month low against the majority of currency. After treasury Secretary Steven Mnuchin speech to the Financial Times that US President Donald Trump is “absolutely not” trying to talk down the strong dollar,investors consider the US Dollar is still unsteady this week, tensions over North Korea and looming French and U.K. elections that hold implications for the European economy have provided haven investor demand for precious metals in recent days.

Gold price is holding up well this morning, with spot prices little changed. Though investors are still very much paying attention to what is happening in Asia, worries surrounding a potential US-North Korean war have diminished significantly.

Geopolitical concerns remained to the forefront after U.S. Secretary of State Rex Tillerson said on Wednesday that Washington was looking at ways to pressure North Korea over its nuclear program.

Stock Market Today

U.S. stocks on Thursday opened slightly higher S&P 500 2343.48 (+0.22%) and NASDAQ Index 5885.89 (+0.39%), Dow Jones Industrial Average 20442.90 (+0.19%).

U.S. stocks edged higher on Thursday as investors focused on a deluge of corporate earnings reports and economic data. All the main indexes gained a few points and started day trading higher. Crude oil’s solid losses on Wednesday did give equities traders pause, but oil prices have rebounded a bit Thursday morning. U.S. stock indexes are pointed toward higher openings when the New York day session begins.

The world marketplace is still very aware of geopolitical tensions between the U.S. and North Korea, and the U.S. and Russia. U.S. Secretary of State Rex Tillerson on Wednesday afternoon took a very hard line on Iran, too. Tillerson said the days of a passive U.S. stance against regimes like Iran and North Korea are over.

The first round of the French presidential elections will be held this Sunday. The second round will be on May 7. European market watchers are getting more nervous as the French elections approach and polls show tight races. The very existence of the European Union could hinge upon elections in the European Union this year.

Markets on Thursday will be watching a few economic reports, such as initial jobless claims.

Leave a Reply

Your email address will not be published. Required fields are marked *