Market Recap - Mixed Equities Overnight As Earnings Dictate Play

Published date: 27/07/2018
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Mixed close on Wall St. yesterday as earnings dictated the play, the Nasdaq closed lower by 1%, while, the Dow remained positive closing 0.44% higher. In the Asia Pac session, the ASX (0.89%) and Nikkei (0.49%) traded well although the Shanghai Comp. closed 0.21% lower. 

Commodities also traded mixed overnight, oil markets are slightly subdued this morning as Russia stated they are looking to increase output by 200 - 250k bpd. It's not a massive news or anything new from Russia, however, its enough to kick the day off on a negative note for spot WTI which is down 0.13%. 

Gold prices are flat so far on the session but look subdued in general. The precious metal cannot catch a break at the moment as the USDCNY correlation continues. This morning we are trading around $1223/oz and it's possible we go back to test the wave lows of $1211.65/oz.

Copper is bucking the trend, the industrial metal has gained 0.31% overnight although this comes after losing ground in yesterdays session. Zinc, lead, aluminum and tin are all in the red this morning as they cannot shake off the trade war lull. AA

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