As is usually the case on the first trading day of the week, today’s markets have been relatively quiet. However that’s not necessarily a bad thing because at least the markets haven’t given back any of last week’s gains so far. Plus we have had some positive housing data to give us confidence going forward.

It was announced earlier that new homes sales in the US were up 38,000 on last month at 384,000 (which was 31,000 ahead of analyst expectations).

The markets liked this news initially but since then they have edged downwards but they are still pretty much unchanged as we approach the closing bell. The Dow Jones is currently 14 points lower at 9079 whilst the S&P 500 is unchanged at 979 and the Nasdaq is down 5 at 1961.

In Europe the markets were a little more bullish but the gains were still relatively small. The FTSE 100, DAX and CAC 40 posted gains of 0.21%, 0.42% and 0.18% to close the day at 4586.13, 5251.55 and 3372.36 respectively.

Meanwhile on the currency markets both the GBP/USD and EUR/USD have been fairly uneventful but they did manage to edge higher as they currently trade at 1.6491 and 1.4235. The USD/JPY has also edged higher and is back above the $95 level at 95.18.

On the commodity markets the stalemate in both gold and oil continues as the price of both remains pretty much unchanged. The price of crude oil is currently $68.22 and the price of gold is currently $956.

 

 

Filed under: Market News

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