Stock market snapshot as of [04/07/2019 0500 GMT]
- Ahead of the European opening session, Asian stocks may have ended their 2-day minor consolidation phase and resumed their respective medium-term uptrend as most of them have started to show modest gains as at today’s Asian mid-session.
- The star performer for the 2nd consecutive day is Australia’s ASX 200 that has rallied by 0.50% led by the Big Four banks; CBA, ANZ, NAB and Westpac that have gained by more than 1% each. The next medium-term resistance to watch for the ASX 200 will be at the 6815/50 zone which also coincides with its all-time high level printed in Oct 2007 before the Great Financial Crisis.
- European stock indices CFD futures are showing a mix picture at this juncture with minor economic data releases later and a full day closure today in the U.S. for the Independence Day holiday before the release of the key U.S. nonfarm payrolls data on Fri, 05 Jul. The FTSE 100 is almost unchanged while the German DAX is up by 0.11%.
*Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.