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US Market Outlook 01 Oct 2018

Posted by Tim Sholl on 01-Oct-2018 23:24:39

Stock indices look strong after a deal was finally agreed between the US and Canada on trade to replace the NAFTA and both will now join Mexico in a new agreement. Markets have strengthened as it shows that the trade disputes between countries may not be so damaging and that compromise can happen. Also news out that the UK government is willing to compromise with the EU  on checking of goods into Northern Ireland which will help the Brexit deal get over the line.

Investors are also looking at new funds being invested for start of the month / quarter / financial year . The US dollar has remained strong since the Fed rate decision last week and with employment data due out this Friday the strength of the US economy will be on show again. The ECB and the BOJ have made it very clear that interest rates will remain low and on hold for an extended time.

Latest prices are as follows:

Dow jones 26621 up 163 / S&P500 2927 up 13 / Nasdaq 100 7674 up 44.

EUR 1.1594 down 8 / GBP 1.3055 up 27 / JPY 113.95 weaker by 26 / DXY at 94.73 flat.

Gold 1187.75 down 4.00 / WTI crude oil 73.22 down 3.

Daily Chart - US Dollar Index futures - DXc1 - This market struggled to move higher today and may need to consolidate.

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Topics: Trading, Market News, US Market Outlook