Dollar at its weakest since Trump took office | Calamatta Cuschieri

European markets

European markets delivered a mixed bag of results during Tuesday’s trading session. The index tracking the German market, the DAX, lost 0.02% of its value as the French CAC 40 shed 0.21%. On the contrary, the FTSE 100 posted a gain of 0.91% were it now has a value of 7.522.03. Thyssenkrupp AG registered the largest gain during the day’s session on the German DAX as it saw its shares climb by more than 4%, while Lufthansa AG was among the biggest losers of the day as it lost 0.8% of its total market value.

The sovereign bond market saw yields on the ten year benchmark bonds rise in most of the Eurozone countries as the German bund now yields 0.437% while the French ten-year bond now yields 0.885%. The Italian ten-year sovereign suffered the biggest loss on Tuesday as its currently yielding 2.217% compared to Monday’s close of 2.22%. In the currency market, the Euro rose by 0.84% against the American dollar while it also posted solid gains against the British Pound by climbing 0.69%. On a year to date basis, the Euro is up by more than 9% against the Pound.

American markets

The day’s biggest winner on the American market during Tuesday’s session was AMD as its shares rose by 7.71%

The American market was marginally down during Tuesday’s trading session. The S&P 500 lost 0.01% of its total value or 0.34 points compared to the previous day’s close. The Dow Jones Industrial Average (DJIA) was marginally up by 0.09%, although the way in which the DJIA calculates its value is different from that of the S&P 500. The day’s biggest winner on the American market during Tuesday’s session was Advanced Micro Devices Inc. (AMD) as its shares rose by 7.71%. Shares in the microchip maker now trade at $12.30. Under Armour was among the day’s largest losers as its share price declined by 4.39% as 4.64 million shares traded hands during the trading session.

The US ten-year treasury saw its yield fall to 2.326% on Tuesday as prices rose by 0.15%. Crude oil saw its price stabilise around the $48.84 level. Gold registered a price increase of around half a percent as it was trading at $1,237.20 during the session. The biggest story of the day came as the dollar index, which is an index that measures the value of the dollar relative to the value of a basket of currencies, was down by 0.68% and stood at 98.24. The Greenback lost 0.12% against the British Pound and half a percent against the Japanese Yen.

Disclaimer:

This article was issued by Simon Gauci Borda, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.