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30.10 - American stock market become the victim of USD rates decision

30.10.2019

 

All eyes are on America today. And not because of the deal and talks. Today Fed is going to announce its rate decision and the whole trading world is really worried about it. After all, if the rates are altered, we are going to have a clear sign that American economy is not doing fine. And even though we have been under this threat for a long time now and nothing has ever happened, we are still worried that there are processes that we miss and can’t understand.

Of course the biggest loser from this panic is American stock market. There are no doubts that major players are feeling all the losses and all the falls. Traders began the selloff in the segment that has been climbing for several days in a row and if this tendency is going to go on, all of the growth is going to come undone.

For example, AAPL stock has been on the highest point ever. And now the chart is slowly creeping down. We were so enjoying the growth that has been now stopped, that we are starting to question whether staying with the major names in the segment is worth the risk for now.

In the meantime, currencies are trying to get additional pricing against the greenback, while it is slightly down against the six major peers. Euro and pound are climbing as well as yen. The only currency that is not extending its growth is Canadian dollar, but the currency is going to get a lot of reports on its own, so it is only fair that it is going to keep a low profile.

Commodities are mixed, with tensions in the Middle East getting to the prices for oil – the crude is extending the fall started by it in the beginning of the week. Precious metals are very carefully growing.

Here are the main changes for today:

Topix added 0.2 percent.

Kospi lost 0.6 percent.

Shanghai Composite lost 0.45 percent.

Hang Seng from Hong Kong fell 0.55 percent.

S&P 500 futures dropped 0.1 percent.

Euro increased by 0.2 percent - $1.1113.

Pound grew 0.1 percent - $1.2871.

Yen gained 0.1 percent – 108.84 per dollar.

Canadian dollar dropped 0.25 percent - $1.3086.

Apple lost 2.3 percent - $243.29.

Facebook nudged a little lower – $189.31.

Amazon dropped 0.8 percent - $1762.71 per share.

Tesla dropped 3.5 percent - $316.22.

Google decreased 2.1 percent - $1262.62.

WTI decreased 0.6 percent - $55.22 per barrel.

Brent dropped 0.4 percent - $61.35 per barrel.

Gold added 0.05 percent - $1491.4 per ounce.

Silver increased a little bit - $17.84 per ounce.

Platinum added 0.1 percent – $922.05.