Key World Stock Markets Briefing
At the time of this report, Thursday, 28 July 4:25a EDT, the US major market indexes are flat to unchanged, slight Bearish Bias.
US Fed appreciated the improvements in the economy, acknowledged the diminished Southside risks, but did not change the fed funds rates, There is a minor chance of a hike in September. but the markets do not look concerned about that.
DJIA at 18472.17, -0.01% closed in the middle of the near term range of 16400-600, which may continue for the rest of this week in the absence of any fresh triggers in the US economy.
Dax at 10319.55, +0.70% is showing better than expected strength, but the price action in this resistance band of 10300-400 is going to be decisive in the near term as a failure here can push it down to 9900.
Nikkei at 16550.26, -0.69% is suffering from the muddled & mixed expectations from the BOJ meet Friday as it keeps narrowing the immediate range to 16300-800 from the earlier 16200-17000. A breakout from the range is expected Friday. Bias is Neutral.
Shanghai at 2990.69, -0.04% reacted sharply to the report of China Banking Regulatory Commission discussing stricter curbs on wealth management products. The major support of 2950-40 was tested below which the uptrend gets negated, but the bounce from the support keeps the chances of recovery to 3000+ marks open.
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