Fundamental Analysis 2017.09.12 – USD Recovers from Hurricane Irma

This may be a misnomer, as actually the damage incurred by Hurricane Irma was much less than the actual damage that was estimated. This bolstered the USD and the assumption that the US economy is in a pattern of growth. The S&P 500 saw a significant increase in the area of 1.1% as a result.

Asia stocks also saw a jump – reaching a 10 year high yesterday after the threat of N. Korea’s continued aggression abided. This might not have longevity though – as the UN decided to increase sanctions against N. Korea, an action Kim Jong Un said would force retaliation. Luckily, Pyongyang seems to quiet at the moment.

Of course all of this fundamental data resulted in markets being more risk-on and offloading safe-havens they ran to during the volatility of the previous week. This caused JPY, CHF, Gold and Silver to drop. Although CHF and JPY lost infinitesimal Gold experienced a 0.31% drop and silver a 0.19% drop.

Something going around the market news networks is Apple’s announcement of a new iPhone 8 today. The reason is that Apple seems to have a heavy influence on the electronics market, with enough heft to actually effect specialty electronic component manufacturing companies’ stock price. In anticipation of today’s release AAPL stock (Apple Inc.) went up a very substantial 1.81% and is currently trading 161.50.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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