US stocks traded at higher prices and the Dow Jones index added values to last week's level, recording the 9th consecutive session with growth and a new historic maximum at 22,118 points, which is 0.12 per cent more than closing at Friday. The S & P 500 climbed 0.16% to 2 480 points, the first record high since July 26, and the Nasdaq technology index surpassed the opening level by 0.51% and ended the day at 6 383 points.
European exchanges failed to follow the upward trend on world exchanges, with the Old Continent dominating mixed trading. Europe's blue chips sent the DAX index to red territory down 0.33 percent to 12,257 points while in the UK FTSE 100 beat market pressure and added 0.27 percent to almost 7,532 points. Negative results were the new sanctions imposed on North Korea, which would deprive the country of about $ 3 billion of annual export earnings. The worries about oil extraction from the OPEC and the US have been on the market, and this has led to a fall in the cost of raw materials. US oil was down 0.40% below $ 50 a barrel, while Brent dropped 0.13 percent to $ 52.26 a barrel. The price of gold was volatile on the first day of the week and the precious metal traded in narrow limits. At the end of the day sales were over and the market price reached $ 1 257.70 per troy ounce.
Economic data - China
China publishes trade data for July at around 6:00 am. The report was expected to show that the country's trade surplus has risen to $ 46.08 billion last month against a surplus of $ 42.77 billion in June. Actual data show a surge in trade surplus of $ 46.74 billion, which is more than predicted. It is assumed that exports will rise by 10.9% in July compared to a year earlier, after a 11.3% surge a month ago, but the real increase was 7.2%. Imports were expected to grow 16.6% after an increase of 17.2% in June, but the current figures show an increase of 11%.
Nucor Corporation
The steel maker is a good investment with a reliable dividend policy, but on the technical side, the market allows trade in the range, with any rebound from the $ 52 support line being a potential entry into a long position for values over $ 60. Breaking over the upper limit of the channel would lead to a rapid appreciation to values close to $ 70 per share.
USD / JPY
The currency pair USD / JPY shows the first signals of the downward movement reversal. After a strong impulse movement, the dollar rises above the downward trendline and breaks the 50-year average, where consolidation begins and, we think, preparing for a new appreciation. The RSI indicator is over 50%, which supports our expectations for future appreciation. When overcoming the resistance around 111.00, the goal of 111.70 / 120.00 should be reached. Returning quotes below 110.50 will override the analysis and resume the downward movement.
XAG / USD
The movements of silver outline a downward channel where there is a false breakthrough of the upper line of resistance and rebounding from it. Additional resistance is the 50-day average that puts pressure on the price of the metal. The Stochastic indicator is near the over-sold market, so we need to wait for a new rise cycle, where the price remains limited by the top line of the channel and the moving average. This will give us confirmation that buyers are weak and can go into a short position for values of around $ 15 per troy ounce.
DAX
Since mid-June, the German index has adjusted for long-term rise and is below the 50-day average. The MACD technical indicator forms a hidden divergence, which is a trend-turning formation, and signals that it may follow a revival of the upward trend. The more aggressive of you may end up in a long position when rebounding from the channel support line but it is advisable to wait for a breakthrough over the canal and a test to confirm the downward trend reversal.
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