S&P 500 Futures stays depressed near monthly low, flashed the previous day. Wall Street kept the red despite upbeat US Treasury yields. Israel-Palestine tussle, mixed covid vaccine updates add to the risk-off mood. S&P 500 Futures take offers around 4,135, down 0.25% intraday, during the early Wednesday. The risk barometer dropped to the lowest since
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S&P 500 Futures drop for the second consecutive day. Uncertainty over Fed’s future action amid heavy stimulus troubles traders. Pre-US CPI cautious mood, light macro also weigh on the mood. S&P 500 Futures take offers around 4,150, down 0.75% intraday, as market sentiment remains sour during early Tuesday. In doing so, the risk barometer follows
NZD/USD extends bounce off intraday low, stays pressure for the second consecutive day. China CPI lagged behind upbeat expectations but PPI jumped to the highest since October 2017. Market sentiment dwindles amid reflation fears, stimulus hopes and a light macro feed. NZD/USD trims intraday losses to 0.21% while picking up bids around 0.7265 during early
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S&P 500 Futures stay on the front-foot while refreshing all-time high. NFP smashed chatters relating to Fed tapering, rate hikes. EU signs vaccine deal, Australia’s NSW is also up for Pfizer-BioNTech jabs soon. Mixed oil headlines and a light calendar keeps market less active. S&P 500 Futures print four-day uptrend while refreshing record top with
In another encouraging vaccine development from the Old Continent, European Commission President Ursula von der Leyen announced on Saturday that the EU has struck a deal with BioNTech/Pfizer for up to 1.8 billion extra doses of their Covid-19 vaccine. “Happy to announce that the EU Commission has just approved a contract for guaranteed 900 million
Gold bulls have eyes on a 61.8% Fibo monthly target of $1,850. Shorter-term, the bears can target at least a drift to a 38.2% Fibo at 1.807 or the daily support, near $1,800. Will NFP be the catalyst to test the commitments at $1,820/25 on a soft US dollar? Update: Gold retreated from fresh three-month highs
GBP/USD spikes to over one-week tops, around 1.3970 on weaker NFP report The GBP/USD pair caught some aggressive bets during the early North American session and shot to over one-week tops, around the 1.3970 region in reaction to the dismal US jobs report. The headline NFP showed that the US economy added only 266K new
Equity markets shrug off a shocking jobs report to rally anyway. No news is good news, bad news is good news as the dip dominates. Bears have been hibernating and face possible extinction. Well after a fairly sluggish start to the week things certainly sprang to life on Friday as a brutal employment report was
NZD/USD bulls catch a breather around the intraday top. China data, risk-on mood favor buyers to confirm the bullish chart pattern. Pre-NFP trading lulls battles sustained trading above 200-SMA to confuse traders. Having recently jumped to 0.7244, NZD/USD eases to 0.7238 while flirting with the neckline of a short-term head-and-shoulders bullish pattern during early Friday.
Gold has broken above the $1,800 mark, hitting the highest levels since February. The Confluence Detector is showing that XAU/USD has very few barriers through $1,850. Update: Gold Price Analysis: XAU/USD bulls eye $1,850 after surging above $1,800 – Confluence Detector It has finally happened – Gold has staged a convincing break above the $1,800, hitting
In its latest report, Goldman Sachs cites expected weakness of iron ore, Australia’s key export, to weigh on AUD/USD prices in the next 12 months.”In addition to potentially lower front-end pricing, weaker iron ore prices may weigh on AUD/USD. Despite their recent surge, our commodity strategists expect that iron prices will fall over the next
The economic growth in the US may be faster than what the FOMC policymakers projected in March, Fed Governor Michelle Bowman said on Wednesday, as reported by Reuters. Additional takeaways “Unemployment rate by year’s end may be below the current Fed median projection of 4.5%.” “Still seeing a small risk of persistent inflation outbreak despite increases
The Australian government has suspended its plans to fast track tax cuts for the wealthy, as the post-pandemic recovery is faster-than-expected, an Australian daily reported, citing unidentified sources. Additional takeaways “The government has ruled out including tax cuts for high-income earners in next week’s federal budget.” “It will instead extend tax cuts for low and
USD/CHF bears about to jump in as price tests resistance. Bears looking for downside extension from daily resistance. USD/CHF is testing the bear’s commitments in Asia with prospects of a downside continuation of failures by the bulls to break the grip of the bears. The chart is showing a dominant downtrend, so the tred is your friend