Market overview
Futures on the SP500 add 1.2% before the start of the New York session after the index rose 0.4% a day earlier. VIX decreases and again below 40. DAX, CAC40 add about 2% each, FTSE100 strengthened by 1.7%.
DXY adds the second day due to the weakness of the euro. Commodity currencies are leading the growth against USD so far today. EURUSD fell to 1.0820, rolling back from above 1.10 on Friday, as a German court called the current QE form unconstitutional, giving ECB three months for correction.
Gold continues to ply around $ 1,700. The recovery in demand for risky assets caused some pressure on quotes.
Brent in the spot market is testing the $30 mark, adding 6.7% since the beginning of the day and approaching the levels of 2 weeks ago.
Market increased purchases after last week’s slump reflect a recovery in demand for risky assets.
Important events for May 6, GMT (Exp.):
08:00 EA !! Final Services PMI (Apr, 11.7) 09:00 EA !! Retail Sales (Mar, -9.0% y/y) 12:15 US !!! ADP Non-Farm Employment (Apr, -20M) 14:30 US !! Crude Oil Inventories (last week)
- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…
- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…
The recent declines in US indices may have broken the bullish trend, indicated by technical…
The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…
Bitcoin finds support near the 50-day moving average, but further declines in the stock market…
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
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