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)
- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…
- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
Market picture The crypto market capitalisation fell by 1.7% in 24 hours to $2.29 trillion,…
- USDJPY reversed from support zone - Likely to rise to resistance level 155.65 USDJPY…
- Gold reversed from support zone - Likely to rise to resistance level 2400.00 Gold…
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