Market Overview - Page 54

US indices have been gaining daily since the beginning of May. They have found strength amid relatively weak job reports and quite upbeat quarterly earnings. The S&P500 and Nasdaq100 indices are just 1.5% below the all-time highs set in March. .

The single currency is trading near $1.076, waiting for further cues and facing serious resistance in its attempt to consolidate above 1.08 on Friday.  On Friday, EURUSD’s growth accelerated against the trend of the previous three weeks on negative US.

The number of operating oil rigs in the US fell by 7 to 499. This is the lowest in 12 weeks and further confirmation that even with relatively favourable oil prices, producers are in no hurry to ramp up production.

USDJPY was slipping below 153 on Friday morning, a three-week low and having lost over 4.5% from a peak of 160.2 at the start of trading on Monday. Behind the pair’s rise is a long-term fundamental factor: a huge and.

The monthly ADP labour market report showed that America created 192K new jobs in April, above the forecasted 179K and following +208K in March (revised from 184K).  Overall, there was a slight slowdown in wage growth to 5% y/y from 5.1%.

Bears showed strength ahead of the FOMC decision.  U.S. indices sagged on Tuesday as investors opted to risk off. They are awaiting a tighter Fed tone following Wednesday’s meeting.  The S&P500 suffered a sell-off as it attempted to climb above.

Silver has lost 2.6% since the start of the day on Tuesday to $26.4 per ounce. After a failed attempt to climb above $30 per ounce on 7 April, the downside momentum in Silver has been replaced by sideways consolidation.

Market picture The crypto market has lost 3.3% in the last 24 hours to $2.3 trillion. The last time this level of capitalisation was on 19th April. Most worrying is the reversal of the trend from up to down last.

Even though the Bank of Japan left the key rate and parameters of the QE programme unchanged, the central bank’s inaction increased the pressure on the national currency. This resulted in USDJPY reaching 156.80 and EURJPY reaching 2007–2008 levels, which.

The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously.

Change in the Nasdaq100. The selling on the Nasdaq100 from 12 to 19 April, which sent the index down more than 7%, has stimulated buying interest this week. They see falling prices as an opportunity to buy stocks at a reduced.

The US dollar’s gains stalled last week, and on Tuesday, it lost a third of a cent against a basket of major currencies to 105.4 from a peak of 106.3 the week before.  Yesterday’s pullback more closely resembles the start.