Market Overview - Page 59

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 After a failed attempt to climb above $30 per ounce on 7 April, the downside momentum in Silver has been replaced by sideways consolidation.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.

Boosted interest in the Euro emerged after preliminary PMI estimates showed a surprising acceleration in the services sector, which was able to offset the negativity from industrial weakness significantly. Both France (46.2 to 44.9) and Germany (41.9 to 42.2) saw.

Gold is under pressure this week, having pulled back to the $2300 per troy ounce level. The decline since Friday’s close is over 3.7%. The formal trigger is a more moderate escalation in the Palestinian-Israeli conflict than expected at the.

Oil prices have retreated to their lowest levels since late March, approaching a critical support level.  WTI barrels dipped to $80.60 early on Monday. The price found support at the $80.0-$80.50 zone a month ago before accelerating higher and breaking.

The US dollar is losing 0.2% since the start of the day on Wednesday against a basket of major currencies, signalling traders’ eagerness to lock in some profits after a 2.5% rally over the previous seven days.  Interestingly, dollar fatigue.