Market Wrap: Stocks, Bonds, Commodities
U.S. stock futures were little changed on Thursday night. Dow Jones Industrial Average futures rose 26 points, or 0.08 percent.
The Dow Jones Industrial Average fell 221.82 points to 33,309.51, the S&P 500 lose 0.17% to 4,130.62 and the Nasdaq Composite add 22.07 points to 12,328.51.
MSCI’s index of Asia-Pacific stocks outside Japan is decline 0.69% to 625.33 levels. The Australian index was higher by 0.07% to 7,256.70. Japanese Nikkei Index advance 0.90% today.
European stocks were positive on Friday, with the Stoxx Europe 50 Index rose 0.67% to 4,338.75, Germany’s DAX advance 0.52% to 15,918.55, and France’s CAC ascend 0.94% to 7,451.13 and U.K.’s FTSE 100 add 0.44% to 7,764.85.
Benchmark 10-year U.S. Treasury fell as demand for safe assets ascend again, today 10-year bond yields positive 0.23% to 3.4050.
Oil prices dropped on Thursday as a political standoff over the U.S. debt ceiling triggered recession jitters in the world’s biggest oil consumer, where rising jobless claimed also weighed on sentiment.
Spot Brent crude oil drop 0.71% to $74.45 per barrel. US West Texas Intermediate crude is down 0.61% to $70.42 a barrel.
The yellow metal gold is decline 0.42% to 2,012.30 dollars per ounce.
Market Wrap: Forex
The U.S. dollar edged lower in early European trade Friday, handing back some overnight gains, while sterling edged higher after the release of first quarter U.K. growth data.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which surged 0.05% to 101.920.
The Euro US Dollar (EUR/USD) is a widely traded pair that is down 0.05% today. This left the pair trading around $1.09100.
The Japanese yen was negative against the U.S. dollar on Friday. Today USD/JPY is surged 0.17% to the 134.770 level.
Another commodity-related currency negative against the U.S dollar, AUD/USD fell 0.69% to 0.67320, and NZD/USD slipped 0.79% to 0.62480 level.
EUR/USD Intraday: Support level at 1.09220
Our pivot point is at 1.09220
Preferable Price Action: Take buy positions above pivot level with targets at 1.09540 & 1.09770 in extension.
Alternative Price Action: Below pivot looks for a further downside to 1.08930 & 1.08720.
Comment: RSI is above 50 levels and Pairs above 20MA.
Green Lines Indicate Resistance Levels – Red Lines Indicate Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
GBP/USD Intraday: Trend on the upside
Our pivot point is at 1.25200
Preferable Price Action: Buy positions above pivot with targets at 1.25660 & 1.25990 in extension.
Alternative Price Action: The price below pivot would call for further downside to 1.24810 & 1.24450.
Comment: RSI is above 50 levels and Pairs above 20MA.
Green Lines Indicate Resistance Levels – Red Lines Indicate Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
USD/JPY Intraday: Trend on the upside
Our pivot point is at 134.770
Preferable Price Action: Buy position above pivot with the target at 135.190 and 135.450 in extension.
Alternative Price Action: The downside breakout of the pivot would call for 134.390 and 134.140.
Comment: MACD is above 50 level and Pairs above its 20MA & 55MA.
Green Lines Indicate Resistance Levels – Red Lines Indicate Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
AUD/USD Intraday: Support level at 0.66940
Our pivot point is at 0.66940
Preferable Price Action: Buy positions above pivot with targets at 0.67310 & 0.67550 in extension.
Alternative Price Action: Below pivot looks for a further downside with 0.66640 & 0.66380 as targets.
Comment: RSI is above 50 levels and Pairs above 20MA.
Green Lines Indicate Resistance Levels – Red Lines Indicate Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
CRUDEOIL Intraday: In a consolidation zone
Our pivot point is at 71.20
Preferable Price Action: Below pivot sell oil with 69.91 & 69.15 as targets.
Alternative Price Action: Buy crude above pivot with targets at 72.27 and 72.99 in extension.
Comment: MACD is flat territory and Pairs below 20MA.
Green Lines Indicate Resistance Levels – Red Lines Indicate Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
XAU/USD Intraday: Trend on the downside
Our pivot point is 2014.30
Preferable Price Action: Further downside to 2004.70 and 1998.80
Alternative Price Action: If the price gives an upside breakout of a pivot, then the price extends to 2023.30 and 2030.50.
Comment: MACD is below 50 level and Pairs below its 20MA & 55MA.
Green Lines Indicate Resistance Levels – Red Lines Indicate Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
Dow Jones Intraday: Trend on the upside
Our pivot point is 33,365.00
Preferable Price Action: Take buy positions above the pivot with targets at 33,506.00 & 33,605.00.
Alternative Price Action: Below 33,365.00 looks for further downside to 33,227.00 & 33,136.00.
Comment: RSI is above 50 levels and Pairs above 20MA.
Green Lines Indicate Resistance Levels – Red Lines Indicate Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced