Market Wrap: Stocks, Bonds, Commodities
Australia stocks were higher after the close on Monday, as gains in the Utilities, Energy and Healthcare sectors led shares higher.
The Dow Jones Industrial Average rose 272.00 points to 34,098.16, the S&P 500 gain 0.83% to 4,169.48 and the Nasdaq Composite add 84.34 points to 12,226.58.
MSCI’s index of Asia-Pacific stocks outside Japan is advance 0.57% to 630.41 levels. The Australian index was higher by 0.35% to 7,334.60. Japanese Nikkei Index advance 0.92% today.
European stocks were positive on Monday, with the Stoxx Europe 50 Index rose 0.03% to 4,359.31, Germany’s DAX advance 0.77% to 15,922.38, and France’s CAC ascend 0.10% to 7,491.50, and U.K.’s FTSE 100 add 0.50% to 7,870.57.
Benchmark 10-year U.S. Treasury fell as demand for safe assets ascend again, today 10-year bond yields positive 0.44% to 3.4670.
Oil fell on Monday as concern over the economic impact of the U.S. Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data outweighed support from new OPEC+ supply cuts taking effect this month.
Spot Brent crude oil drop 1.94% to $78.77 per barrel. US West Texas Intermediate crude is down 2.06% to $75.22 a barrel.
The yellow metal gold is decline 0.31% to 1,992.85 dollars per ounce.
Market Wrap: Forex
The U.S. dollar edged higher in early holiday-impacted European trade Monday, at the start of a week that includes policy-setting meetings from the Federal Reserve and the European Central Bank, as well as the monthly U.S. jobs report.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which surged 0.22% to 101.620.
The Euro US Dollar (EUR/USD) is a widely traded pair that is down 0.15% today. This left the pair trading around $1.10020.
The Japanese yen was negative against the U.S. dollar on Monday. Today USD/JPY is surged 0.34% to the 136.750 level.
Another commodity-related currency mixed against the U.S dollar, AUD/USD rose 0.45% to 0.66360, and NZD/USD slipped 0.10% to 0.61770 level.
EUR/USD Intraday: Trend on the downside
Our pivot point is at 1.10100
Preferable Price Action: Take sell positions below pivot level with targets at 1.09640 & 1.09370 in extension.
Alternative Price Action: Above pivot looks for a further upside to 1.10510 & 1.10790.
Comment: RSI is below 50 levels 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
GBP/USD Intraday: Trend on the downside
Our pivot point is at 1.25390
Preferable Price Action: Sell positions below pivot with targets at 1.24960 & 1.24720 in extension.
Alternative Price Action: The price above pivot would call for further upside to 1.25740 & 1.26010.
Comment: RSI is below 50 levels 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
USD/JPY Intraday: Trend on the upside
Our pivot point is at 136.470
Preferable Price Action: Buy position above pivot with the target at 137.470 and 138.100 in extension.
Alternative Price Action: The downside breakout of the pivot would call for 135.620 and 135.050.
Comment: MACD is above 50 level and Pairs above 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 0.66350
Our pivot point is at 0.66350
Preferable Price Action: Buy positions above pivot with targets at 0.66540 & 0.66670 in extension.
Alternative Price Action: Below pivot looks for a further downside with 0.66170 & 0.66060 as targets.
Comment: RSI is above 50 levels 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
CRUDEOIL Intraday: Major trend on the downside
Our pivot point is at 75.65
Preferable Price Action: Below pivot sell oil with 74.42 & 73.59 as targets.
Alternative Price Action: Buy crude above pivot with targets at 76.84 and 77.67 in extension.
Comment: MACD is negative territory 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
XAU/USD Intraday: In a consolidation zone
Our pivot point is 1985.00
Preferable Price Action: Further downside to 1976.90 and 1972.00
Alternative Price Action: If the price gives an upside breakout of a pivot, then the price extends to 1992.60 and 1998.10.
Comment: MACD is below 50 level and Pairs below 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: Support level at 34,077.00
Our pivot point is 34,077.00
Preferable Price Action: Take buy positions above the pivot with targets at 34,288.00 & 34,436.00.
Alternative Price Action: Below 34,077.00 looks for further downside to 33,894.00 & 33,777.00.
Comment: RSI is above 50 levels and Pairs above 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