Market Wrap: Stocks, Bonds, Commodities
US stock futures were little changed Sunday night after the major averages kicked off 2024 with a down week, as traders look ahead to inflation data and big bank earnings in the week ahead.
The Dow Jones Industrial Average rose 25.77 points to 37,466.11, the S&P 500 gain 0.18% to 4,697.24 and the Nasdaq Composite add 13.77 points to 14,524.07.
MSCI’s index of Asia-Pacific stocks outside Japan is decline 0.82% to 620.33 levels. The Australian index was lower by 0.50% to 7,451.50. Japanese Nikkei Index asceend 0.27% today.
European stocks were negative on Monday, with the Stoxx Europe 50 Index fell 0.24% to 4,463.45, Germany’s DAX drop 0.14% to 16,594.21, and France’s CAC decline 0.40% to 7,420.69 and U.K.’s FTSE 100 subtract 0.43% to 7,420.69.
Benchmark 10-year U.S. Treasury fell as deman for safe assets ascend again, today 10-year bond yields positive 0.42% to 4.0540.
Oil prices gained on Friday, as U.S. Secretary of State Antony Blinken prepared to visit the Middle East to try and prevent the Israel-Gaza conflict from widening.
Spot Brent crude oil drop 1.19% to $77.82 per barrel. US West Texas Intermediate crude is down 1.35% to $72.81 a barrel.
The yellow metal gold is decline 0.66% to 2,036.45 dollars per ounce.
Market Wrap: Forex
The U.S. dollar gained in early European trade Friday, on course for its strongest week since July ahead of the release of the widely-watched monthly official jobs report.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which slipped 0.03% to 102.102.
The Euro US Dollar (EUR/USD) is a widely traded pair that is up 0.05% today. This left the pair trading around $1.09470.
The Japanese yen was negative against the U.S. dollar on Monday. Today USD/JPY is slipped 0.26% to the 144.260 level.
Another commodity-related currency mixed against the U.S dollar, AUD/USD fell 0.04% to 0.67100, and NZD/USD surged 0.05% to 0.62420 level.
EUR/USD Intraday: Support level at 1.09370
Preferable Price Action: Take buy positions above pivot level with targets at 1.09670 & 1.09890 in extension.
Alternative Price Action: Below pivot looks for a further downside to 1.09100 & 1.08920.
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
GBP/USD Intraday: In a consolidation zone
Our pivot point is at 1.27030
Preferable Price Action: Buy positions above pivot with targets at 1.27290 & 1.27500 in extension.
Alternative Price Action: The price below pivot would call for further downside to 1.26800 & 1.26640.
Comment: RSI is at 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
USD/JPY Intraday: Trend on the downside
Our pivot point is at 144.560
Preferable Price Action: Sell position below pivot with the target at 143.830 and 143.350 in extension.
Alternative Price Action: The upside breakout of the pivot would call for 145.170 and 145.660.
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
AUD/USD Intraday: In a consolidation zone
Our pivot point is at 0.67190
Preferable Price Action: Buy positions above pivot with targets at 0.67510 & 0.67720 in extension.
Alternative Price Action: Below pivot looks for a further downside with 0.66880 & 0.66710 as targets.
Comment: RSI is at 50 levels.
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: Trend on the downside
Our pivot point is at 73.07
Preferable Price Action: Below pivot sell oil with 72.31 & 71.78 as targets.
Alternative Price Action: Buy crude above pivot with targets at 73.71 and 74.23 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: Trend on the downside
Our pivot point is 2036.80
Preferable Price Action: Further downside to 2025.00 and 2018.50.
Alternative Price Action: If the price gives an upside breakout of a pivot, then the price extends to 2047.10 and 2054.70.
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 downside
Our pivot point is 37,356.00
Preferable Price Action: Take sell positions below the pivot with targets at 37,247.00 & 37,189.00.
Alternative Price Action: Above 37,356.00 looks for further upside to 37,450.00 & 37,511.00.
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