Market Wrap: Stocks, Bonds, Commodities
The Nasdaq Composite fell for a fourth session Thursday as concerns resurfaced over the Federal Reserve’s interest rate policy path, and whether policymakers will enact another hike this year.
The Dow Jones Industrial Average rose 57.54 points to 34,500.73, the S&P 500 lose 0.32% to 4,451.14 and the Nasdaq Composite subtract 123.64 points to 13,748.83.
MSCI’s index of Asia-Pacific stocks outside Japan is decline 0.02% to 619.78 levels. The Australian index was lower by 0.20% to 7,156.70. Japanese Nikkei Index drop 1.21% today.
European stocks were negative on Friday, with the Stoxx Europe 50 Index fell 0.57% to 4,197.95, Germany’s DAX drop 0.47% to 15,645.35, and France’s CAC decline 0.46% to 7,163.13 and U.K.’s FTSE 100 subtract 0.39% to 7,413.54.
Benchmark 10-year U.S. Treasury fell as demand for safe assets ascend again, today 10-year bond yields negative 0.38% to 4.2470.
Oil prices eased on Thursday as an uncertain economic outlook for China outweighed expectations of tighter supplies from extended supply cuts in Saudi Arabia and Russia.
Spot Brent crude oil drop 0.07% to $89.88 per barrel. US West Texas Intermediate crude is down 0.21% to $86.69 a barrel.
The yellow metal gold is advance 0.24% to 1,947.25 dollars per ounce.
Market Wrap: Forex
The U.S. dollar steadied near a six-month peak in early European trade Thursday, boosted by signs of a resilient U.S. economy even as the global outlook weakened.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which slipped 0.10% to 104.920.
The Euro US Dollar (EUR/USD) is a widely traded pair that is up 0.11% today. This left the pair trading around $1.07110.
The Japanese yen was negative against the U.S. dollar on Friday. Today USD/JPY is surged 0.08% to the 147.410 level.
Another commodity-related currency positive against the U.S dollar, AUD/USD rose 0.25% to 0.63920, and NZD/USD surged 0.47% to 0.59030 level.
EUR/USD Intraday: In a consolidation zone
Our pivot point is at 1.07220
Preferable Price Action: Take sell positions below pivot level with targets at 1.06920 & 1.06750 in extension.
Alternative Price Action: Above pivot looks for a further upside to 1.07470 & 1.07660.
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
GBP/USD Intraday: Trend on the upside
Our pivot point is at 1.24850
Preferable Price Action: Buy positions above pivot with targets at 1.25280 & 1.25560 in extension.
Alternative Price Action: The price below pivot would call for further downside to 1.24460 & 1.24190.
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
USD/JPY Intraday: Support level at 147.200
Our pivot point is at 147.200
Preferable Price Action: Buy position above pivot with the target at 147.780 and 148.190 in extension.
Alternative Price Action: The downside breakout of the pivot would call for 146.730 and 146.390.
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: Trend on the upside
Our pivot point is at 0.63850
Preferable Price Action: Buy positions above pivot with targets at 0.64090 & 0.64250 in extension.
Alternative Price Action: Below pivot looks for a further upside with 0.63650 & 0.63520 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: Trend on the upside
Our pivot point is at 85.91
Preferable Price Action: Above pivot buy oil with 86.57 & 87.07 as targets.
Alternative Price Action: Sell crude below pivot with targets at 85.34 and 84.94 in extension.
Comment: MACD is positive territory 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
XAU/USD Intraday: Trend on the upside
Our pivot point is 1922.40
Preferable Price Action: Further upside to 1929.40 and 1934.70.
Alternative Price Action: If the price gives a downside breakout of a pivot, then the price extends to 1916.40 and 1912.30.
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
Dow Jones Intraday: Trend on the downside
Our pivot point is 34,518.00
Preferable Price Action: Take sell positions below the pivot with targets at 34,400.00 & 34,311.00.
Alternative Price Action: Above 34,518.00 looks for further upside to 34,625.00 & 34,705.00.
Comment: RSI is below 50 levels 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