Market Wrap: Stocks, Bonds, Commodities
Australia stocks were lower after the close on Friday, as losses in the Utilities, Energy and Financials sectors led shares lower.
The Dow Jones Industrial Average fell 220.33 points to 33,897.94, the S&P 500 lose 0.81% to 4,347.35 and the Nasdaq Composite subtract 128.97 points to 13,521.45.
MSCI’s index of Asia-Pacific stocks outside Japan is decline 0.93% to 599.45 levels. The Australian index was higher by 0.55% to 6,976.50. Japanese Nikkei Index drop 0.16% today.
European stocks were positive on Friday, with the Stoxx Europe 50 Index rose 1.24% to 4,230.25, Germany’s DAX ascend 0.81% to 15,352.54, and France’s CAC advance 1.11% to 7,112.67 and U.K.’s FTSE 100 add 0.73% to 7,455.46.
Benchmark 10-year U.S. Treasury fell as demand for safe assets ascend again, today 10-year bond yields negative 0.19% to 4.6240.
Oil prices edged up on Thursday as markets shrugged off deflationary indicators in China and looked for further clues on the status of demand from the world’s two biggest oil consumers.
Spot Brent crude oil ascend 0.51% to $80.43 per barrel. US West Texas Intermediate crude is up 0.42% to $76.06 a barrel.
The yellow metal gold is decline 0.47% to 1,960.75 dollars per ounce.
Market Wrap: Forex
The U.S. dollar edged lower in early European trade Wednesday, handing back some of the previous session’s gains, but activity is limited as traders look for more monetary policy cues from speeches by a series of central bankers, including Fed Chair Jerome Powell.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which surged 0.03% to 105.810.
The Euro US Dollar (EUR/USD) is a widely traded pair that is down 0.03% today. This left the pair trading around $1.06610.
The Japanese yen was negative against the U.S. dollar on Friday. Today USD/JPY is surged 0.07% to the 151.440 level.
Another commodity-related currency mixed against the U.S dollar, AUD/USD fell 0.05% to 0.63610, and NZD/USD surged 0.07% to 0.58970 level.
EUR/USD Intraday: Trend on the downside
Our pivot point is at 1.06760
Preferable Price Action: Take sell positions below pivot level with targets at 1.06540 & 1.06420 in extension.
Alternative Price Action: Above pivot looks for a further upside to 1.06940 & 1.07080.
Comment: RSI is below 50 levels 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
GBP/USD Intraday: Trend on the downside
Our pivot point is at 1.22510
Preferable Price Action: Sell positions below pivot with targets at 1.22040 & 1.21760 in extension.
Alternative Price Action: The price above pivot would call for further upside to 1.22920 & 1.23190.
Comment: RSI is below 50 levels 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
USD/JPY Intraday: Major trend on the upside
Our pivot point is at 151.270
Preferable Price Action: Buy position above pivot with the target at 151.590 and 151.820 in extension.
Alternative Price Action: The downside breakout of the pivot would call for 151.000 and 150.800.
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 downside
Our pivot point is at 0.63770
Preferable Price Action: Sell positions below pivot with targets at 0.63430 & 0.63230 in extension.
Alternative Price Action: Above pivot looks for a further upside with 0.64070 & 0.64290 as targets.
Comment: RSI is below 50 levels 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
CRUDEOIL Intraday: Trend on the upside
Our pivot point is at 75.78
Preferable Price Action: Above pivot buy oil with 77.15 & 77.92 as targets.
Alternative Price Action: Sell crude below pivot with targets at 74.74 and 74.10 in extension.
Comment: MACD is positive territory 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
XAU/USD Intraday: In a consolidation zone
Our pivot point is 1960.40
Preferable Price Action: Further downside to 1951.00 and 1945.40.
Alternative Price Action: If the price gives an upside breakout of a pivot, then the price extends to 1968.80 and 1974.30.
Comment: MACD is at 50 level 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
Dow Jones Intraday: In a consolidation zone
Our pivot point is 33,932.00
Preferable Price Action: Take buy positions above the pivot with targets at 34,011.00 & 34,067.00.
Alternative Price Action: Below 33,932.00 looks for further downside to 33,866.00 & 33,816.00.
Comment: RSI is flat 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