Market Wrap: Stocks, Bonds, Commodities
U.S. stocks ended a whipsaw session slightly lower on Thursday, as investors juggled signs of peaking inflation with fears that it could remain elevated, prompting ever more aggressive tightening from the Federal Reserve.
The S&P 500 lose (0.13%) ended at 3,930.08 points, while the Nasdaq Composite up 0.06% to 11,370.96. The Dow Jones Industrial was fell 0.33% to 31,730.30.
MSCI’s index of Asia-Pacific stocks outside Japan is ascend 1.75% to 640.44 levels. Australian index higher 1.93% to 7,075.10. Japanese Nikkei Index ascend 2.64% to 26,427.65.
European stocks were positive on Friday, with the Stoxx Europe 50 Index gain 1.34% to 3,660.85, Germany’s DAX ascend 1.10% to 13,884.53, and France’s CAC up 1.22% to 6,282.59, and U.K.’s FTSE 100 increase 1.31% to 7,328.10.
Benchmark 10-year U.S. Treasury fell as demand for safe assets ascend again, today 10-year bond yields a positive 2.9240.
Oil prices firmed in early trade on Friday but were headed for their first weekly losses in three weeks as worries about inflation and China’s COVID lockdowns slowing global growth outweighed concerns about dwindling fuel supply from Russia.
Spot Brent crude oil rose 0.95% to $108.52 per barrel. US West Texas Intermediate crude is up 0.74% to $106.88 a barrel.
The yellow metal gold is drop 0.08% to 1,823.94 dollars per ounce.
Market Wrap: Forex
The dollar was down on Friday morning in Asia but remains near a 20-year high. Persistent global economic worries gave the dollar support.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which is a fell of 0.30% to 104.578.
The Euro US Dollar (EUR/USD) is a widely traded pair that is up 0.33% today. This left the pair trading around $1.04130.
The Japanese yen was positive against the U.S. dollar on Friday as the stock up. Today USD/JPY is gain 0.36% to 128.800 level.
Another commodity-related currency positive against the U.S dollar, AUD/USD ascend 0.66 to 0.68990, and NZD/USD higher 0.36% to 0.62520 level.
EUR/USD Intraday: May Trend Reverse from 1.03900
Our pivot point is at 1.03900
Preferable Price Action: Take buy positions above pivot level with targets at 1.04870 & 1.05800 in extension.
Alternative Price Action: Below pivot looks for a further downside to 1.03050 & 1.02290.
Comment: RSI above 50 levels and Pair 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: Major Support Level at 1.22060
Our pivot point is at 1.22060
Preferable Price Action: Buy positions above pivot with targets at 1.23200 & 1.24070 in extension.
Alternative Price Action: The price below pivot would call for further downside to 1.21160 & 1.20350.
Comment: RSI above 50 levels pair 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
USD/JPY Intraday: Trend on The Downside
Our pivot point is at 127.300
Preferable Price Action: Sell position below pivot with the target at 127.660 and 126.240 in extension.
Alternative Price Action: The upside breakout of the pivot would call for 130.750 and 132.000.
Comment: MACD is negative territory and pair 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: Trend on The Upside
Our pivot point is at 0.68630
Preferable Price Action: Buy Positions above pivot with targets at 0.69610 & 0.70430 in extension.
Alternative Price Action: Below pivot looks for a further downside with 0.67820 & 0.67100 as targets.
Comment: RSI above 50 levels and Pair 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: In a Consolidation Zone
Our pivot point is at 104.60
Preferable Price Action: Above pivots Buy oil with 108.85 & 112.74 as targets.
Alternative Price Action: Sell crude below pivot with targets at 100.58 and 96.91 in extension.
Comment: MACD is in the flat territory and Pair 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: In a Consolidation Zone
Our pivot point is 1836.80
Preferable Price Action: Further downside to 1803.80 and 1777.80.
Alternative Price Action: If the price gives an upside breakout of a pivot, then the price extends to 1865.70 and 1888.20.
Comment: MACD is negative territory and pair 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: Trend on The Upside
Our pivot point is 31,756.00
Preferable Price Action: Take Buy positions above pivot with targets at 32,365.00 & 32,831.00.
Alternative Price Action: Below 31,756.00 looks for further downside to 31,253.00 & 30,819.00.
Comment: RSI above 50 levels and Pair 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