Market Wrap: Stocks, Bonds, Commodities
Most Asian currencies moved little on Monday, while the dollar caught some safe haven bids after the attempted assassination of former U.S. President Donald Trump over the weekend.
The Dow Jones Industrial Average rose 247.15 points to 40,000.90, the S&P 500 gain 0.55% to 5,615.35 and the Nasdaq Composite ascend 113.58 points to 18,396.98.
MSCI’s index of Asia-Pacific stocks outside Japan is down 0.33% to 718.51 levels. The Australian index was higher by 0.73% to 8,017.60. Japanese Nikkei Index decrease 2.45% today.
European stocks were negative on Monday, with the Stoxx Europe 50 Index decrease 0.28% to 5,028.95, Germany’s DAX descend 0.22% to 18,728.55, and France’s CAC lower 0.37% to 7,695.81 and U.K.’s FTSE 100 loss 0.05% to 8,249.04.
Benchmark 10-year U.S. Treasury rose as demand for safe assets slipped again, today 10-year bond yields increase 0.58% to 4.2090.
Oil held its ground on Monday, with political uncertainty in the U.S. and the Middle East supporting prices, offsetting downward pressure from a stronger dollar and weak demand in top importer China.
Spot Brent crude oil increase 0.08% to $85.10 per barrel. US West Texas Intermediate crude is increase 0.07% to $81.08 a barrel.
The yellow metal gold is down 0.25% to 2,414.70 dollars per ounce.
Market Wrap: Forex
The dollar rose broadly on Monday and cryptocurrencies jumped as trades for a victory by Donald Trump in the upcoming U.S. elections gathered steam in the wake of an attempted assassination of the former U.S. President.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which increase 0.01% to 103.7970.
The Euro US Dollar (EUR/USD) is a widely traded pair that is either up or down 0.02% today. This left the pair trading around $1.09060.
The Japanese yen was will move either up or down against the U.S. dollar on Monday. Today USD/JPY is trades pair that either up or down 0.02% to the 157.880 level.
Another commodity-related currency mixed against the U.S dollar, AUD/USD increase 0.07% to 0.67880, and NZD/USD decrease 0.32% to 0.60980 level.
EUR/USD Intraday: Trend on the downside
Our pivot point is at 1.08960
Preferable Price Action: Take sell positions below pivot level with targets at 1.08810 & 1.08670 in extension.
Alternative Price Action: Buy pivot looks for a further upside to 1.09110 & 1.09240.
Comment: RSI is below 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 downside
Our pivot point is at 1.29790
Preferable Price Action: Sell positions below pivot with targets at 1.29470 & 1.29170 in extension.
Alternative Price Action: The price above pivot would call for further upside to 1.30110 & 1.30400.
Comment: RSI is below 50 levels and Pairs below its 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
USD/JPY Intraday: Trend on the upside
Our pivot point is at 157.990
Preferable Price Action: Buy position above pivot with the target at 158.750 and 159.440 in extension.
Alternative Price Action: The downside breakout of the pivot would call for 157.250 and 156.600.
Comment: MACD is above 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
AUD/USD Intraday: Resistance level at 0.67730
Our pivot point is at 0.67730
Preferable Price Action: Sell positions below pivot with targets at 0.67630 & 0.67550 in extension.
Alternative Price Action: Above pivot a further upside with 0.67830 & 0.67910 as targets.
Comment: RSI is below 50 levels and Pairs below its 55MA & 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
CRUDEOIL Intraday: Trend on the downside
Our pivot point is at 81.08
Preferable Price Action: Below pivot sell oil with 80.71 & 80.42 as targets.
Alternative Price Action: Buy crude above pivot with targets at 81.44 and 81.71 in extension.
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
XAU/USD Intraday: Trend on the downside
Our pivot point is 2408.10
Preferable Price Action: Further downside to 2398.20 and 2390.40.
Alternative Price Action: If the price gives an upside breakout of a pivot, then the price extends to 2318.10 and 2425.80.
Comment: MACD 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
Dow Jones Intraday: Trend on the upside
Our pivot point is 40,067.50
Preferable Price Action: Take buy positions above the pivot with targets at 40,214.00 & 40,340.60.
Alternative Price Action: Below 40,067.50 looks for further downside to 39,912.40 & 39,788.30.
Comment: RSI is above 50 levels and pairs above its 55MA & 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