Market Wrap: Stocks, Bonds, Commodities
US stocks fell on Friday, led by technology-related mega caps that have propelled this year’s rally, while investors weighed the interest rate outlook ahead of next week’s Federal Reserve meeting.
The Dow Jones Industrial Average fell 190.89 points to 38,714.77, the S&P 500 lose 0.65% to 5,117.09 and the Nasdaq Composite slipped 155.35 points to 15,973.17.
MSCI’s index of Asia-Pacific stocks outside Japan is advance 0.36% to 654.00 levels. The Australian index was higher by 0.07% to 7,675.80. Japanese Nikkei Index ascend 2.53% today.
European stocks were positive on Monday, with the Stoxx Europe 50 Index rose 0.18% to 4,997.95, Germany’s DAX ascend 0.41% to 17,997.55, and France’s CAC advance 0.08% to 8,170.85 and U.K.’s FTSE 100 add 0.16% to 7,739.02.
Benchmark 10-year U.S. Treasury fell as demand for safe assets drop again, today 10-year bond yields positive 0.21% to 4.313.
Oil prices ticked up in early Asian trading on Monday, firming up gains from last week when prices rose nearly 4% on the view that supply was tightening.
Spot Brent crude oil ascend 0.87% to $86.08 per barrel. US West Texas Intermediate crude is up 0.96% to $81.35 a barrel.
The yellow metal gold is decline 0.15% to 2,158.10 dollars per ounce.
Market Wrap: Forex
Most Asian currencies kept to a tight range on Monday, while the dollar steadied near two-week highs as focus turned squarely to a swathe of central bank meetings helmed by the Bank of Japan and Federal Reserve.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which slipped 0.04% to 103.030.
The Euro US Dollar (EUR/USD) is a widely traded pair that is up 0.12% today. This left the pair trading around $1.0900.
The Japanese yen was positive against the U.S. dollar on Monday. Today USD/JPY is surged 0.13% to the 149.220 level.
Another commodity-related currency positive against the U.S dollar, AUD/USD rose 0.14% to 0.6569, and NZD/USD surged 0.27% to 0.6096 level.
EUR/USD Intraday: Major support level at 1.08840
Our pivot point is at 1.08840
Preferable Price Action: Take buy positions above pivot level with targets at 1.09020 & 1.09150 in extension.
Alternative Price Action: Below pivot looks for a further downside to 1.08660 & 1.08540.
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 1.27310
Preferable Price Action: Buy positions above pivot with targets at 1.27530 & 1.27710 in extension.
Alternative Price Action: The price below pivot would call for further downside to 1.27090 & 1.26930.
Comment: RSI at 50 levels 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
USD/JPY Intraday: Trend on the upside
Our pivot point is at 149.000
Preferable Price Action: Buy position above pivot with the target at 149.550 and 149.940 in extension.
Alternative Price Action: The downside breakout of the pivot would call for 148.430 and 148.020.
Comment: MACD 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
AUD/USD Intraday: Trend on the upside
Our pivot point is at 0.65610
Preferable Price Action: Buy positions above pivot with targets at 0.65800 & 0.65960 in extension.
Alternative Price Action: Below pivot looks for a further downside with 0.65420 & 0.65270 as targets.
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
CRUDEOIL Intraday: Trend on the upside
Our pivot point is at 80.70
Preferable Price Action: Above pivot buy oil with 81.67 & 82.43 as targets.
Alternative Price Action: Sell crude below pivot with targets at 79.73 and 78.98 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: Trend on the downside
Our pivot point is 2150.40
Preferable Price Action: Further downside to 2141.70 and 2135.50.
Alternative Price Action: If the price gives an upside breakout of a pivot, then the price extends to 2159.40 and 2166.40.
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 upside
Our pivot point is 38,726.20
Preferable Price Action: Take buy positions above the pivot with targets at 38,862.30 & 38,973.30.
Alternative Price Action: Below 38,726.20 looks for further downside to 38,578.20 & 38,463.20.
Comment: RSI is above 50 levels 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