Market Wrap: Stocks, Bonds, Commodities
U.S. equity futures opened little changed on Tuesday evening, heading into the shortened Thanksgiving holiday week with all of the major averages coming off of their third straight winning performance.
The Dow Jones Industrial Average rose 1.81 points to 34,947.28, the S&P 500 gain 0.13% to 4,514.02 and the Nasdaq Composite add 11.81 points to 14,125.48.
MSCI’s index of Asia-Pacific stocks outside Japan is advance 0.79% to 620.32 levels. The Australian index was higher by 0.13% to 7,058.40. Japanese Nikkei Index drop 0.64% today.
European stocks were mixed on Tuesday, with the Stoxx Europe 50 Index fell 0.01% to 4,340.45, Germany’s DAX drop 0.03% to 15,914.45, and France’s CAC advance 0.30% to 7,255.44 and U.K.’s FTSE 100 subtract 0.24% to 7,486.50.
Benchmark 10-year U.S. Treasury fell as demand for safe assets ascend again, today 10-year bond yields positive 0.11% to 4.4480.
Oil prices rose on Friday, a day after sinking 5% to a four month-low on growing worries about burgeoning non-OPEC supply and cooling demand.
Spot Brent crude oil ascend 0.58% to $81.09 per barrel. US West Texas Intermediate crude is up 0.66% to $76.54 a barrel.
The yellow metal gold is advance 0.21% to 1,980.50 dollars per ounce.
Market Wrap: Forex
The U.S. dollar fell to a more than two-month low in early European trade Tuesday, adding to last week’s sharp losses on increased expectations that the Federal Reserve has completed its rate-hiking cycle.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which slipped 0.37% to 103.407.
The Euro US Dollar (EUR/USD) is a widely traded pair that is up 0.22% today. This left the pair trading around $1.09300.
The Japanese yen was negative against the U.S. dollar on Tuesday. Today USD/JPY is slipped 0.86% to the 148.310 level.
Another commodity-related currency positive against the U.S dollar, AUD/USD rose 0.78% to 0.65590, and NZD/USD surged 0.84% to 0.60380 level.
EUR/USD Intraday: Trend on the upside
Our pivot point is at 1.09050
Preferable Price Action: Take buy positions above pivot level with targets at 1.09560 & 1.09890 in extension.
Alternative Price Action: Below pivot looks for a further downside to 1.08670 & 1.08370.
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: Support level at 1.24640
Our pivot point is at 1.24640
Preferable Price Action: Buy positions above pivot with targets at 1.25180 & 1.25540 in extension.
Alternative Price Action: The price below pivot would call for further downside to 1.24170 & 1.23830.
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
USD/JPY Intraday: Trend on the downside
Our pivot point is at 149.420
Preferable Price Action: Sell position below pivot with the target at 148.780 and 148.390 in extension.
Alternative Price Action: The upside breakout of the pivot would call for 149.920 and 150.310.
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
AUD/USD Intraday: Major trend on the upside
Our pivot point is at 0.65390
Preferable Price Action: Buy positions above pivot with targets at 0.65780 & 0.66000 in extension.
Alternative Price Action: Below pivot looks for a further downside with 0.65050 & 0.64830 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: Major trend on the upside
Our pivot point is at 76.14
Preferable Price Action: Above pivot buy oil with 77.52 & 78.46 as targets.
Alternative Price Action: Sell crude below pivot with targets at 75.01 and 74.22 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: Resistance level at 1983.70
Our pivot point is 1983.70
Preferable Price Action: Further downside to 1975.80 and 1970.50.
Alternative Price Action: If the price gives an upside breakout of a pivot, then the price extends to 1991.20 and 1995.90.
Comment: MACD is below 50 level 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
Dow Jones Intraday: Trend on the downside
Our pivot point is 34,973.00
Preferable Price Action: Take sell positions below the pivot with targets at 34,827.00 & 34,736.00.
Alternative Price Action: Above 34,973.00 looks for further upside to 35,116.00 & 35,208.00.
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