Market Wrap: Stocks, Bonds, Commodities
Most Asian currencies were lower on Thursday as the dollar remained steady near a two-year high, while the Indian rupee fell to an all-time low.
The Dow Jones Industrial Average rose 390.08 points to 43,297.03, the S&P 500 gain 1.10% to 6,040.00 and the Nasdaq Composite up 266.25 points to 20,031.13.
MSCI’s index of Asia-Pacific stocks outside Japan is down 0.12% to 709.68 levels. The Australian index was higher by 0.24% to 8,220.90. Japanese Nikkei Index increase 1.39% today.
European stocks were mixed on Thursday, with the Stoxx Europe 50 Index decrease 0.19% to 4,852.93 Germany’s DAX descend 0.18% to 19,848.77, and France’s CAC higher 0.14% to 7,282.69 and U.K.’s FTSE 100 gain 0.42% to 8,136.99.
Benchmark 10-year U.S. Treasury rose as demand for safe assets slipped again, today 10-year bond yields 0.57% to 4.6140.
Oil prices edged higher on Thursday in thin holiday trading, driven by hopes for additional fiscal stimulus in China, the world’s biggest oil importer, while an anticipated decline in U.S. crude inventories also provided support.
Spot Brent crude oil increase 0.12% to $73.26 per barrel. US West Texas Intermediate crude is increase 0.14% to $70.20 a barrel.
The yellow metal gold is up 0.26% to 2,642.36 dollars per ounce.
Market Wrap: Forex
The dollar index was down marginally against the other major currencies in the early Thursday trade.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which either descend 0.07% to 107.950.
The Euro US Dollar (EUR/USD) is a widely traded is down 0.05% today. This left the pair trading around $1.03990.
The Japanese yen was will move negative against the U.S. dollar on Thursday. Today USD/JPY is trades pair that decrease 0.02% to the 157.38 level.
Another commodity-related currency negative against the U.S dollar, AUD/USD loss 0.01% to 0.62370, and NZD/USD decrease 0.06% to 0.56400 level.
EUR/USD Intraday: Support level at 1.03960
Our pivot point is at 1.03960
Preferable Price Action: Take buy positions above pivot level with targets at 1.04110 & 1.04240 in extension.
Alternative Price Action: Sell pivot looks for a further downside to 1.03820 & 1.03690.
Comment: RSI is above 50 levels and pairs above its 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 upside
Our pivot point is at 1.25410
Preferable Price Action: Buy positions above pivot with targets at 1.25680 & 1.25910 in extension.
Alternative Price Action: The price below pivot would call for further downside to 1.25150 & 1.24920.
Comment: RSI is above 50 levels and pairs above its 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 upside
Our pivot point is at 157.330
Preferable Price Action: Buy position above pivot with the target at 157.600 and 157.840 in extension.
Alternative Price Action: The upside breakout of the pivot would call for 157.060 and 156.820.
Comment: MACD 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
AUD/USD Intraday: Trend on the downside
Our pivot point is at 0.62400
Preferable Price Action: Sell positions below pivot with targets at 0.62320 & 0.62250 in extension.
Alternative Price Action: Above pivot a further upside with 0.62480 & 0.62550 as targets.
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
CRUDEOIL Intraday: Trend on the upside
Our pivot point is at 70.01
Preferable Price Action: Above pivot buy oil with 70.31 & 70.57 as targets.
Alternative Price Action: Sell crude below pivot with targets at 69.71 & 69.44 in extension.
Comment: RSI is at above 50 levels and pairs above its 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 upside
Our pivot point is at 2624.50
Preferable Price Action: Further upside to 2631.00 and 2637.50.
Alternative Price Action: If the price gives an downside breakout of a pivot, then the price extends to 2618.00 and 2611.70.
Comment: MACD 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
Dow Jones Intraday: Trend on the upside
Our pivot point is 43,187.10
Preferable Price Action: Take buy positions above the pivot with targets at 43,417.50 & 43,604.90.
Alternative Price Action: Below 43,187.10 looks for further downside to 42,959.20 & 42,774.40.
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