Market Wrap: Stocks, Bonds, Commodities
The S&P 500 closed out the week with slight gains on Thursday, with the benchmark index notching its strongest first quarter in five years, as investors digested the latest batch of economic data while looking towards the next inflation reading.
The Dow Jones Industrial Average rose 47.29 points to 39,807.37, the S&P 500 gain 0.11% to 5,254.35 and the Nasdaq Composite slipped 20.06 points to 16,379.46.
MSCI’s index of Asia-Pacific stocks outside Japan is advance 3.65% to 654.90 levels. The Australian index was higher by 0.99% to 7,896.90. Japanese Nikkei Index ascend 0.50% today.
European stocks were positive on Friday, with the Stoxx Europe 50 Index rose 0.02% to 5,082.85, Germany’s DAX ascend 0.15% to 18,504.51, and France’s CAC advance 0.01% to 8,205.81 and U.K.’s FTSE 100 add 0.26% to 7,952.62.
Benchmark 10-year U.S. Treasury rose as demand for safe assets drop again, today 10-year bond yields positive 0.29% to 4.2100.
Oil prices settled higher Thursday to wrap the first quarter with strong gains as bets on lower Russia output eased worries about a global supply surplus.
Spot Brent crude oil ascend 0.05% to $86.99 per barrel. US West Texas Intermediate crude is up 2.16% to $83.11 a barrel.
The yellow metal gold is advance 1.90% to 2,254.80 dollars per ounce.
Market Wrap: Forex
The U.S. dollar rose in European trade Thursday following hawkish comments from a Federal Reserve official, while weak economic data weighed on the euro and sterling.
Today, the U.S. dollar index measures the Greenback against a trade-weighted basket of six major currencies, which surged 0.20% to 104.270.
The Euro US Dollar (EUR/USD) is a widely traded pair that is down 0.07% today. This left the pair trading around $1.07790.
The Japanese yen was negative against the U.S. dollar on Friday. Today USD/JPY is slipped 0.02% to the 151.340 level.
Another commodity-related currency positive against the U.S dollar, AUD/USD rose 0.01% to 0.65150, and NZD/USD surged 0.03% to 0.59730 level.
EUR/USD Intraday: Trend on the downside
Our pivot point is at 1.07850
Preferable Price Action: Take sell positions below pivot level with targets at 1.07700 & 1.07590 in extension.
Alternative Price Action: Above pivot looks for a further upside to 1.08000 & 1.08110.
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
GBP/USD Intraday: Resistance level at 1.26260
Our pivot point is at 1.26260
Preferable Price Action: Sell positions below pivot with targets at 1.26140 & 1.26050 in extension.
Alternative Price Action: The price above pivot would call for further upside to 1.26380 & 1.26470.
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
USD/JPY Intraday: Trend on the upside
Our pivot point is at 151.320
Preferable Price Action: Buy position above pivot with the target at 151.450 and 151.570 in extension.
Alternative Price Action: The downside breakout of the pivot would call for 151.180 and 151.080.
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 downside
Our pivot point is at 0.65140
Preferable Price Action: Sell positions below pivot with targets at 0.65030 & 0.64950 in extension.
Alternative Price Action: Above pivot looks for a further upside with 0.65250 & 0.65340 as targets.
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