Market Wrap: Stocks, Bonds, Commodities
The Nasdaq 100 index touched an all-time high on Thursday, led by Apple, Amazon, and Tesla.
The Dow Jones Industrial Average was advanced 137.92 points (0.39%) at 35,628.61, the S&P 500 was rose 33.32 points (0.73%) at 4,585.00, and the Nasdaq Composite was up 165.59 points (1.09%) at 15,401.42.
MSCI’s index of Asia-Pacific stocks outside Japan is fell 0.33% to 815.35 levels. Australian index lost 1.44% to 7,323.70. Japanese Nikkei Index gained 0.25% to 28,892.69.
European stocks were lower on Friday, with the Stoxx Europe 50 Index falling 0.53% to 4,211.50, Germany’s DAX lost 0.56% to 15,607.35, and France’s CAC slipped 0.26% to 6,787.50, and U.K.’s FTSE 100 down 0.21% to 7,234.00.
Benchmark 10-year U.S. Treasury rose as demand for safe assets grows again, today 10-year bond yields rose 2.17% to 1.603.
Oil rate decline on Thursday but settled off two-week lows as concerns about U.S. supply growth vied with speculation that Iran’s supply could come online following nuclear talks with global powers.
Spot Brent crude oil fell 1.11% to $82.95 per barrel. US West Texas Intermediate crude slipped 1.06% to $81.78 a barrel.
The yellow metal traded 0.27% higher to 1803.40 dollars per ounce.
Market Wrap: Forex
The dollar index traded the lowest level in a month on Friday, effect by a stronger euro as traders bet on earlier European interest rate hikes.
Today, the U.S. dollar index measures the greenback against a trade-weighted basket of six major currencies, which gained 0.11% to 93.433.
The Euro US Dollar (EUR/USD) is a widely traded pair that is fell 0.10% today. This left the pairing trading around $1.16680.
The Japanese yen rose against the U.S. dollar on Friday as the stock pushes lower. Today US/JPY is fell 0.05% to 113.530 level.
Another commodity-related currency mixed against the U.S dollar, AUD/USD flat to 0.75420, and NZD/USD dropped 0.15% to 0.71870 level.
EUR/USD Intraday: Break resistance zone
Our pivot point is at 1.16470
Preferable Price Action: Take Long positions Above pivot level with targets at 1.16960 & 1.17210 in extension.
Alternative Price Action: Below pivot looks for a further Downside to 1.15920 & 1.15660.
Comment: Pair above its 55MA and RSI at 50 levels.
Green Lines Indicate Resistance Levels – Red Lines Indicates 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 1.37620
Preferable Price Action: Buy positions above pivot with targets at 1.38290 & 1.38660 in extension.
Alternative Price Action: The price below pivot would call for further downside to 1.36900 & 1.36490.
Comment: Pair above its 50MA & 20MA and RSI above 50 levels.
Green Lines Indicate Resistance Levels – Red Lines Indicates Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
USD/JPY Intraday: Resistance at 113.900
Our pivot point is at 113.880
Preferable Price Action: Sell position Below pivot with the target at 113.370 and 113.110 in extension.
Alternative Price Action: The Upside breakout of the pivot would call for 114.410 and 114.660.
Comment: Price below its 55MA & 20MA and MACD in negative territory.
Green Lines Indicate Resistance Levels – Red Lines Indicates 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 0.75140
Preferable Price Action: Buy Positions above pivot with targets at 0.75710 & 0.75960 in extension.
Alternative Price Action: Below pivot looks for a further downside with 0.74570 & 0.74300 as targets.
Comment: Pair above its 55MA & 20MA and RSI above 50 levels.
Green Lines Indicate Resistance Levels – Red Lines Indicates Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
CRUDEOIL Intraday: Price momentum on the upside
Our pivot point is at 81.50
Preferable Price Action: Above pivots Buy Oil with 84.20 & 85.30 as targets.
Alternative Price Action: Sell crude Below pivot with targets at 79.20 and 77.80 in extension.
Comment: Crude is above its 55MA & 20MA and MACD in the positive territory.
Green Lines Indicate Resistance Levels – Red Lines Indicates Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
XAU/USD Intraday: Resistance at 1803.60
Our pivot point is 1803.60
Preferable Price Action: Further Downside to 1789.00 and 1782.60.
Alternative Price Action: If the price gives an Upside breakout of a pivot, then the price extends to 1817.30 and 1823.40.
Comment: MACD in negative territory and price below its 20MA & 55MA.
Green Lines Indicate Resistance Levels – Red Lines Indicates Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced
Dow Jones Intraday: Resistance at 35,727.00
Our pivot point is 35,727.00
Preferable Price Action: Take Short positions below pivot with targets at 35,514.00 & 35,415.00.
Alternative Price Action: Above 35,674.00 looks for further upside to 35,916.00 & 36,007.00.
Comment: Price below its 20MA and RSI below 50 levels.
Green Lines Indicate Resistance Levels – Red Lines Indicates Support Levels
Light Blue is a Pivot Point – Black represents the price when the report was produced