USD, EUR/USD, USD/JPY Evaluation & Information

  • AUD, NZD Outperforms on Base Metals Surge
  • GBP Maintains 1.40 as UK Seems to Carry Restrictions
  • US Charges Hits Tech Shares

QUICK TAKE: AUD, NZD Outperforms, US Charges Rally Hits Tech Shares

Equities: Fairness markets are starting the week on the backfoot with tech shares among the many notable laggards as US charges proceed its rally. The query being debated now could be how far can US charges rise till the equities begin to really feel vital strain. S&P 500 futures had damaged beneath the assist space (3880-3900) that had underpinned the index for a lot of final week, the following degree on the draw back is the 20DMA at 3863.

S&P 500 Chart: Hourly Time Body

AUD, NZD Outperforms, US Rates Rally Hits Tech Stocks - US Market Open

Euro Stoxx 50 Sector Breakdown

Outperformers:Power (0.3%), Financials (0.1%),Healthcare (-0.1%)

Laggards: Expertise (-2.2%), Client Staples (-1%), Utilities (-0.9%)

US Futures: S&P 500 (-0.6%), DJIA (-0.5%), Nasdaq 100 (-1.1%)

Intra-day FX Efficiency

AUD, NZD Outperforms, US Rates Rally Hits Tech Stocks - US Market Open

FX: Uneven efficiency throughout the FX house with preliminary USD positive factors paring all through the European session. Antipodeans are off to sturdy begin because the reflation narrative continues to take form. Sturdy positive factors in base metals has helped underpin the Aussie, which briefly broke above 0.7900, whereas NZD appears to RBNZ (full evaluation right here).

Bullish momentum within the Pound has proven little indicators of easing up as GBP/USD maintains a foothold above 1.40. UK PM Johnson is ready to announce a roadmap to lifting restrictions (full report)

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Change in Longs Shorts OI
Every day 25% 7% 12%
Weekly -4% 3% 0%

Commodities: Gold has managed to reclaim the 1800 degree because the pullback within the US Greenback lends assist, whereas the easing of US yields in latest commerce has additionally supplied modest assist. That stated, dangers proceed to stay tilted to the draw back, with resistance at 1830-40 more likely to cap additional upside within the treasured steel.

Wanting forward: Little left on the financial calendar, nonetheless, focus will likely be on tomorrow’s testimony by Fed Chair Powell.