- Fed has downplayed inflation concerns
- SPX breaks new record close
- Bitcoin rises above $ 57,000
The minutes of the previous meeting of the Federal Reserve System confirmed the adaptive policy of the bank and increased the number of contracts for, as well as for European shares at auction on Thursday.
Yields fell while gold rallied on the weakening dollar.
Global financial relations
S&P futures, based on yesterday’s gains on Wall Street, suggest that the underlying benchmark will meet a new close on Wednesday when the US session opens, perhaps even providing another record day when trading kicks in.
Mining and auto companies, which are doing well in the face of growth, topped the index in European trading this morning. However, the index fell as it recovered from a two-day drop. The island nation is highly dependent on exports, and the weaker pound increases sales to other countries.
The pound was also weighed down by concerns about the side effects of the AstraZeneca (LON 🙂 COVID-19 vaccine and a slowdown in the UK vaccination program. The Philippines just suspended vaccine use for people under 60 after data showed that vaccination can cause rare blood clots, and the UK’s Joint Committee on Vaccines and Immunizations said the vaccine should not be given to people under 30 due to the very severe thrombosis. a rare side effect of blood clots in the brain. So the pound remains a short press.
The pound rebound met resistance at the bottom of the second bearish pattern in a row after falling below the uptrend line since the beginning of March last year, when the currency is moving in a downtrend.
Much of Asia was in positive territory, with Hong Kong gaining 1.5%. Japan was the only regional index to find itself in the red, albeit marginally, due to concerns about tightening restrictions to combat the country’s rising coronavirus infection rates.
In trading on Wednesday, US stocks were mixed after the Fed did not use any language to propose a change in position, instead reiterating its extremely soft policy, stating that it will remain in place until “results” are achieved. … While the index rallied and closed slightly higher, the day ended marginally in the red, while the index fell 1.7% as traders cut back on reflation trading.
As a result, the sector fell 1.7%, exactly the same percentage as the smaller US corporations listed on the Russell 2000.
Treasury yields are falling again today after rebounding on Wednesday.
10 Year Treasury Notes Daily
Technically, rates are retesting yesterday’s bullish hammer (bearish for Treasuries as yields remain negatively correlated), especially at the bottom of its bullish channel. Will these technical phenomena overcome the indicators’ gloomy perception of rate cuts?
The index has maintained a positive correlation with profitability, which has persisted over the past two days, declining after yesterday’s rebound.
The dollar is struggling to maintain its position within the falling flag, which turned bullish after the previous jump of 2.25% in just 10 sessions, especially given that it is exactly above the previous upward channel. While the MACD has already shown a bearish cross, the RSI is on the fence.
rallied on weak dollar, retesting the previous bearish flag.
The rise is higher, which makes up the bottom. Yellow metal on expectations of a rate hike.
rebounded above $ 57,000 after Bloomberg predicted the cryptocurrency would rise to $ 400,000 this year.
The token is trading on a falling channel, whose bullish position is amplified by the fact that it occurs at the bottom of the rising channel, which indicates a new record.
fell, disrupting a two-day rally.
However, this is at the bottom of the bearish flag.
- The US and PPI will be released on Friday.
- Canada will announce the change on Friday.
- China data and prices will be released on Friday.
- S&P 500 index futures gained 0.4%.
- The STOXX Europe 600 Index is up 0.4%.
- The index rose 0.2%.
- The index rose 0.3%.
- The dollar index fell 0.2%.
- Up 0.2% to $ 1.1887.
- The rate jumped 0.3% to $ 1.3776.
- It fell 0.1% to $ 6.547 per dollar.
- The rate strengthened by 0.3% to $ 109.54 per dollar.
- The 10-year Treasury yield fell two basis points to 1.66%.
- Treasury yields fell less than one basis point to 0.15%.
- The German yield remained unchanged at -0.32%.
- The UK yield rose one basis point to 0.785%.
- The Japanese yield fell less than one basis point to 0.098%.
- West Texas Intermediate crude fell 0.7% to $ 59.34 a barrel.
- quotes fell 0.6% to $ 62.77 a barrel.
- Gold rose 0.4% to $ 1,744.24 an ounce.