This Wednesday will be heaven for day traders. A considerable number of events will make the market volatile. Don't miss it!
Big Tech Stocks and Crypto Surged
- Gold has the biggest monthly drop since 2013 due to the hawkish Fed. The central bank claimed it might tighten the policy soon, which sent gold prices below $1800.
- Oil is falling as traders expect OPEC+ members to increase oil output at an upcoming meeting on Thursday.
- Cathie Wood’s Ark Invest filed for the creation of a Bitcoin Exchange Traded Fund (ETF), that boosted all cryptocurrencies. BTC/USD has jumped above $35,000.
- Some of the giant tech stocks rocketed to fresh records on Monday. Facebook won the dismissal of two monopoly lawsuits and surged above $350.00 for the first time in its history.
- Apple and Amazon jumped and airlines and cruise operators dropped as the reflation trade waned.
The reflation is the expectation of a return to global economic growth after the crisis (the Covid-19 pandemic). Central banks offer huge financial support (decrease rates and increase bond buys) and inflation is getting too high. These conditions are good for cyclical stocks such as banks, energy producers, cruise companies, airlines, etc. Since the Fed said it would start cutting bond buys soon – reduce the financial help, the reflation trade has waned, and all these cyclical stocks dropped, while big tech stocks rocketed.
USD/JPY has reversed to the upside due to the strong US dollar. It has even crossed the 50-period moving average, confirming the bullish momentum. It’s likely to rise to the mid-line of Bollinger Bands at 110.75. The move above it will drive the pair to the psychological mark of 111.00.
EUR/USD has reversed down and it looks like the correction is over and the pair will fall further. The breakout below the 1.1900 support will press the pair down to the low of June 21 at 1.1850. Just in case, if the pair crosses above the recent highs of 1.1950, it may rally up to the 200-day moving average of 1.2000.
Goldman Sachs turns bullish on China, news from ECB, and Twitter's drama - everything you need to know in one place!
The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…
Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.