- Sentiments in the European session were positive today. Germany's DAX gained more than 1.5%, with the CAC40 up 0.8%. The British FTSE fared slightly less well, rising 0.2%.
- The beneficiary of improved sentiment in global markets today was the Eurodollar. EURUSD gained nearly 0.5% and is traded above 1.07
- Tuesday's session on Wall Street brings gains in the major stock market indices. Nasdaq (US100) futures are gaining more than 1.6%, the Dow Jones (US30) is trading up 0.6%, and the S&P 500 (US500) is up more than 1.1% on the rebound. Investors are now waiting for Tesla and Visa results, following the US session.
- The dollar index (USDIDX) is trading more than 0.4% down. Pressure on the dollar was reinforced by weaker-than-forecast flash S&P PMI data from the US economy
US PMI Composite index: 50,9
- Forecasted value: 52
- Value for March: 52.1
US, Manufacturing PMI (preliminary data): 49,9
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile app- Forecasted value: 52
- Value for March: 51.9
US PMI Services PMI: 50,9
- Forecasted value: 52
- Value for March: 51.7
- The Richmond Fed's regional index performed slightly better than forecasts, at -7 vs. -8 forecasts and -11 previously
- U.S. new home sales growth came in well above forecasts; at 8.8% m/m vs. 1.1% forecasts. Yields on 10-year U.S. bonds fell to 4.59%, the lowest in two days.
- Results from U.S. companies received a mixed reception today. PepsiCo is down 2.17% following the release of its report, while General Motors is up 5% and General Electric surges almost 7% after higher than expected Aerospace performance
- Unconfirmed media reports suggest that Apple has begun work on producing its own AI processors, in partnership with TSMC (3 nm technology). Shares of China's smartphone market, however, fell 19.1% y/y in Q1 2024, according to Counterpoint Research
- Wheat futures traded on the CBOT are trading up 2% today, climbing above the $600 per bushel level; WHEAT is headed for a third consecutive upward session. Wheat gains amid an expected Russian offensive, drought in the US and Russia, and slightly weaker-than-forecast winter crop quality
- Brent Crude oil reverses initial 1% declines. As for now OIL rises 1%, closing the session at $88 per barrel. Cocoa is trading near 3% declines, but defends around $10,500 per tonne
- Tesla shares are trading up more than 2% today. The company broke the news that it has built a new '3 Performance' model, whose performance is expected to significantly exceed the 'base' version of the car
- J.P. Morgan CEO Jaimie Dimon indicated that he remains cautious about predictions of a 'soft landing' for the U.S. economy, but even if a recession occurs "the U.S. consumer remains strong
- Iran's president, during a visit to Pakistan, conveyed that any direct Israeli attack on Iran would be met with a response aimed at the complete defeat of the 'regime of the state of Israel'
EURUSD is traded above significant 1.0689 resistance zone and above psychologically important 1.07 level. Source: xStation
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.