- US stock markets opened at new all-time highs and remained near those levels until the end of the session.
- The dollar is strengthening in light of labor market and industrial data that positively surprised investors.
- Better-than-expected data regarding unemployment claims and forecasts from the Philadelphia Fed are extending the downward correction in the EURUSD pair. Today's publication also breaks the negative image of last week's data, when we saw claims rise to 263,000. Theoretically, they lower the incentive for the Fed to make faster interest rate cuts in the US.
- The Norwegian Krone strengthened after a "hawkish cut," while the Pound lost despite the Bank of England maintaining interest rates.
- The Bank of England keeps interest rates unchanged at 4.0%, in line with market expectations. However, the vote ratio for maintaining rates is not as expected. Seven members voted to maintain, while eight were expected. Two BoE members voted for a cut: Dhingra and Taylor.
- The EIA showed another increase in gas inventories, causing NATGAS to lose over 4%.
- Positive sentiment is also prevailing in Europe. Almost all major European indices recorded gains today. The exception was the WIG20, which was the only one to lose today.
- Intel rose over 20% in today's session following an investment announcement from Nvidia.
- Commodities are struggling. Oil lost nearly 1% today, and most agricultural futures contracts are also down. Coffee and cocoa are down by 1.5%. Industrial metals are also losing.
- A slight correction is observed in precious metals. The deferral of recession fears is putting pressure on yields and gold prices. However, platinum is rising.
- In the crypto market, we observe clear optimism. Bitcoin prices are up by nearly 1.2% today, while Ethereum adds 1.6%. Larger gains are seen in altcoins, which seem to benefit from interest rate cuts in the US.
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.
