- DAX 30 records the highest weekly gain since November
- S&P 500 and Nasdaq reach new ATH
- Disappointing NFP figures
European indices finished today's session in mixed moods, however booked strong weekly gains. DAX 30 gained 4.6% at a near all-time high of 14,057, the most since early November partially on hopes of quicker vaccination rollout. Johnson & Johnson officially submitted its Covid-19 vaccine candidate for emergency use authorization by the US Food and Drug Administration and will apply to the European authorities within the next few weeks. Also, Europe's drugs regulator will review data on antibody treatments from Eli Lilly and Regeneron. On the data front, Germany factory orders dropped 1.9% last month, which is the first drop in 8 months.
US indices are trading higher, with the S&P 500 and the Nasdaq at new record highs despite disappointing NFP data. US economy added 49K jobs in January, slightly below forecasts, but the December reading was revised from 140k to 227K. Also manufacturing payrolls fell by 10K, compared to market expectations of a 30K increase. Weak data highlighted the need for more government aid to shore up the economy. U.S. House of Representatives set to vote on a budget plan that would allow the passage of the legislation in coming weeks without Republican support. On the earnings front, Gilead Sciences and Ford posted better than expected quarterly results. The Treasury Department made remarks regarding the recent retail frenzy and said that "the core infrastructure was resilient during high volatility and heavy trading volume" and the SEC and Commodity Futures Trading Commission are “reviewing whether trading practices are consistent with investor protection and fair and efficient markets”.
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Create account Try a demo Download mobile app Download mobile appUS crude futures are trading 1.0% higher at $56.82 per barrel, while Brent contract rose 0.8% near $ 60.00 per barrel. Elsewhere, gold futures gained 1.05% to $ 1,810.00 / oz, while silver is trading 2.3% higher near $ 27.00 / oz.
NZDUSD pair bounced off the lower limit of the triangle formation and is currently approaching its upper limit. Should a break above occur, then upward move could be extended towards resistance at 0.7248. Source: xStation5
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