- European major indices close higher on the day
- USD weakens second session in a row
- Mixed mood on Wall Street
Today's session on the Forex market brought a continuation of yesterday's sentiment. The dollar depreciated against other major currencies, especially against the NZD (around 1%) and AUD (around 0.7%). Looking at the main currency pair, the price struggled to break above local resistance at 1.1270.
As for the stock market, European indices extended yesterday's gains. The DAX and FTSE100 gained nearly 1%, while the CAC40 added 1.43%. However, after the opening of the US markets, the positive emotions cooled down and the upward move, especially in the US slowed down. Only the Russell 200 stands out, with over 0.5% gain, while the Dow Jones, S&P500 and Nasdaq are swinging between gains and losses. On the data front, the ISM Manufacturing PMI pointed to a further slowdown in factory activity in January and JOLTS job openings exceeded market forecasts. On the corporate front, shares of United Parcel Services were up almost 10% amid strong corporate results and guidance and stocks of Exxon Mobil added 1% after upbeat earnings. Alphabet, PayPal and GM will report their quarterly results today after market close.
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Create account Try a demo Download mobile app Download mobile appMixed moods prevail today in commodity markets amid a weaker dollar. The US 10-year Treasury remained elevated around 1.80% while gold at one point tested $1808 level however buyers failed to uphold momentum and prices pulled back to psychological support at $1,800.00. Silver retreated from key resistance at $23.00. WTI managed to partially erase early losses, however is still trading 0.78% lower around $87.60, while Brent at one point fell below $88.00. Major cryptocurrencies continue to move higher during today's session. Bitcoin price jumped above $39 000 while Ethereum tested $2800 level.
Ethereum continues to move higher in an upward correction. Nevertheless the main trend remains bearish and one should pay attention to two resistance zones. The first is located at $ 2,930 and is marked with previous lows, and the second can be found around $ 3,175 region and coincides with the upper limit of the 1:1 structure and upper boundary of the descending channel. Source: xStation5
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