- European indices at record levels
- Earnings season set to begin
- Lagarde signaled an extension to the ECB's current €1.85 trillion bond-buying plan
European indices reached new all-time highs during today's session. Moods on the market improved after ECB President Lagarde reassured this was not the right time to talk about dialing back stimulus while announcing that the central bank would change its policy guidance at its July meeting. Head of ECB also unveiled plans regarding extension of the current €1.85 trillion bond-buying plan, saying it could be followed by a “transition into a new format" when it ends in March 2022. German DAX 30 climbed above the 15,800 level for the first time, CAC 40 rose 0.46 % and FTSE100 finished 0.05% higher.
US equities erased early losses and three major indices jumped to new highs, ahead of the start of the second-quarter earnings season. Banking giants - JPMorgan Chase and Goldman Sachs will be first to report their quarterly figures tomorrow. S&P 500 earnings are estimated to have surged 65.8% from levels depleted by the pandemic a year ago, which would mark a second-straight quarter of sharp profit increases, according to Refinitiv. Also this week will be packed with important macroeconomic data including inflation rate, retail sales and industrial production.
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Create account Try a demo Download mobile app Download mobile appWhen it comes to the Forex market, today we could observe the appreciation of the US dollar, with the simultaneous increase in the yields of the US 10-year bonds. At the end of the day, the dollar appreciated 0.3% to NZD, around 0.2% to JPY and CHF, and less than 0.2% to CAD, EUR, AUD and GBP.
The session on the gold market was interesting, with declines reaching almost $ 10 per ounce. Nevertheless, buyers became active very quickly and the price returned above $ 1,800 level. Silver, on the other hand, appreciates 0.25%, and crude oil continues to decline, with both Brent and WTI losing around 1%. Lower oil prices may be due to concerns over the spread of the COVID-19 pandemic as well as a lack of consensus among OPEC + members.
US500 hit a new all-time high today. The zone at 4345 points, which was acting as a resistance last week, today proved to be a support. We are currently seeing an attempt to break above the 161.8% Fibonacci retracement. Source: xStation5
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