- No major moves in the stock market
- Holiday in the United States
- OPEC + meeting has been postponed
Traders from the United States are off today, which in turn translated into lower volatility during today's session. The main stock indices in Europe started today's trading on the back foot, but eventually managed to erase early losses and finished today's session slightly higher. On the data front, PMI survey showed the Eurozone private sector activity grew by the most since June 2006 as the economy continued to open up from COVID-19 related restrictions, while cost pressures remained a concern with both input costs and output charges rising at record rates.
Volatility on the Forex market has also been muted. At the end of the day, the British pound performs best among the major currencies, appreciating 0.2% against the US dollar. JPY and AUD also moved slightly higher, while NZD and CHF fell over 0.1%. CAD and EUR are trading flat.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appWhile not much has happened in the FX and stock markets, however the situation in the oil market was completely different. The OPEC + members failed to reach an agreement regarding production levels and the meeting was postponed with no new day being set. Crude oil prices rose sharply following these reports and reached new local highs. In the evening hours, a barrel of WTI costs over $ 76.3, while Brent costs almost $ 77.
DE30 started today’s session under selling pressure, however buyers managed to regain control. Nevertheless, the German stock index remains in a broad consolidation zone. Looking at the M30 interval, a classical triangle pattern is building up. Only breaking above the upper or lower limit of the structure may lead to bigger price movements.
DE30 interval M30. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
