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Global equities rally
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U.S. indices with new all time-highs
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EUR/USD seesaws around 1.18 at press time
Global stock markets have been dominated by upbeat moods to start the week. Following rather successful Asian session, European equities finished the day significantly higher as most indices advanced over 2%. DAX added 2.36% while CAC 40 finished the day 2.28% higher. Optimism is seen on U.S. stock markets as well with all major U.S. indices gaining at press time. Both S&P 500 and Nasdaq managed to reach fresh all-time highs.
Risk-on mood weigh on precious metals markets today. As investors turn to risky assets, gold and silver tend to fall. Gold spot is trading around $1,930 while silver prices came below $26,50 barrier. The main currency pair is trading around 1.18 at press time.
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Create account Try a demo Download mobile app Download mobile appToday’s calendar was basically empty with retail sales report from New Zealand being the only notable hard data. The figure for Q2 (ex inflation) came in slightly below expectations as it fell 14.6% QoQ (vs exp. -15.0%). Due to lack of interesting data, today’s trading was mostly dominated by individual company news and some headlines of global significance for instance Covid-19 reports.
Tomorrow investors might be interested in revised Q2 GDP report from Germany as well as ZEW indices. Apart from that, CB Consumer Confidence index and New Home Sales data from the U.S. might influence moods during session in America. In the evening oil traders should also pay attention to API weekly crude oil data.
EUR/USD seesaws around 1.18 at press time. The U.S. dollar did strengthen against the euro in the afternoon while American equities managed to achieve fresh ATH. Should the current sentiment on FX market prevail, investors' attention might focus on 1.1725 area (we have seen some price reactions in the past there). Still, the 1.1800 level gives the impression of being a tough barrier and a sudden rebound is possible as well. Source: xStation5
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