US stock futures erased early gains and moved lower on Monday, following other indices amid doubts over a summit between US President Biden and Russian President Putin will take place. Moscow officials said there were no concrete plans for a summit after the office of French President Emmanuel Macron announced that both US and Russian Presidents agreed in principle to meet to discuss the Ukrainian crisis. Also recent news, that separatists regions in Ukraine ask president Putin to recognize independence and Moscow's allegation that Ukraine sent troops into Russia additionally weighed on market sentiment. Kiev and western countries said that those are provocations and are aimed at justifying Russian military invasion. Additionally the U.S. Ambassador to the U.N. has said the U.S. has “credible information” that Russia has compiled lists of Ukrainians “to be killed or sent to camps” following an invasion. Meanwhile benchmark 10-year Treasury note yield bottomed around 1.927%, easing from a thirty-month high of 2.065% hit on February 16.
US100 took a hit during today's session and is currently testing major support around 13825 pts which is marked with previous price reactions and lower limit of the 1:1 structure. Should break lower occur, downward move may accelerate towards next support at 12880 pts which coincides with 38.2% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe 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.
