- Upbeat US retails sales and jobless claims
- US 10-year bond yield fell to 4-week low
- Gold at 7-week high
European indices finished today's session mostly higher due to rally in mining stocks and better than expected corporate earnings reports. Electrical power firm ABB raised its revenue guidance for 2021 while Publicis expects that organic growth will increase in the region between 8% and 10% in Q2. On the data front, consumer prices in Germany and France rose in March by the most in over a year, while Italy's inflation rate reached its highest level since May 2019. On the coronavirus front, Denmark will no longer offer the AstraZeneca vaccine and the US, South Africa and the EU will temporarily stop the rollout of the Johnson & Johnson jab, after reports of rare blood clotting. DAX rose 0.30% and reached a new record high. CAC40 gained 0.40%, FTSE100 jumped 0.61%.
US indices are trading higher, both the Dow Jones and the S&P 500 rallied to fresh highs after upbeat retail sales and jobless claims data. Also better than expected earnings from PepsiCo, UnitedHealth, Citigroup and Bank of America lifted market sentiment. The yield on the benchmark 10-year Treasury note yields retreated further to around 1.55%, a level not seen in a month, in the aftermath of solid demand for 30-, 10-, and 3-year bond auctions.
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Open account Try demo Download mobile app Download mobile appWTI crude rose more than 0.4% and is trading slightly above $63.40 a barrel, while Brent is trading 0.35% higher around $66.80 a barrel. Elsewhere gold surged nearly 2% to $ 1,767.00 / oz, while silver is trading 1.90 % higher, around $ 25.85 / oz as dollar moved away from the 92.00 area and broke below 91.50 for the first time in a month.
Gold price rose sharply following publication of today’s US data. Buyers managed to break above major resistance at $1755 and if the current sentiment prevails then upward move could be extended to the $1791.87 level which coincides with the upper limit of the ascending channel. Source: xStation5
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