- Europe’s major markets finished session higher
- Upbeat US claims report
- Tech stocks rebound
European indices finished today's session higher as optimism in the US helped to spark a rally in afternoon trading. Also news that EU countries agreed to lift some of the COVID-19 travel restrictions on non-EU visitors also lifted market sentiment. On the data front, inflation concerns increased after German producer prices reached the highest level in nearly a decade. DAX30 rose 1.7%, CAC40 gained 1,29% and FTSE100 finished 1% higher.
Upbeat moods can be spotted at Wall Street as technology shares staged a comeback, while weekly jobless claims hit their lowest level since the start of a pandemic which also boosted sentiment. Investors also appear to shrug off worries over a rise in inflation and an early pull back in Fed's monetary stimulus. While cryptocurrencies are trying to erase some of the recent losses, the US Treasury Department announced today that it is taking steps to crack down on cryptocurrency markets and transactions, and said it will require any transfer worth $10,000 or more to be reported to the Internal Revenue Service. At the same time FED is moving forward in its efforts to develop its own digital currency, announcing Thursday that it will release a research paper this summer that explores the move further.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appWTI crude fell more than 2.4 % and is trading around $61.80 a barrel, while Brent is trading 2.5% lower around $65.00 a barrel as the US-Iran nuclear talks reportedly will enter the 5th phase early next week. If both sides reach an agreement, this could result in sanctions on Tehran being lifted and more supply coming to the market. Elsewhere gold rose 0.5% to $ 1,880.00 / oz, while silver is trading 0.55% higher, below $ 28.00 / oz amid weaker dollar and lower Treasury yields, with the benchmark 10-year rate dropping to an over one-week low of 1.62%.
US30 rose sharply today, however buyers struggle to break above the major resistance zone at 34112 pts, which coincides with 50 SMA ( green line) and upper limit of the triangle pattern. Source: xStation5
