- Mixed sentiment in the stock market
- New Zealand dollar is the winner of today's session
- Cryptocurrencies without major changes
During today's session we could observe mixed sentiment in the stock market. Most of the stock indices from the Old Continent ended Monday's trading in positive territory, but the volatility was low. The DAX (DE30) lost 0.1% today, the FTSE100 (UK100) gained 0.12% and the CAC40 (FRA40) closed 0.43% higher. Mixed moods prevail in the US. The NASDAQ index rose 0.15%. The S&P500 fell 0.29%, Dow Jones dropped 0.45% while Russell 2000 index is up 1.25%. Investors digest hawkish comments on tapering from US treasury secretary Janet Yellen and the deal on a minimum global corporation tax rate of 15%. Yellen told Bloomberg News that President Biden’s $4 trillion spending proposal would be positive for the country, even if it triggers a rise in interest rates. G7 finance ministers on Saturday agreed the landmark deal to reform the global tax system. Investors in the US now focus on the G7 leaders' summit and the US CPI report.
When it comes to the Forex market, the winner of today's session is the New Zealand dollar which appreciates almost 0.5% against the USD. In the medium term, however, the NZDUSD currency pair remains in consolidation, as we wrote about in the previous post. The US currency is not doing very well today and is also losing 0.33% to the AUD, 0.25% to the EUR and around 0.2% to the CHF, GBP, and JPY.
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Create account Try a demo Download mobile app Download mobile appIn the crypto market, volatility is also not impressive. Bitcoin lost 0.5% and Ethereum fell 1.5%. Looking at the commodity market, one can see that precious metals are gaining on Monday. Gold adds 0.2% and silver gains 0.5%. The price of platinum is also rising, the upward movement exceeded 1%. As for crude oil, Monday's session started in the green, but the majority of the gains were erased later in the afternoon.
Gold moved higher today, but when looking at the M30 interval, one can observe that price reached resistance at $ 1,895. Should a break higher occur, the upward move could be extended to the resistance at $ 1,909.5. On the other hand, should price bounce off the aforementioned resistance at $1895, then another downward impulse towards $1,881.5 may be launched.
Gold interval M30. Source: xStation5
