- European indices remain little changed on Wednesday
- US indices slightly higher, Nasdaq and S&P 500 hit new records amid low volatility
- No major moves on the Forex market
Today's session was very similar to yesterday's one. Volatility in financial markets is clearly lower as investors await the central bankers symposium in Jackson Hole and in particular the speech of Fed chairman Jerome Powell on Friday at 3:00 pm BST. Looking at the Forex market, the highest volatility was seen in the USDJPY currency pair, where the dollar strengthened 0.4%. The US also appreciated 0.25% against CAD and 0.15% to CHF. Nevertheless, the USD lost 0.2% against NZD and 0.15% against the AUD. Movements on the EURUSD and GBPUSD did not exceed 0.1% at the end of Wednesday's session.
The main European stock indices ended today's session in mixed moods. German DAX fell nearly 0.3%, while the French CAC40 and London's FTSE100 gained slightly. As for the US market, we observe an almost identical situation to yesterday. US indices rose slightly, and both Nasdaq and S&P 500 reached new all-time highs. When it comes to the commodity market, precious metals erased some of the gains from the last two sessions.
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Create account Try a demo Download mobile app Download mobile appMeanwhile, WTI oil price swung between gains and losses to settle around $68 a barrel on Wednesday following a 9% rally in the last two sessions. EIA data showed a bigger-than-expected draw in US crude inventories last week, marking the 3rd consecutive weekly drop in crude stocks after the recent strong increase.
Cryptocurrencies launched today's session lower as buyers continued to take profits during Asia hours. Bitcoin price at one point fell below $47,000 however buyers managed to quickly regain control and erase some part of recent losses. Currently the main cryptocurrency is trading around $48,500 and Ethereum returned above $3200.
The price of gold bounced off the EMA200 average and the upper limit of the earlier broken descending channel. However, if sellers manage to break below this area of support, the next target for bears is located at $1775 and is marked with lower limit of the 1:1 structure and 23.6 Fibonacci retracement. Source: xStation5
