- Dax 30 nears new high
- US stocks rally continues
- Oil prices highest since January 2020
European indices finished today's session higher, with Dax 30 approaching its record high of 14,060 pts and other bourses gained between 0.1% and 1.5%, amid hopes of further Covid stimulus and easing political uncertainty in Italy. Prime Minister-designate Mario Draghi secured initial support from two major parties in his efforts to form a unity government. On the economic data front, industrial production in Germany came in below expectations of 0.3 % increase, as exports were negatively affected by the lockdowns. Germany reported a lower number of cases within the last few days, but Chancellor Angela Merkel said that the national lockdown will probably need to be extended until the end of February. Elsewhere, South Africa suspended the use of the AstraZeneca vaccine after early data suggested it has a limited effect against the new variant of the coronavirus detected in that country.
All three main US stock indexes reached record levels today on growing expectations for further stimulus at a time when Covid-19 infections in the US continue to slow. However, health officials warned about a potential new surge after recent data showed the Covid-19 variant first discovered in the UK is spreading rapidly across the country. Meanwhile Treasury Secretary Janet Yellen urged Congress on Sunday to pass President Joe Biden’s stimulus plan, saying if it does the U.S. could return to full employment by 2022. Also, House Speaker Nancy Pelosi said on Friday the House aims to pass the bill within two weeks. On the corporate front, Cisco, DuPont, Twitter, Uber and Coca-Cola will report their quarterly figures during the week.
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Create account Try a demo Download mobile app Download mobile appWTI crude jumped above $58 a barrel and Brent above $60 for the first time since January 2020, buoyed by major oil producers' commitment to output restraint and hopes for a recovery in global crude demand. Elsewhere, gold futures rose more than 1.0% to $ 1,832.00 / oz, while silver is trading 2.0% higher near $ 27.40 / oz.
USDJPY – buyers failed to uphold recent momentum and pair fell below the 200 SMA (red line) during today's session. If the current sentiment prevails, support at 104.78 may come into play. Should a break below this level occur, downward move could be extended to the 103.65 handle. On the other hand, if bulls will manage to regain control, then nearest resistance lies at 106.72. Source: xStation5
