- European indices extended gains for the third session on Monday, with the German DAX up nearly 2% led by banks, real estate and travel and leisure companies. Investors welcomed the news that UK Chancellor Hunt is reversing almost all tax measures set out in Prime Minister Truss's mini-budget.
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Major Wall Street indices rose sharply, fueled by solid quarterly results of major banks. Dow Jones rose 2.0%, S&P 500 gains 2.5%, while Nasdaq over 3%.
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Bank of America's results surprised positively, which triggered optimism among investors ahead of Goldman Sachs, Tesla and Netflix quarterly figures
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Credit Suisse rose by 2.6% after agreeing to pay $495 million to settle a case brought against it in the US,
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The British pound is one of the stronger currencies among majors supported by the statements of the new treasury secretary Hunt and BoE governor, who does not rule out stronger hikes than initially expected
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EURUSD jumped above 0.9800 today, which is related to improved market sentiment. On the other hand, we observe an increase in US bond yields, which may suggest that the dollar has not said the last word yet
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Oil and gold gained moderately today, which may be related to the weakness of the US dollar
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Natgas price drops below $ 6 today, extending recent downward trend caused by higher than expected build of US inventories and a declining prices in Europe
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Upbeat moods can be also spotted on the cryptocurrencies market. Bitcoin tested $19500 level, while Ethereum broke above $1300.
US30 rallied today as some analysts believe there are technical reasons for the market to see short-term relief. Index is currently approaching local resistance at 30580 pts which is marked with 23.6% Fibonacci retracement of the last downward wave. In case of a break higher, upward move may accelerate towards next resistance at 31760 pts. Source: xStation5
