Today's session on the European stock market was one of success. The main indices from the Old Continent surged upwards shortly after the start of trading and ended the day on a positive note despite a pullback in the second half of the day. The DAX set new local peaks and gained more than 0.7 per cent.
Sentiment deteriorated in the second half of the day and although European indices closed the cash session higher, in the futures market we are seeing a significant pullback and an erasure of today's rally.
A similar situation is taking place on Wall Street, where the major indices started trading higher, but at this point have erased all upward movement and are trading under the dash.
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The dollar came under pressure again today, thus there is a risk of breaking the correction we experienced last week. On Thursday, the USD depreciated 0.3% against the euro, and more than 0.5% against the pound and the New Zealand dollar.
The EURUSD bounced off the key support zone of 1.0660 - 1.0700 yesterday and today the upward movement continued and the pair approached almost 1.0800, but in the second half of the day we see a slight retracement around 1.0745.
The deterioration of sentiment in the stock market in the second half of the day is negatively affecting the cryptocurrency market. Bitcoin retreated below $22500 and the Ethereum exchange rate fell below $1630.
Precious metals have not benefited from the weaker well and are trading slightly below the bar. Gold is trying to recover from last week's strong discount and is losing around 0.3% today, while silver is down 0.7%. However, industrial metals such as nickel, copper and aluminum are doing well.
The US500 failed to break above the line drawn from the recent peaks. We are currently seeing a pullback and a retest of the key short-term support zone at 4107-4115 points.
Source: xStation5
Nickel quotes have bounced in recent days from the support stemming from the average EMA 100 and are heading towards the line drawn after the recent tops.
Source: xStation5
