Last week recap
It was a solid week for the US Dollar, which after persistent weakness, managed to see gains against the majority of its G10 counterparts.
Investors pivoted back into growth equities this past week. On Wall Street, the tech-heavy Nasdaq Composite (+1.85%) outperformed the value-oriented Dow Jones Industrial Average (-0.80%).
Fed Speech and Central Bank
Traders may be further accepting the Federal Reserve’s outlook for the economy, seeing near-term rising inflationary pressures as transitory.
All eyes are on the Fed on Wednesday. Chair Jerome Powell will almost surely be questioned about the latest CPI report and what the path for policy tapering could look like. The central bank will also release updated interest rate expectations.
For the Euro and Canadian Dollar, inflation data will be closely eyed from Germany and Canada respectively. The Australian Dollar could be vulnerable to RBA meeting minutes if the central bank reiterates its reluctance to hike rates until much further out.
Crude Oil Futures
WTI crude oil prices are hovering around the highest since October 2018, closing at a new high for this year so far. The commodity could see volatility if tensions between the US and Russia worsen.
- Oil Dips on Delta Concerns; Bitcoin OptimismOil dips amidst Delta concerns ahead of the U.S. Inventory data release. Bitcoin may reach new all-time highs. Oil Dips on Delta Concerns Ahead of U.S. Inventory Data Release WTIP:71.91A:71.97 BRENTP:73.71A:73.80 Renewed social restrictions in some countries are also posing a threat to fuel consumption and demand for oil. Bitcoin To Reach New All-Time Highs, […]
- Stock Futures Update: S&P500, Nasdaq and Dow JonesStock futures are lower after major averages snap five-day winning streakU.S. stock index futures fell during overnight trading on Tuesday after the major averages pulled back from record highs, snapping a five-day winning streak. Futures contracts tied to the Dow Jones Industrial Average slid 55 points, or 0.16%. S&P 500 futures were down 0.14%, while […]
- Market Recap: WallStreet, US Dollar, Crude Oil, and GoldHere’s a market recap on what’s been happening around the world financial market. US dollar, Dow Jones, S&P500, Crude Oil, and more. On Wall Street, the Dow Jones, S&P 500 and Nasdaq Composite fell about 0.6%, 1% and 1.9% respectively. This is as the FTSE 100 and DAX 30 weakened 1.6% and 0.9% respectively. In Japan, the Nikkei 225 managed to hold a 0.2% gain. The […]
- Bitcoin Price Surge; While Oil SlumpsBitcoin Price to surge to $157,000 after pullback ends, says on-chain Analyst Willy Woo. Oil slumps as market ignore U.S. draw to focus on UAE ‘No-Deal’ P: 32,575A: 32,983.0 +408.0 +1.25% This is a bull market. There’s no mistaking this. We’ve got X-ray vision of what the investors are doing, and it’s bullish whilst the […]
- Stocks Rebound, Yields Fall as Fed’s Powell Soothes MarketGlobal stocks prices closed flat and bond yields edged lower on Wednesday after U.S. Federal Reserve Chair Jerome Powell soothed investor angst by saying a recent inflation spike will fade, helping lift the S&P 500 to a fresh intraday record. Powell said in congressional testimony that high inflation was for goods and services tied to […]