NASDAQ and S&P 500 shows fresh record highs

Yesterday’s trade showed that the markets were tired again, as we saw that Asian stocks don’t keep up with Wall Street growth, when both NASDAQ and S&P 500 showed record highs after stronger growth in energy reserves due to higher traffic In the crud oil. Nikkei 225 stopped at 20,000 points, adding 0.1%, while ASX 200 added 0.2% after a fairly neutral release of RBA-minutes, in which the Bank was concerned about housing and labor markets, balancing it with Forecast of sustainable GDP growth. In China, as in Shanghai comp. And Hang Seng lost 0.3%, as regulatory concerns mount.

In the currency pair, the dollar remained low, as we saw that the USD index, a measure of the strength of the US dollar against the basket of currencies, remains below the 99 level. JPY found strength, as sentiment fell overnight, prompting USDJPY to fall below 113.50, Canceling strong pressure on the purchase from the end of yesterday.
GBP remains muted ahead of today’s release of CPI, in which we expect a 2.6% growth year-on-year. Continue reading

Buy the rumor and sell the fact?

The main news of the weekend was the victory of the French presidential candidate Macron at 2 round of voting, which came in at 66.06% of vote. The lead up to the election weekend, saw the EUR being bought aggressively as markets priced in polling data which showed his advantage in numbers. 

The markets opened with one last push of buyers, before we saw that the sellers again enter after the fact in covering long positions and trading with the hunt. Technically, EURUSD remains between the support level of 1.0950 and the resistance level of 1.1000, with a fixation of what is likely to set the tone for the upcoming week. Positive data from the EU will see a level of 1.1000, verifiable, while more pessimistic news will see the support level of 1.0950, tested. Continue reading