This is what you need to know to trade today Wednesday, May 26:
The market mood is cautiously upbeat, however the dollar and yields are far from lows following comments from the Fed and the data. Gold is clinging to $ 1,900 and kiwi stands out after RBNZ bullish announcement. Cryptocurrencies are slowly climbing after several turbulent days. The news about the virus and the infrastructures are in focus.
Mild risk appetite: Global stock markets are moving higher and S&P 500 futures are also pointing higher, but movements are limited. Investors were encouraged by another influx of pessimistic comments from Federal Reserve officials, who emphasized that inflation is transitory and that the economy has a long way to go.
The last to reiterate this message were Randal Quarles and Charles Evans. Quarles is scheduled to speak again later today. Silvana Ternyero of the Bank of England also weighed in, saying that the US Federal Reserve will remain accommodative.
The indicator Conference Board Consumer Confidence for May it did not reach the estimates with 117.2 points and the sales of new homes also disappointed with 863,000 annualized in April. Updated growth figures and additional statistics are scheduled for Thursday.
The EUR/USD It took advantage of the dollar’s weakness to hit the highest level since January, but has since retreated from the highs. The Covid statistics in the old continent are still encouraging.
The GBP/USD remains under pressure below 1.42 as the EU and the UK continue to disagree on the Northern Ireland protocol and coronavirus cases are on the rise in Britain.
The NZD / USD stands out with a jump of more than 1% after the Reserve Bank of New Zealand left its interest rate unchanged and suggested that a rate hike is on the agenda, perhaps even later this year.
The oro surpassed $ 1,900, reaching the highest level since the beginning of this year, and remains at this level as of this writing.
The cryptocurrencies They are also on the road to recovery, with Bitcoin breaking the round level of $ 40,000 and Ethereum advancing towards $ 2,900. Tesla CEO Elon Musk has continued to promote Dogecoin.
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