- Stocks rise on Friday in Europe and ahead of the Wall Street open.
- Without major developments, the banking and energy sectors drive the rises.
- With no news from Ukraine, one of the focuses remains in the Treasury bond market.
The markets in Europe register important gains, with the main squares rising more than 1.40%. On Wall Street, futures for the S&P 500 climb 0.37% and those for the Dow Jones advance 0.43%.
the war in Ukraine It shows no signs of changing course anytime soon. Russian troops have withdrawn from northern Ukraine and a major offensive on Donbas is expected. An agreement for a more general suspension of purchases of Russian oil and gas has not yet been reached.
The dollar remains firm in the face of growing comments about the Fed tightening. Yesterday it was the comments of James Bullard, the president of the bank of St. Louis, who said that he would like a rate in the range 3-3.25% towards the second part of the 2022. DXY is at its highest since 2020, and remains just under 100.
The 10-year US bond yield It is at 2.68%, after marking new highs in years ago and the 30-year one at 2.70%. Metals rise modestly and hold at recent levels. Oil does the same and moves sideways on Friday, with WTI (platforms) around $96.00.
In the foreign exchange market, the dollar is still among the strongest. EUR/USD is testing monthly lows and GBP/USD is targeting 1.3000. USD/JPY returned above 124.00. The Russian ruble remains strong and is one of the best performers on the week with USD/RUB near 72.50, at the lowest since November 2021.
Looking ahead to the next few hours, the focus may continue on the bond market and, in terms of data, the report on wholesale inventories in the US and the employment report in Canada stand out.
Technical levels
Source: Fx Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
