S&P 500: China hits futures, euro appreciates

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  • Markets down at the start of the week.
  • Spotlight on China: rising COVID cases and protests over restrictions.
  • The dollar reverses and falls while the euro stands out.
  • Metals rebound firmly, gold at the highest in a week.

Equity markets are falling at the start of the week affected by what is happening in China with the COVID, the restrictions and the demonstrations. The dollar had started to rise, but reversed the trend. Oil prices in free fall.

Markets hit

The Asian stock markets closed negative with falls between 0.40% and 1.58%. In Europe, the FTSE 100 loses 0.33%, the DAX falls 0.85% and the CAC 40 loses 0.83%.

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On the day of return to normal activity in Wall Street After the Thanksgiving holiday, the futures of the main indices are falling, unable to get out of the general climate of the equity markets affected by the situation in China. S&P 500 futures fall 0.77% and those of the Nasdaq fell 0.86%.

In the pre-market, Manzana it falls 1.7% due to possible complications in the Chinese production centers of the Iphone. Tesla falls 2%. Among the companies due to present results on Monday are Huazhu and Ramsay Health Care.

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In China Various demonstrations were seen against the restrictions imposed on society in general to deal with a growing number of COVID-19 cases. The protests increase risks of instability, but at the same time they generate expectations that the restrictions could end earlier than expected. The yuan fell to week-lows, with USD/CNH reaching as high as 7.25, before pulling back to 7.20.

In the US on Monday the prominent data will be the Dallas Fed manufacturing index which should not have much of an impact. Friday will be the turn of the official employment report for November. As for the Fed, John Williams of the New York Fed and James Bullard of the St. Louis Fed will speak in hours.

The euro It is the currency that has risen the most in the last few hours, supported by comments from officials of the European Central Bank, warning of the need for more adjustment. Christine Lagarde, the President of the ECB, will present before the European Parliament today. EUR/USD is at its highest since July very close to 1.0500 and EUR/GBP broke above 0.8650.

The and in is one of the best performers on Monday in the risk aversion climate. For days the Japanese currency has been favored by signs that the Federal Reserve will reduce the magnitude of the rise in the reference interest rate. USD/JPY hit low since late August below 137.50.

The advance of and in lost some strength in the last few hours due to a rebound in sovereign bond yields. The US 10-year bond yields 3.69%, after having fallen to 3.62%. The German reference to 10 years exceeded 2%.

The prices of Petroleum They continue downhill, given concerns about future demand due to the COVID situation in China. The US will allow Chevron get oil out of Venezuela again. The WTI barrel it is at its lowest since December of last year near $74.00, losing 2.75%.

The metals they marked minimums in days in the Asian session but then they had a strong rebound before the fall of the dollar reaching maximums in days. The Prayed exceeded $1760 and the silver exceeded $21.50.

Cryptocurrencies are in heavy losses. The Bitcoin falls 2% and operates at $16,200, while ethereum it yields almost 4% and settles at $1,170.

technical levels

SP500

Panorama
Last Price Today 3997.38
Today’s Daily Change -29.88
Today’s Daily Change % -0.74
Today’s Daily Open 4027.26
Trends
20 Daily SMA 3907.51
SMA of 50 Daily 3797.01
SMA of 100 Daily 3919.05
SMA of 200 Daily 4042.96
levels
Previous Daily High 4039.17
Minimum Previous Daily 4018.67
Previous Weekly High 4042.3
Previous Weekly Minimum 3932.05
Maximum Prior Monthly 3905.2
Minimum Prior Monthly 3489.72
Daily Fibonacci 38.2% 4026.5
Daily Fibonacci 61.8% 4031.34
Daily Pivot Point S1 4017.56
Daily Pivot Point S2 4007.87
Daily Pivot Point S3 3997.06
Daily Pivot Point R1 4038.06
Daily Pivot Point R2 4048.87
Daily Pivot Point R3 4058.56

Source: Fx Street

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