S&P 500: Futures Green on Holiday, Dollar Under Pressure

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  • Stocks rise, celebrating Fed dovishness.
  • Fed minutes point to moderation in rate hikes.
  • The dollar remains weak after the document.
  • Wall Street closed for the Thanksgiving holiday.

The markets in Europe and Wall Street futures are rising, optimistic after the minutes of the Federal Reserve, which point to a moderation in the rise in interest rates. The dollar remains weak after the minutes. US holiday will subtract volume.

Markets in green, US holiday

In London, the FTSE 100 rises 0.15%, in Frankfurt the DAX climbs 0.94% and in Paris the CAC 40 advances 0.56%. The S&P 500 rose 0.59% on Wednesday and futures climbed 0.37%.while those of the Nasdaq advance 0.55% and those of the Dow Jones 0.23%.

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Optimism on Thursday does not come by Chinawhere an increase is reported in the cases of covidwhich reduces the possibility of minor constraints.

Much of the market is absent on Thursday and may only return on Monday, as it is US holiday for Thanksgiving. On Friday the activity will be limited. There will be no new US economic data. The health of the American consumer will be put to the test with Black Friday.

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The market continues to evaluate what the Federal Reserve minutes published on Wednesday left, which seemed to favor a continuation of rate hikes at a more moderate pace, as soon as the next meeting on December 13-14. The less harsh tone led to a general decline in the dollar and boosted Treasury bonds.

The dollar index (DXY) is falling for the third day in a row, approaching the bottom of November. GBP/USD topped 1.2100, while EUR/USD after reaching the 1.0450 area fell back to 1.0400 and AUD/USD rose to 0.6770. Among the best-performing currencies is the yen, favored by lower Treasury yields.

With regard to data, an improvement was known in the survey of economic sentiment in Germany. Later, the European Central Bank will publish the minutes of the last meeting.

In Latin America the economic calendar will be charged. In Mexico Y Brazil Inflation data will come out. Banxico will publish the minutes of the last meeting. In Argentina, the central bank would leave the rate at 75%.

The cryptocurrencies are operating with slight increases. The Bitcoin It rises 0.30% and trades around $16,500 and Ethereum at $1,195, climbing 2.25%. Metals accelerated after the minutes, with gold approaching $1,760 and silver above $21.50. Oil prices do not show significant changes. The WTI barrel it is hovering around $77.80, and could continue to calm on low volume.

technical levels

SP500

Overview
Today’s last price 4037.23
Today Daily Change 10.06
Today Daily Change % 0.25
Today daily open 4027.17
trends
Daily SMA20 3889.51
Daily SMA50 3790.96
Daily SMA100 3916.33
Daily SMA200 4046.25
levels
Previous Daily High 4032.7
Previous Daily Low 3994.75
Previous Weekly High 4041.28
Previous Weekly Low 3902.84
Previous Monthly High 3905.2
Previous Monthly Low 3489.72
Daily Fibonacci 38.2% 4018.2
Daily Fibonacci 61.8% 4009.25
Daily Pivot Point S1 4003.71
Daily Pivot Point S2 3980.26
Daily Pivot Point S3 3965.76
Daily Pivot Point R1 4041.66
Daily Pivot Point R2 4056.16
Daily Pivot Point R3 4079.61

Source: Fx Street

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