- Equity markets correct higher.
- Concerns about the future of the economy continue to dominate the scene.
- The mixed dollar reaches maximum since 1998 against the yen.
Wall Street futures register significant increases in the return to normal activity after the holiday. In Europe, the main markets are also advancing. The dollar falls, although at a moderate pace.
Markets recover, but fears remain
In the pre-opening the S&P 500 rises 1.58% and the Nasdaq 1.63%. In Europe, the FTSE 100 climbs 0.52% and the DAX gains 0.45%. Equity markets continue to recover ground after a dismal week. The focus remains on recession fears and global monetary tightening.
The actions of Kellogg’s They rise almost 6% in the pre market after it was known that the company will be divided into three public companies. coinbase recovers accompanying the rebound of Bitcoin and climbs more than 4%. Lennar, Progressive and La-Z-Boy will be among the companies reporting results on Tuesday.
The dollar is with mixed results on Tuesday. The DXY falls for the second day, but remains above 104.00. The EUR/USD and GBP/USD gains are being partially offset by the USD/JPY rally which broke above 136.00 for the first time since October 1998 fueled by rising Treasury yields. The US 10-year bond yields 3.29% and the 30-year bond yields 3.37%, the highest since June 16.
In the United Kingdom the largest rail workers’ strike in decades is taking place.
Traders will continue to monitor statements from central bank officials around the world, with the focus Tuesday on testimony from Jerome Powell, chairman of the Fed before a congressional committee. In terms of data, the most important thing in the US will be the Existing Home Sales report.
The best mood in the markets helps even cryptocurrencies. The Bitcoin rises 2.60% and trades on $21,100. Metals are trading sideways, with no clear trend. The Prayed stands at $1835 and the silver at $21.70. The prices of Petroleum they rise more than 1%, although they remain closer to the lows in weeks, than to the recent peak.
Technical levels
SP500
Overview | |
---|---|
Today last price | 3723.84 |
Today Daily Change | 10.95 |
Today Daily Change % | 0.29 |
Today daily open | 3712.89 |
trends | |
---|---|
Daily SMA20 | 3973.19 |
Daily SMA50 | 4093.41 |
Daily SMA100 | 4257.02 |
Daily SMA200 | 4415.14 |
levels | |
---|---|
Previous Daily High | 3720.61 |
Previous Daily Low | 3680.14 |
Previous Weekly High | 3852.15 |
Previous Weekly Low | 3636.65 |
Previous Monthly High | 4305.91 |
Previous Monthly Low | 3809.41 |
Daily Fibonacci 38.2% | 3705.15 |
Daily Fibonacci 61.8% | 3695.6 |
Daily Pivot Point S1 | 3688.48 |
Daily Pivot Point S2 | 3664.08 |
Daily Pivot Point S3 | 3648.01 |
Daily Pivot Point R1 | 3728.95 |
Daily Pivot Point R2 | 3745.02 |
Daily Pivot Point R3 | 3769.42 |
Source: Fx Street
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