S&P 500: Futures retain recent gains, dollar loses strength

• US futures with slight rises, Europe without clear direction.
• The dollar loses strength, while the pound recovers from lows in decades.
• Gold and silver are bouncing sharply, while oil is still downhill.
• The decision of the European Central Bank is coming and then Lagarde and Powell.

Wall Street futures rose modestly, validating Wednesday’s advance. In Europe, the main markets operate without clear direction. The decision of the ECB is expected and then a speech by Powell. The dollar with a slightly negative tone while metals accelerate recovery. Oil at lowest since January.

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The S&P 500 closed Wednesday with a rise of 1.83% and on Thursday futures are up 0.08%. In Europe, the FTSE 100 climbs 0.20% and the DAX falls 0.32%.

In the United KingdomPrime Minister Liz Truss announced her energy plan to impose a two-year price guarantee on households and six months on businesses. The pound reacted with a small rise in the market and recovers. GBP/USD is above 1.1530 after hitting its lowest since 1985 on Wednesday.

Within minutes, the European Central Bank will announce the monetary policy decision that is expected to be a rise of 75 basis points. lagarde then he will offer a press conference. The euro arrives with a positive tone in the market at this meeting and the words of the ECB will be a key challenge for the common currency. EUR/USD trades above 1.0000 and EUR/GBP hit two-month highs above 0.8700.

In the US on Thursday the weekly report of requests for unemployment benefits will be published. Jerome Powell, the chairman of the Federal Reserve will give a speech. The dollar is trading on mixed terrain. While it rises against currencies like the AUD, NZD and CAD, it falls against the euro, yen, pound and Swiss franc.

On Wednesday, Lael Brainard, Fed Vice Chair, said they are under pressure to control inflation. This pushed up Treasury yields but this did not last long. The 10-year bond yields 3.23%, far from the recent 3.35%.

The divergence between the Federal Reserve and the Bank of Japan have led to USD/JPY to new highs near 145.00. On Thursday the pair pulls back, as talk intensifies about possible action steps in the markets to limit the depreciation of the Japanese currency.

The prices of Petroleum They are trying to stabilize after a sharp drop to the lowest levels since January. The barrel of WTI pierced the lows of July and August falling to the $81.40 area, it is trading at $82.40.

The metals they are rising on Thursday, and they are at daily highs. XAUUSD stands above $1,720 and XAGUSD climbs more than 1% above $18.60. The cryptocurrencies slowed down the recovery and Bitcoin falls slightly trading around $19,300.

Technical levels