S&P 500: Slight fall in futures, the dollar remains vulnerable although it has a breather

• Wall Street futures in red, on a US holiday.
• The dollar recovers some strength, continues with a negative trend.
• Metals lose strength after marking new highs in months.
• Oil with a slight fall; cryptocurrencies moderate advance.

Equity markets trade without a clear direction on Monday, in a day that is expected to have low volume due to the US holiday. The dollar tries to recover ground but only manages a moderate correction for now. Metals lose strength after marking new highs in months.

A drop after several rises

In Asia, the markets closed mixed on Monday with a fall in the Nikkei 225 of 1.14% and a rise in the Hang Seng of 0.04% and the Chinese stock market of 1.01%. In Europe, the main markets rise around 0.25% on average. The S&P 500 rose 0.40% on Friday and index futures are down 0.16% on Monday; those of the Dow Jones lose 0.09% and those of the Nasdaq 0.34%. There will be no formal operation on Wall Street because it is Martin Luther King Jr. Day. The Treasury bond market will be closed.

Companies due to report results on Monday include Saudi Electricity Company Bearer, Almarai, Nippon and Jarir. Later this week it will be the turn of Morgan Stanley, Goldman Sachs, United Airlines, Procter & Gamble, Costco and Netflix.

The tone of the market moves between the reopening of China, economic data with mixed signals and the slowdown in inflation in the US and Europe. Russia continues with the bombardments in Ukraine and carries out exercises with Belarus, which is seen as the anticipation of a new offensive.

The economic calendar is light on Monday. The Davos World Economic Forum is taking place. Important figures will arrive early Tuesday with data on China’s GDP, retail sales and industrial production. Then it will be the turn of labor market data from the UK and the final inflation figures for December in Germany.

The focus these days in the US will be on the results of the companies and the debate over the legal limit of indebtedness, which according to Treasury Secretary Janet Yellen, will be reached this Thursday. Raising the debt ceiling requires an act of Congress, which has the Senate in Democratic hands and the House of Representatives in Republican hands.

Among the coins the dollar is having a positive day after important falls. This is seen for the moment as a respite and not a change in the short-term trend. EUR/USD hit its highest since April before pulling back to 1.0800. The euro remains propped up by expectations that the European Central Bank will continue to raise interest rates significantly, as stated by the member of the Governing Council, Olli Rehn, on Monday. The price of gas in Europe fell to the lowest in 16 months due to expectations of greater supply.

The and in it is falling modestly at the start of a key week and after previous large appreciations. The decision of the bank of japan, with the focus on signs for the future in the expectation that a change is coming. USD/JPY returned above 128.00 after bottoming at 127.15, the low since May 2022.

The metals they are falling on Monday after reaching their highest in months. The Prayed it is trading around $1915, after peaking near $1930, while silver after reaching $24.50, is approaching $24.00.

The cryptocurrencies they slow down the pace of the rises and validate the recent gains. The Bitcoin follows is just under $21,000, while ethereum It does so in the area of ​​$1,550, whereas a week ago it was at $1,250.

The prices of Petroleum They trade largely unchanged from Friday’s close. The WTI barrel marked its highest in weeks before falling back and is below $80.00.

technical levels