US equity markets rallied Tuesday as traders returned from the long weekend.
Tech stocks outperformed with the Nasdaq (NDX100) up more than 1.5% on the back of signs of mounting support for significant fiscal stimulus.
Reporting earnings tonight will be Procter & Gamble (PG.NYSE) and Morgan Stanley (MS.NYSE)
Source: Yahoo Finance
On the back of this the Aussie equity market has opened strongly currently the ASX 200 is up 0.6%
US dollar weakness returned overnight with comments from incoming Treasury Secretary Janet Yellen during her confirmation overnight.
Yellen advocated for major fiscal action to help support the virus-stricken economy, and told Congress to “act big” when it came to more aid. This alongside the Federal Reserve’s commitment to keeping monetary policy easy is creating a headwind for any US dollar strength
Overnight there are scheduled releases from both the Bank of England and Bank of Canada which could cause volatility in GBP and CAD crosses.
The weaker US dollar, as well as expectations that the large stimulus package incoming US Treasury Secretary Janet Yellen hinted at will support economic growth in the world’s largest economy pushed oil prices over 1% higher on Tuesday.
Source: oilprice.com
Also helped by US Dollar weakness Gold prices continued their bounce of recent support levels.
Source: GO MT4
Bitcoin had a relatively quiet night with the smallest daily range it has had so far this year.
It continues to consolidate in a tight wedge pattern, which technically could predict a sharp movement in either direction once the wedge is breached.
Source: GO MT4
Thursday, 21 January 2021 Indicative Index Dividends Dividends are in Points |
||||||
ASX200 | WS30 | US500 | US2000 | NDX100 | CAC40 | STOXX50 |
0 | 5.202 | 0.316 | 0.026 | 0 | 0 | 0 |
ESP35 | ITA40 | FTSE100 | DAX30 | HK50 | JP225 | INDIA50 |
0 | 0 | 0 | 0 | 0 | 0 | 1.007 |
Disclaimer: Articles are from Finanxingcoin analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by Finanxingcoin. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
FTSE100 – Point & Figure The FTSE 100 looked to ride the tailwinds of positive sentiment sweeping through US markets today but instead failed to maintain a reasonable start, ending the session down and 7 points in the red. However, the longer-term picture looks brighter for the Index as we study the latest point & figure chart shown ...
Equity markets With the US equity markets closed in observance of Martin Luther King day it was a quiet night on European exchanges with little chang...