Thursday instant market
|Good||Current value||Daily change|
|S & P 500||2,921||-0.16%|
|WTI Crude Oil||76.33||0.14%|
|EUR / USD||1.1505||-0.83%|
The major US indices closed another session close to their intraday lows yesterday, and today the market should also open up clearly in red. Asian and European markets also fell in a concerted manner, although there remains a huge discrepancy between the technical positions of the US markets and substantially all other markets globally.
The Dow hit another all-time intraday high yesterday before retreating to closing, while the relatively weaker Nasdaq paved the way further down, but still, the technology benchmark is not far from its all-time high.
US Treasury yield at 10 years, 4 hour chart analysis
The US yield curve has been increasing more and more from the ADP employment ratio better than expected yesterday and from the non-ISM manufacturing PMI, with the US-Mexico-Canada trade agreement still pushing returns to go up.
US 10-year and 30-year yields were technically the most advanced, with the 10-year yield rising to a maximum of 4 years close to 3.25%. The yield rally (or Treasuries selloff) also had a major impact on the forex markets, with the dollar index having reached its highest level since mid-August.
DAX 30 Index CFD, analysis of the 4-hour chart
The DAX traded modestly after yesterday's bank holidays in Germany, and so far, together with the other major European indices, the technical configuration of the benchmark is stable. The September lows are not in direct danger and, although the index can not narrow the gap with its US counterparts, the lack of relative weakness is a slight improvement after months of bleeding.
The DAX continues to slide down along the declining trend line which, as we have pointed out last week, but there is still hope for a higher low swing for the bulls here.
Report of all eyes on Tomorrow & # 39; s Jobs
Futures S & P 500, analysis of the 4-hour chart
The S & P 500 has tried to break through to new historical highs several times this week, but for now the index has failed near the 2950 level. The large cap benchmark is now testing the previous break-out level close to 2915 that since becoming support, and due to the recent lateral drift, the rising short-term trend line is now broken.
Before Jobs on Friday, as usual, trading volumes could be low today, and this could lead to uncertain exchanges between asset classes, with sudden peaks in both directions, so especially day traders should be prepared.
AUD / USD, 4 hour chart analysis
Raw materials are flat today, despite yesterday's wild fluctuations in currencies and bonds, with crude oil, gold and copper, all traded so far in narrowness. That said, currencies linked to commodities are active, with both the Australian dollar and the New Zealand dollar reaching the new 30-month lows against the greenback. The Australian is now likely to go for a 0.70 level test, and could hit a new 9-year low next week when Chinese markets reopen.
Emerging markets currencies are also under pressure, but so far their recent lows are not in jeopardy, as the moves are more pronounced in the majors, relatively speaking. If risk movements in equity markets persist, the most vulnerable countries may be back in their sights in the coming weeks.
Major stock indices
Nasdaq 100 Futures, 4-hour chart analysis
Dow 30 Futures, analysis of the 4-hour chart
VIX (US volatility index), 4-hour chart analysis
FTSE 100 Index CFD, analysis of the 4-hour chart
EuroStoxx50 Index CFD, analysis of the 4-hour chart
Nikkei 225 Futures, 4-hour chart analysis
Shanghai Composite Index CFD, 4 hour chart analysis
EEM (Emerging Markets ETF), analysis of the 4-hour chart
EUR / USD, 4 hour chart analysis
USD / JPY, 4 hour chart analysis
GBP / USD, 4 hour chart analysis
EUR / GBP, 4-hour chart analysis
WTI Crude Oil, analysis of the 4-hour chart
Gold futures, 4-hour chart analysis
Copper futures, analysis of the 4-hour chart
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