16.08.2021 MARKET WRAP: Stocks, Bonds, Commodities

 

Trade Now                             MARKET WRAP: Stocks, Bonds, Commodities On Friday, both the Dow Jones Industrial Average (closing at 35,515) and the S&P 500 (4,468) edged up to record closes again. The tech-heavy Nasdaq 100 added 47.7 points (+0.32%) to 15,136. The food & beverage, pharmaceutical & biotechnology, and semiconductor sectors gained the most, while the energy, banks and automobiles sectors were under pressure. Ebay (EBAY) jumped 7.45%, and Pzifer (PFE) rose 2.62%, and Advanced Micro Devices (AMD) gained 3.80%. On the other hand, Baidu (BIDU) dropped 4.50%, HP (HPQ) slid 4.57%, and Diamondback Energy (FANG) was down 4.70%. The U.S. 10-year Treasury Yield dropped 7.7 basis points to 1.282%. Regarding U.S. economic data, the University of Michigan Consumer Sentiment Index posted at 70.2 for August (vs 81.2 expected), a 10-year low. Import prices grew 0.3% on month in July (vs +0.6% expected). At the weekend, Hyatt Hotels (H) announced the acquisition of resort firm Apple Leisure Group for $2.7 billion in cash. European stocks closed higher. The DAX 30 gained 0.25%, the CAC 40 rose 0.20%, and the FTSE 100 was up 0.35%. U.S. WTI crude futures declined $1.16 to $67.93 a barrel. Gold price climbed $25 to $1,778 an ounce. Trade Now   MARKET WRAP: Forex   The U.S. dollar consolidated some recent gains, as the dollar index declined 0.5% to 92.51. EUR/USD jumped 65 pips to 1.1795. Germany's economy ministry pointed out that there is no sign of a wage-price spiral that could lead to permanently high inflation. GBP/USD rose 61 pips to 1.3869, and AUD/USD climbed 38 pips to 0.7373. USD/JPY fell 83 pips to 109.58. This morning, official data showed that Japan's gross domestic product expanded at an annualized rate of 1.3% on quarter in the second quarter, compared to a growth of 0.5% expected and a reduction of 3.7% in the first quarter. USD/CHF slid 80 pips to 0.9153, while USD/CAD eased 6 pips to 1.2520. Over the weekend, Bitcoin managed to stay above $47,000, and Ether was above $3,300. Download MFM Securities MetaTrader plugin for Trading Central     EUR/USD Intraday: further advance. Pivot: 1.1765 Our preference: Long positions above 1.1765 with targets at 1.1810 & 1.1830 in extension. Alternative scenario: Below 1.1765 look for further downside with 1.1750 & 1.1730 as targets. Comment: The RSI advocates for further upside.     Trade Now AUD/USD Intraday: the bias remains bullish.   Pivot: 0.7345 Our preference: Long positions above 0.7345 with targets at 0.7385 & 0.7400 in extension. Alternative scenario: Below 0.7345 look for further downside with 0.7330 & 0.7315 as targets. Comment: The RSI is mixed with a bullish bias.   Trade Now