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

13.08.2021 MARKET WRAP: Stocks, Bonds, Commodities

 

Trade Now                             MARKET WRAP: Stocks, Bonds, Commodities On Thursday, both the Dow Jones Industrial Average (at 35,499) and the S&P 500 (at 4,460) edged up to record closes again. And the tech-heavy Nasdaq 100 rose 61.22 points (+0.41%) to 15,088. U.S. official data showed that the latest number of initial jobless claims declined slightly to 375,000 (as expected), showing the continuous improvement in the labor market. Meanwhile, producer prices rose 1.0% (vs +0.6% expected) and 7.8% on year (vs +7.2% expected) in July. The technology hardware, automobiles and pharmaceutical & biotechnology sectors gained the most, while the semiconductor, energy and consumer durables & apparel sectors showed losses. Palantir Technologies (PLTR) surged 11.36% on strong results. Tesla (TSLA) rose 2.0%, and Apple (AAPL) gained 2.1%. On the other hand, Micron Technology (MU) slid 6.37% after it was downgraded by Morgan Stanley to "equal-weight". The U.S. 10-year Treasury Yield gained 2.9 basis points to 1.359%. European stocks closed mixed. The DAX 30 rose 0.70%, and the CAC 40 gained 0.36%, while the FTSE 100 slid 0.37%. U.S. WTI crude futures decreased $0.28 to $68.97 a barrel. Gold price edged up $1 to $1,753 an ounce. Trade Now   MARKET WRAP: Forex   The U.S. dollar index was relatively stable at 92.99. EUR/USD dipped 4 pips to 1.1735. Official data showed that the eurozone's industrial production declined 0.3% on month in June (vs -0.2% expected). GBP/USD slid 62 pips to 1.3806. U.K. official data showed that the second-quarter gross domestic production increased by 4.8% on quarter (as expected). Industrial production declined 0.7% on month in June (vs +0.3% expected). AUD/USD fell 37 pips to 0.7337. USD/JPY was flat at 110.44. USD/CHF added 15 pips to 0.9234, and USD/CAD gained 18 pips to 1.2522. Bitcoin dropped 2.5% to $44,400, and Ether lost 3.7% to $3,050. Download MFM Securities MetaTrader plugin for Trading Central     EUR/USD Intraday: capped by a negative trend line.   Pivot: 1.1745 Our preference: Short positions below 1.1745 with targets at 1.1720 & 1.1705 in extension. Alternative scenario: Above 1.1745 look for further upside with 1.1760 & 1.1775 as targets. Comment: The upward potential is likely to be limited by the resistance at 1.1745.     Trade Now AUD/USD Intraday: choppy. Pivot: 0.7360 Our preference: Short positions below 0.7360 with targets at 0.7315 & 0.7300 in extension. Alternative scenario: Above 0.7360 look for further upside with 0.7375 & 0.7390 as targets. Comment: As long as 0.7360 is resistance, look for choppy price action with a bearish bias.

12.08.2021 MARKET WRAP: Stocks, Bonds, Commodities

 

Trade Now On Wednesday, U.S. stocks advanced further pushing blue-chip indexes to record closes again. The Dow Jones Industrial Average gained 220.3 points (+0.62%) to 35,484, and the S&P 500 rose 10.95 points (+0.25%) to 4,447. Meanwhile, the tech-heavy Nasdaq 100 fell 25.82 points (-0.17%) to 15,027. U.S. official data showed that consumer prices jumped 5.4% on year in July (vs +5.3% expected). Core consumer prices, excluding energy and food prices, grew 0.3% on month, slower than a rise of 0.4% expected. The transportation, banks and materials sectors gained the most, while the pharmaceutical & biotechnology, semiconductor and automobiles sectors were under pressure. Unity Software (U) gained 13.25% after posting positive earnings results. Lumen Technologies (LUMN) gained 3.59% and Caterpillar (CAT) climbed 3.55%. On the other hand, Moderna (MRNA) tumbled 15.64%, BioNTech (BNTX) fell 13.76% and Pfizer (PFE) slid 3.9% The U.S. 10-year Treasury Yield dropped 2 basis points to 1.329%. European stocks closed higher. The DAX 30 gained 0.35%, the FTSE 100 rose 0.83%, and the CAC 40 added 0.55%. U.S. WTI crude charged $1.02 higher to $69.31 a barrel. Gold price rebounded $23 to $1,752 an ounce. Trade Now   MARKET WRAP: Forex   The U.S. dollar softened against other major currencies. The dollar index dipped back below 93.00. EUR/USD rose 21 pips to 1.1741, and GBP/USD climbed 23 pips to 1.3866. AUD/USD jumped 24 pips to 0.7374. In Australia, the Westpac-Melbourne Institute consumer confidence index fell 4.4% on month in August (vs +1.5% in July). USD/JPY dropped 14 pips to 110.43. Japanese official data showed that producer prices jumped 5.6% on year in July, faster than +5.0% expected. USD/CHF declined 6 pips to 0.9217, and USD/CAD slipped 16 pips to 1.2504. Bitcoin spent most of the session at levels above $46,000, and Ether exceeded $3,200. Download MFM Securities MetaTrader plugin for Trading Central     EUR/USD Intraday: continuation of the rebound.   Pivot: 1.1720 Our preference: Long positions above 1.1720 with targets at 1.1755 & 1.1770 in extension. Alternative scenario: Below 1.1720 look for further downside with 1.1705 & 1.1690 as targets. Comment: The RSI advocates for further upside.     Trade Now AUD/USD Intraday: towards 0.7410.   Pivot: 0.7340 Our preference: Long positions above 0.7340 with targets at 0.7390 & 0.7410 in extension. Alternative scenario: Below 0.7340 look for further downside with 0.7325 & 0.7310 as targets. Comment: The RSI calls for a bounce.   Trade Now You may also view our full Daily Technical Analysis inside your Client's Area. So what are you waiting for? Go get 'em!         Aim for Success with MFM Securities!

11.08.2021 MARKET WRAP: Stocks, Bonds, Commodities

 

Trade Now MARKET WRAP: Stocks, Bonds, Commodities   On Tuesday, the Dow Jones Industrial Average climbed 162.82 points (+0.46%) to a record close of 35,264, and the S&P 500 rose 4.4 points (+0.1%) to 4,436, also a record high. However, the tech-heavy Nasdaq 100 retreated 79.53 points (-0.53%) to 15,053. Investors were encouraged by the Senate's passage of a $1 trillion infrastructure bill. The food & staples retailing, energy, materials and industrial sectors gained the most, while the semiconductors, real estate and software sectors were under pressure. Sysco (SYY) gained 6.52%, Norwegian Cruise Line (NCLH) rose 4.7%, and Caterpillar (CAT) was up 2.48%. On the other hand, Micron Technology (MU) lost 5.36% and Moderna (MRNA) slid 5.72%. The U.S. 10-year Treasury Yield increased 2.4 basis points to 1.347%. European stocks closed in positive territory. The DAX 30 increased 0.16%, the FTSE 100 rose 0.4%, and the CAC 40 was up 0.10%. U.S. WTI crude futures rebounded $1.94 to $68.42 a barrel. Gold price remained subdued at $1,728 an ounce.   Trade Now   MARKET WRAP: Forex   The U.S. dollar was still firm against other major currencies. The dollar index crossed above 93.00. EUR/USD fell 19 pips to 1.1718. Germany's ZEW current situation index posted at 29.3 for August (vs 30.0 expected) and expectation index 40.4 (vs 55.0 expected). GBP/USD eased a further 8 pips to 1.3839, while AUD/USD added 14 pips to 0.7347. USD/JPY jumped 30 pips to 110.59. USD/CHF jumped 29 pips to 0.923, while USD/CAD declined 52 pips to 1.2525. Bitcoin traded 1% lower to levels below $46,000, while Ether held at levels around $3,150.   Download MFM Securities MetaTrader plugin for Trading Central     EUR/USD Intraday:  the downside prevails.   Pivot: 1.1740 Our preference: Short positions below 1.1740 with targets at 1.1705 & 1.1690 in extension. Alternative scenario: Above 1.1740 look for further upside with 1.1755 & 1.1770 as targets.   Comment: As long as 1.1740 is resistance, look for choppy price action with a bearish bias.     Trade Now GBP/USD Intraday:  capped by a negative trend line.   Pivot: 1.3860 Our preference: Short positions below 1.3860 with targets at 1.3820 & 1.3800 in extension. Alternative scenario: Above 1.3860 look for further upside with 1.3880 & 1.3900 as targets. Comment: The RSI advocates for further decline.     Trade Now You may also view our full Daily Technical Analysis inside your Client's Area. So what are you waiting for? Go get 'em!         Aim for Success with MFM Securities!

09.08.2021 MARKET WRAP: Stocks, Bonds, Commodities

 

Trade Now On Friday, the Dow Jones Industrial Average rose 144.26 points (+0.41%) to a record close of 35,208, and the S&P 500 gained 7.42 points (+0.17%) to 4,436, also a record high. Meanwhile, the tech-heavy Nasdaq 100 slipped 72.28 points (-0.48%) to 15,109. The official July jobs report came in stronger than expected. The U.S. economy added 943,000 nonfarm payrolls in July, more than an addition of 870,000 expected. The jobless rate declined to 5.4% (vs 5.7% expected). The banks, financials, and materials sectors gained the most. Monster Beverage (MNST) jumped 5.46%, Wells Fargo (WFC) rose 3.79% and Corteva (CTVA) climbed 8.01%. On the other hand, Expedia (EXPE) lost 7.92% and Twitter (TWTR) dipped 2.76%. The U.S. 10-year Treasury Yield gained 7.8 basis points to 1.302%. On Saturday, Berkshire Hathaway (BRKA) reported that second-quarter operating earnings increased 21.0% on year to $6.69 billion. In Europe, the DAX 30 gained 0.11%, and the CAC 40 increased 0.53%, while the FTSE 100 was little changed. Commodity prices came under pressure amid a stronger U.S. dollar. U.S. WTI crude futures fell $1.01 to $68.08 a barrel. Gold price sank $42 to $1,761 an ounce. Trade Now   MARKET WRAP: Forex   The U.S. dollar strengthened against other major currencies. The dollar index advanced to 92.785 EUR/USD dropped 74 pips to 1.1760. Official data showed that Germany's industrial production declined 1.3% on month in June (vs +0.5% expected). GBP/USD slid 52 pips to 1.3879, and AUD/USD declined 53 pips to 0.7352. USD/JPY jumped 47 pips to 110.24. USD/CHF rose 83 pips to 0.9153, and USD/CAD jumped 51 pips to 1.2557. Over the weekend, Bitcoin exceeded $45,000, and Ether approached $3,200. Download MFM Securities MetaTrader plugin for Trading Central     EUR/USD Intraday: under pressure.   Pivot: 1.1780 Our preference: Short positions below 1.1780 with targets at 1.1720 & 1.1700 in extension. Alternative scenario: Above 1.1780 look for further upside with 1.1800 & 1.1820 as targets. Comment: The RSI has broken down its 30 level.     Trade Now AUD/USD Intraday: the downside prevails.   Pivot: 0.7360 Our preference: Short positions below 0.7360 with targets at 0.7310 & 0.7290 in extension. Alternative scenario: Above 0.7360 look for further upside with 0.7380 & 0.7400 as targets. Comment: The RSI has broken down its 30 level.   Trade Now