- During today's session, we could see mixed sentiment in the European stock market. Germany's DAX gained 0.46%, while London's FTSE100 lost 0.23%, while France's CAC added 0.12%.
- Better sentiment is seen in the U.S. stock market, where the three major Wall Street stock indexes are trading in positive territory in the evening hours.
- The technology Nasdaq riise 0.8%, the S&P500 is trading 0.5% higher and the Dow Jones gains only 0.05%, under the dash we find only the Russell2000 index, which taric 0.4%. Nvidia shares gain more than 6.5%, Big Tech companies are also doing well.
- The New York Fed survey indicated that 5-year inflation expectations in July came in at 3% in July, compared to 2.9% in June. At the same time, inflation expectations fell in many categories, with 1-year expectations at 3.5% vs. 3.8% in June (the lowest since April 2021)
- Chinese indices had a weak session and lost more than 1%, with further macro readings from China indicating an 89% y/y decline in consumers credit;
- Risk aversion was supported by the prospect of a default by a large Chinese real estate development company, Country Garden. Asian indices were much weaker today due to negative sentiments among emerging markets;
- In the forex market, we don't see much change on a daily basis. The Japanese yen was the worst performer on Monday, weakening 0.25% against the dollar. The single currency is also trading under the bar, but the scale of the discount on EURUSD does not exceed 0.2%.
- The dollar has had a successful session, but contracts on the USDIDX index began to lose moments after Wall Street opened - the price retreated from levels not seen since early July
- In connection with the stronger dollar, we could observe declines in the gold market. The quotations of this precious metal approached the level of $ 1900, but after the start of the US session, the sentiment changed and there was a strong rebound and the price returned above $ 1911
- OIL contracts are trading with small declines of 0.5 to 1%. NATGAS is trading flat today.
- Among agricultural commodities, contracts on COFFEE fall 3.5%, WHEAT loses 2%
- Sentiment in the crypto market remains mixed although Bitcoin posted a strong gain after the dollar index retreated below 103 points.
US500, H1 interval. Bulls are trying to move the price upward above 4500 pt where we can see SMA100 (black line) and SMA200 (red line) - key short term resistance levels. Source: xStation5
