On Monday, US equities traded mixed and ended the day multidirectional way , after a strong gain in the previous week, SP 500 index gained by half a percent and approached the first significant resistance area around 2720-2750 points. This is a significant market area, the overcoming of which will signifies the positive sentiment returning back to US equity market. As long as the SP 500 index is below $ 2750 level, we can conditionally consider the American stock market under pressure.
Earlier in Asia, mixed sentiment also prevailed, the indices closed in different directions, futures for US indices moved to the red zone. Europe is trading in the red as well.
In the FOREX currency market, FX instruments are trading restrained within trading ranges of the last two days. At the same time, we note continuing pressure on the US dollar. The dollar index is breaking through the strong support area 96.10-96.00. On the background of increased pressure for the dollar, European currency is displaying slightly bearish sentiment trading in a narrow range near the resistance of 1.1430. The British pound continued to grow and today the GBP / USD pair marked a new three-week maximum around 1.3100.
Today in Europe there was published a block of data that did not have a tangible impact on the course of trading. The volume of production orders in Germany over the last month increased by 0.3%, while experts predicted a decline of this indicator by 0.4%. Further, PMI of the services sector has unexpectedly increased compared with the previous values of this indicator. In Germany, the following values, fact 54.7, were made public, with the forecast and the level of the previous period of 53.6 points. For the EU as a whole, the PMI of the services sector was 53.7 points against the expected 53.3. The EUR / USD pair responded with very moderate growth.
In the United States today, no important economic news is expected, and all traders' attention will be focused on the results of US Congress election, the results of which can seriously change the medium-term expectations on the US currency. On the eve of this event, the markets for two days show restrained activity, which partly explains the weak start of the new week by the dollar after the publication of a very good report on the labor market.
+$500 FOR TRADING Trade and receive real money for each 10th completed lot USE THE BONUS AND GET THE FOLLOWING BENEFITS: Unlimited withdrawal Compatible with Megaprotect and Deposit Bonus Available for cents and swap-free accounts HOW TO GET BONUS? To have a valid trading account To maintain the minimum account balance of 100 USD Keep trading and receive […]
We are launching the long-awaited rewards program for all subscribers of our social networks – share posts with your friends and get money on your FortFS account as a reward! 🥇 The participants will get the following benefits: • Real money for reposts • The reward is available for withdrawal without restrictions • You can […]