Friday, February 26, 2021

AUD, NZD Outperforms, US Charges Rally Hits Tech Shares

USD, EUR/USD, USD/JPY Evaluation & Information

  • AUD, NZD Outperforms on Base Metals Surge
  • GBP Maintains 1.40 as UK Seems to be to Carry Restrictions
  • US Charges Hits Tech Shares

QUICK TAKE: AUD, NZD Outperforms, US Charges Rally Hits Tech Shares

Equities: Fairness markets are starting the week on the backfoot with tech shares among the many notable laggards as US charges proceed its rally. The query being debated now’s how far can US charges rise till the equities begin to really feel vital stress. S&P 500 futures had damaged beneath the assist space (3880-3900) that had underpinned the index for a lot of final week, the subsequent stage on the draw back is the 20DMA at 3863.

S&P 500 Chart: Hourly Time Body

AUD, NZD Outperforms, US Rates Rally Hits Tech Stocks  - US Market Open

Euro Stoxx 50 Sector Breakdown

Outperformers:Power (0.3%), Financials (0.1%),Healthcare (-0.1%)

Laggards: Know-how (-2.2%), Shopper Staples (-1%), Utilities (-0.9%)

US Futures: S&P 500 (-0.6%), DJIA (-0.5%), Nasdaq 100 (-1.1%)

Intra-day FX Efficiency

AUD, NZD Outperforms, US Rates Rally Hits Tech Stocks  - US Market Open

FX: Uneven efficiency throughout the FX house with preliminary USD good points paring all through the European session. Antipodeans are off to robust begin because the reflation narrative continues to take form. Sturdy good points in base metals has helped underpin the Aussie, which briefly broke above 0.7900, whereas NZD appears to be like to RBNZ (full evaluation right here).

Bullish momentum within the Pound has proven little indicators of easing up as GBP/USD maintains a foothold above 1.40. UK PM Johnson is about to announce a roadmap to lifting restrictions (full report)

of purchasers are internet lengthy.

of purchasers are internet brief.

Change in Longs Shorts OI
Each day 25% 7% 12%
Weekly -4% 3% 0%

Commodities: Gold has managed to reclaim the 1800 stage because the pullback within the US Greenback lends assist, whereas the easing of US yields in current commerce has additionally supplied modest assist. That stated, dangers proceed to stay tilted to the draw back, with resistance at 1830-40 more likely to cap additional upside within the valuable metallic.

Wanting forward: Little left on the financial calendar, nevertheless, focus might be on tomorrow’s testimony by Fed Chair Powell.

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