Source: PaxForex Premium Analytics Portal, Technical Insight The Dow Jones Industrial Average gained 464.28 points (1.46%) to 32297.02 by closing the trading session. The U.S. House of Representatives approved the $1.9 trillion economic stimulus package, offered by U.S. President Joe Biden, which was positive news for the market. Biden is expected to sign the bill on Friday. The Senate approved the stimulus package over the weekend, making some changes to the House draft. Statistics released Wednesday showed that U.S. inflation...
Source: PaxForex Premium Analytics Portal, Technical Insight Eurozone: the key indicator for long-term inflation expectations reached a 21-month high. The key indicator for long-term inflation expectations in the euro area exceeded 1.40% for the first time since May 2019. The 5-year forward inflation swap rate, closely monitored by the ECB, was 1.405% (+2 basis points). The main catalyst for Friday's rise was a rise in Treasury yields, accompanied by a speech by Fed Chief Powell, which once again lifted global yields. This is...
Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices closed Tuesday's trading in decline after a sharp rise the day before. In particular, shares of major technology companies fell significantly. The market was supported earlier this week by a decline in U.S. Treasuries, as well as optimism over the approval of a coronavirus vaccine made by Johnson & Johnson (NYSE: JNJ) and the prospects of a new aid package for the U.S. economy. The yield on 10-year U.S. government bonds fell below 1.45% this...
Source: PaxForex Premium Analytics Portal, Technical Insight Chairman of the U.S. Senate Banking Committee Sherrod Brown urged the Federal Reserve to explore the possibility of issuing a digital dollar. The official sent a corresponding letter to agency chairman Jerome Powell. According to Brown, the Fed should become a leader in national digital currencies (CBDC). The Senator said that if the U.S. misses this opportunity, it may be left "out of history" and lose its leading role in the financial system. USD/CHF, 30 min...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold futures prices increased during Asian trading on Tuesday. On COMEX, a division of the New York Mercantile Exchange, gold futures for April delivery are trading at $1,687.65 per troy ounce, up 0.58% at the time of writing this commentary. GOLD/USD, 30 min Pivot: 1689.00 Analysis: Provided that the price is below 1696.00, follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1689.00 Take Profit 1: 1676.00 Take Profit...
