S&P 500 rises to best levels since June 15 The S&P 500 is up 15 points to 2775 shortly after the open, building on Friday’s 23 point rally. Trade war or no trade war, the bulls are making money.
100 hour MA now resistance The GBPUSD has continued to the tumble lower and in the process has been able to find support buyers at the 200 hour MA (green line in the chart below).
S&P 500 futures higher Trouble in North Korean relations and Brexit turmoil hasn’t hurt sentiment today. The main market driver is trade and the feeling today is that it’s ok. On Friday, the US and China trade tariffs but it has (yet?) escalated beyond that, which is positive.
It is a matter of fighting the fights that you can win. One of the things many retail traders complain about is the influence of algorithmic (or algo) traders on the market and their trading.
Comments from the ECB’s Draghi Upbeat comments from Draghi but similar to what we’ve heard recently. No moves in EUR/USD, which remains up 36 pips to 1.1781 today.
BBC political editor reports This might be responsible for the latest leg down in GBP. BBC political editor Laura Kuenssberg says there are whispers that lawmakers in Theresa May’s party have the 48 letters required to trigger a confidence vote.
Stocks higher. Yields higher in the US. As North American traders enter for the day, the AUD is the strongest, while the USD is the weakest. Friday the US employment report had some good and some not as good. Jobs continue to be created. Wages were up, just not as much as expected and the…
What moved markets today ForexLive
It’s a light day for data Mario Draghi is speaking at European Parliament at the top of the hour (1300 GMT). He will be at the regular ECON hearing and will be grilled by the politicians. He follows that up with a 1700 GMT appearance in his capacity as ESRB chair.
Closing changes for the main European bourses ForexLive