We may see a half year of gains on global stocks, while the USD is nearing a month low against majors. Despite signs of slowing in Asia, equity markets keep trending upward.
SPX500, DJI30, NDX100 may hit the all-time records any day soon if the trend continues. The European markets would need some more time.
Markets have been in a tussle with China’s crackdown on its technology sector and the rising cases of the Delta variant of coronavirus in Asia. On the bullish side, we have a still-dovish Fed and company impressive earnings.
On Friday, European banks saw profits rise despite underwhelming numbers from the Amazon name. Overnight return to business in Europe after lockdown showed it wasn’t just a one-way street.
XAUUSD jumped by 1.15% on Thursday on the news about Fed continuing to spend $120bn per month on stimulus.
The crypto market is still at a crossroads. BTCUSD cannot get away from the $40k area for the third day in a row. The market may fly through the roof or plummet at any moment.
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