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2021/04/07 Market Chat

Authored by ZanderVanDerMerwe
07.04.2021
Market Commentary
0
2 min

Yesterday was a relatively quiet day as the majority of the indices had a consolidation day as Nasdaq, S&P, Dow and Dax were range bound post Monday’s positivity that ran rampant though the market. The FTSE was the stand out as it pushed higher to break 6800 to close the day on 6822.

Gold and Silver both had positive days as Dollar weakness came into the market as both precious metals closed out the day on $1742 and $25.15 respectively. Brent remains mixed as it is range bound between $61.24 and $65.

Bitcoin is struggling to break through its all time high as it is currently ranging between 57330 and 56700.

With Bond Yields consecutive days of selloff saw more Dollar weakness resulting in a devaluation against the Major currencies. Euro strength seems to be dominating the market pre-european open. Similar to the Euro, the Swiss Franc has a lot of strength that came into the market as it continues to strengthen against the Yen, Australian and New Zealand Dollar, US Dollar as well as Canadian Dollar.

Keep an eye out for the FOMC Meeting minutes being released out of the US at 8:00pm (SAST) today.

Wednesday (SAST)
4:00pm - Ivey PMI (CAD)
4:30pm - Crude Oil Inventories (USD)
8:00pm - FOMC Meeting Minutes (USD)

Authored by ZanderVanDerMerwe
07.04.2021
Market Commentary
0
2 min

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