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2021/05/05 Market Chat

Authored by ZanderVanDerMerwe
05.05.2021
Market Commentary
0
2 min

It was an interesting day on the market yesterday, US Indices opened up with mixed results as Nasdaq declined significantly, to make a new month to date low of 13 380. The Dow performed significantly better after declining to the bottom of its range to close the day positively near the top of its range, subsequently pushing higher in the Asian session in this morning's trading session.

European Indices bore the brunt of the US session selloff as all the gains made during the European open was erased with some interest as the FTSE and Dax both closed the day significantly lower than their open.

Gold and Silver declined significantly as dollar strength entered the market on the back of the equity market decline. Brent continued its rally as it closed the day out near $69.50 prior to Crude Oil Inventories set to be released this afternoon.

Bitcoin and Ethereum were a bit more range bound in the midst of the asset sell offs in the Equity and Commodity markets.

Prior to the European open there’s still USD strength in the market as ADP figures are set to be released this afternoon, that will more than likely give us an indication of what to expect from NFP on Friday. Unemployment figures that got released out of New Zealand was very positive as the actuals came out significantly better than expected.

Wednesday (SAST)
All Day - Bank Holiday (JPY & CNY)
12:45am - Employment Change q/q (NZD)
12:45am - Unemployment Rate (NZD)
1:00am - RBNZ Gov Orr Speaks (NZD)
2:15pm - ADP Non-Farm Employment Change (USD)
4:00pm - ISM Services PMI (USD)
4:30pm - Crude Oil Inventories (USD)

Authored by ZanderVanDerMerwe
05.05.2021
Market Commentary
0
2 min

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