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2021/06/28 Market Chat

Authored by ZanderVanDerMerwe
28.06.2021
Market Commentary
0
2 min

The week in review was a mixed US Indicies recovered and rallied well to make new all-time high’s across the board as the Nasdaq, Dow and S&P all rallied to make new all-time highs. The European Indicies on the other hand were far less convincing as the Dax remains in a range not quite recovering from the previous retracement the FTSE recovered well to close the week at the top of its range following certain industries opening up as they exit out of their most recent lockdown.

Gold and Silver remained firm following the previous week’s selloff as they remain in a daily range consolidating to gear up for their next move. Brent made another new high post-Covid as it rallied well during last week to close the week out above the $75 mark.

The crypto market came down considerably last week as Bitcoin and Ethereum sold off more last week Monday but found some stability for the remainder of the week, it had substantially more positivity this morning as the Asian session pushed it higher

Following the Asian session the Australian Dollar, Pound and Yen opened up the week the strongest currencies, while the Swiss Franc, Euro and Canadian Dollar are the weakest of the currencies before the European Open.

The latter part of the week has some high impact news that is set to be released as OPEC is set to have production meetings on Thursday following the US is set to release their Manufacturing PMI data, Friday we’re set to receive the US’s unemployment data which is where investors focus would be for the week.

Tuesday (SAST)
All Day - Italian Bank Holiday (EUR)
4:00pm - CB Consumer Confidence (USD)

Wednesday (SAST)
3:00am - Manufacturing PMI (CNY)
2:15pm - ADP Non-Farm Employment Change (USD)
2:30pm - GDP m/m (CAD)
3:45pm - Chicago PMI (USD)

Thursday (SAST)
9:55am - German Final Manufacturing PMI (EUR)
All Day - OPEC Meetings
All Day - Bank Holiday (CAD)
4:00pm - ISM Manufacturing PMI (USD)
9:00pm - BOE Gov Bailey Speaks (GBP)

Friday (SAST)
2:30pm - Average Hourly Earnings m/m (USD)
- Non-Farm Employment Change (USD)
- Unemployment Rate (USD)

Authored by ZanderVanDerMerwe
28.06.2021
Market Commentary
0
2 min

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