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2021/07/27 Market Chat

Authored by ZanderVanDerMerwe
27.07.2021
Market Commentary
0
2 min

Yesterday saw a decrease in volatility as the markets gear up for FOMC that’s due tomorrow, US indices edged higher as the Dow and S&P made new highs, however, the Nasdaq remained ranging near its all-time highs without really making that substantial push.

The Dax and FTSE failed to break through their previous high yesterday as both European Indices edged higher they are selling off in before the European open as Asian equities sold off aggressively as the HangSeng came down over 2% this morning.

The precious metals remain range-bound going into tomorrows FOMC, as it will surely cause some major market movements if there are any signs of tapering. Brent Crude recovered well yesterday after slumping to $72 before closing out the day just shy of the $74 mark.

Following the tech stock slump, the crypto market was dragged with it as we saw Bitcoin and Ethereum decline slightly.

The major market mover for today has to be on Consumer Confidence in the lead up to tomorrows Fed decision, as we’re waiting for the European markets to open up the US Dollar and Japanese Yen is currently the strongest currencies while the Canadian Dollar, New Zealand Dollar, Australian Dollar and Euro are currently the weakest pairs in comparison to the major currencies.

Tuesday (SAST)
9:30 am - BOJ Gov Kuroda Speaks (JPY)
4:00 pm - CB Consumer Confidence (USD)

Authored by ZanderVanDerMerwe
27.07.2021
Market Commentary
0
2 min

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