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2021/07/30 Market Chat

Authored by ZanderVanDerMerwe
30.07.2021
Market Commentary
0
2 min

It was a fairly negative day yesterday from the Indices point of view, following FOMC the expectation was that there would be a lot more positivity flowing through the equity markets. The HangSeng’s negativity didn’t do the US or European Indices any favours. The Nasdaq and Dow both closed lower while the S&P closed slightly higher for the day.

The commodity market continued its upward trajectory as gold and silver kept on accelerating throughout the day, as the infrastructure bill edges closer to being approved and inflation risk is more so on the table than before following the Fed’s dovish statements, Gold is currently trading at $1830 while Silver is trading at $25.60. Brent Crude had a good day as it made a daily high of $75, recovering well following the selloff we had last week’s low of $67.

Bitcoin remains stable at the moment around the $40 000 level, Ethereum rallied during the Asian session this morning, up from its opening price of $2308 to be trading at $2402 at the time of writing.

During the European open, the Euro, Pound and Canadian Dollar are currently the strongest currencies, while the Australian Dollar and Japanese Yen are the weakest of the major currencies.

Canadian GDP is due out today as well as the Core Price Index to keep an eye out for today.

Friday (SAST)
2:30 pm - GDP m/m (CAD)
- Core PCE Price Index m/m (USD)

Authored by ZanderVanDerMerwe
30.07.2021
Market Commentary
0
2 min

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