Stock markets are still benefitting from the chatter the Federal Reserve might look to ease up on the pace it is hiking interest rates.
Silver is edging lower and the MACD indicator shows that momentum is negative, implying the sellers are dominant.
The US dollar is driving higher this afternoon following the surprisingly strong US non-farm payrolls report. Last month, 467,000 jobs were added and that comfortably topped forecasts of 110,000.
The mood in equity markets is a lot more optimistic today than it was last week, and even though the headlines about the Federal Reserve potentially hiking interest rates several times this year are still doing the rounds.
It is another painful day on the markets as traders are dumping stocks. Continued concerns about the possibility of several interest rate hikes from the Federal Reserve and the Russia-Ukraine standoff is weighing on the mood once again.
European equity markets are in the red this afternoon as there are some mild concerns the European Central Bank (ECB) might look to taper its bond buying scheme sooner than previously thought.
The US dollar has dropped to a new four week low as the US non-farm payrolls report greatly missed exceptions.
It has broadly been another bearish day for equities as a combination of Covid-19 concerns, tighter regulation in China, and disappointing data from the US, soured sentiment.
Volatility was low for much of the session as traders awaited the US CPI data, and then activity picked up on release of the announcement.
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