The week starts moody in Asia, as economic data from China and Japan missed estimates early this Monday. Crude oil begins the week under selling pressure around the $91 per barrel. US index futures are down, but interestingly, the European futures were better bid in Asia; but news that the Rhine is drying up should weigh on sentiment in Europe. In the US, Friday’s session was again a strong one.
The S&P500 gained 1.73%, while Nasdaq jumped more than 2%. From a technical standpoint, last week’s advance in Nasdaq marks the end of the bear market, as the index rallied more than 20% since the June dip. Could the rally last? The FOMC minutes, due this week, will certainly confirm that the Fed remains focused on bringing US inflation lower; the latest softness in inflation data will unlikely change the Fed’s roadmap, at least for the next couple of meetings. The US dollar is firmer this Monday. Gold struggles finding buyers into the $1800 per ounce level, as Bitcoin tests the $25K resistance to the upside. The US delegation visit to Taiwan this week could revive tensions between the US and China, and help the precious metal amass safe haven flows. But the topside will likely remain limited. Watch the full episode to find out more! 0:00 Intro 0:35 Weak Japan, China data weigh on sentiment 1:58 Drying Rhine river: a growing threat for European stocks? 4:48 Nasdaq exits bear market. Could gains extend? 8:11 RBNZ to hike, Turkey to not 8:33 Gold struggles finding buyers 9:12 US big retailers to reveal Q2 earnings Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Rhine #river #climate #change #DAX #EUR #USD #Gold #XAU #crude #oil #NDX #bear #market #WeekAhead #Fed #minutes #Target #Walmart #earnings #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
