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The U.S. dollar reverses losses; EU stock market rises

05.08.2022

Market Review

Commodities market

Oil prices rose today as supply shortages were strong enough to cancel out fears of slackening fuel demand. Brent crude rose 0.6%, and WTI crude rose 0.8%.

Key tickers:

Brent: 94.75 — neutral.

WTI: 89.20 — buy.

NG: 8.096 — strong sell.

Foreign exchange market

The U.S. dollar rose today, reversing previous heavy losses. The DXY index traded 0.2% higher at 105.785 after slumping 0.7%.

Key tickers:

NZD/JPY: 83.95 — buy.

EUR/USD: 1.0231 — neutral.

USD/JPY: 133.35 — strong buy.

USD/CAD: 1.2870 — strong buy.

GBP/USD: 1.2160 — strong buy.

Metals

Gold prices extended gains today despite slowing global growth. Losses of USD also helped metals. Spot gold was 0.05% up, and gold futures were 0.1% up today.

Key tickers:

XAU/USD: 1789.85 — strong buy.

XAG/USD: 20.169 — neutral.

XPT/USD: 937.70 — strong buy.

XPD/USD: 2090.35 — strong buy.

Crypto market

Bitcoin price declined today but held above $22,500 support and rose to the $23,100 level. Ethereum might gain bullish momentum in case of a move above $1,680.

Key tickers:

BTC: $23,185.8 — strong buy.

ETH: $1,662.59 — strong buy.

Neo: $11.4000 — strong buy.

Zcash: $67.70 — strong buy.

Stock market

European stock futures are higher today, boosted by positive quarterly earnings. The DAX futures traded 0.2% higher, CAC 40 futures climbed 0.1%, and the FTSE 100 futures rose 0.1%.

Key tickers:

  • indexes

S&P 500: 4,151.94 — strong buy.

Nasdaq 100 (NDX): 13,311.04 — strong buy.

Dow Jones Futures: 32,740.0 — strong buy.

DAX: 13,680.60 — strong buy.

  • Shares

Southwestern Energy Company #SWN: 6.490 — buy.

Apple #APPLE: 165.81 — strong buy.

Amazon #AMAZON: 142.57 — strong buy.

Tesla #TESLA: 925.90 — strong buy.

Meta Platforms Inc #FACEBOOK: 170.57 — strong buy.

Author: GC
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