Monday started with risk off sentiment after Doha meeting failed to reach any agreement with OIL, commodities currencies and equities all gapped down. The reversal was swift with European and US market seeing the pullback as opportunities to buy. S&P500 made new 2016 high, finished up 0.65% and the Dow Jones Industrial Average hitting 18,000 for the first time since July 2015.
The sharp recovery highlights the bullish trend over the past month in risk sentiment, with flows favouring higher yield currencies and stocks. This is supported by improvement in China’s March economic data, the Fed’s cautious preference which means hold for longer, and prospect of further easing from Japan given JPY appreciation. In the near term, the consolidation of bullish trend for risk assets is likely. Factors that could deter this view includes poor US companies earning and change in central banks’ dovish stance.
DISCOVER THE TOP TRADES FOR 2016
Free Trading Webinar – 28 April
12:30 – 13:15 English (Sydney time, 10:30 Malaysia/Singapore time)
13:30 – 14:15 Mandarin (Sydney time, 11:30 Malaysia/Singapore time)
Join easyMarkets senior analyst, James Humpherson and discover the top trending markets for this year. Get exclusive market insights and trade set ups for 2016.
By the end of this 45 minute webinar you’ll be able to formulate a solid trading plan with risk management strategies in place. Come prepared as we’ll have a question and answer session at the end!
BOOK YOUR PLACE NOW by emailing SydneyDealing@easyMarkets.com
Important note: These technical and research reports are provided to easyMarkets® as a subscriber of third party providers. They are provided for informative purposes only and in no way can they be considered as a recommendation by easyMarkets® to you to engage in any trade. Hence, easyMarkets® shall not be held responsible for any outcome of trading decisions, in regards with these reports or similar reports. You hereby acknowledge that using the information entailed in these reports is at your sole responsibility and you will have no claims with regards to these reports against easyMarkets®. If you do not agree to this, you are strongly advised not to use these reports.
easyMarkets Pty Ltd (AFSL 246566 ABN 73107184510) makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. easyMarkets recommends that you read the Regulation Page, The Product Disclosure Statement, the Terms and Conditions and the Financial Services Guide before making any decision concerning easyMarkets’ products.
|
|
|
|
|
|
|
|
|
|
