Read this before you start trading today!
US indices finished yesterday’s trading mixed. S&P 500 dropped 0.02%, Dow Jones added 0.01%, Russell finished 0.14% higher and Nasdaq dropped 0.34%
Stocks in Asia are trading mixed as well. S&P/ASX 200 and Nikkei gain 0.4% while Kospi trades 0.9% lower
DAX futures point to a higher opening of the European session
According to media reports, Biden dropped a plan to lower threshold for estate tax
US officials say that timing of Biden-Putin meeting is being discussed with Russia
Goldman Sachs expects commodities to rally 13.5% over the next six month, with oil price reaching $80 per barrel
Australian CPI inflation reached 0.6% QoQ in Q1 2021 (exp. +0.9% QoQ)
Japanese retail sales increased 5.2% YoY in March (exp. 4.7% YoY)
API report showed a 0.43 million barrel build in US oil inventories (exp. +0.3 mb)
Alphabet (GOOGL.US) reported Q1 revenue at $45.602 billion (exp. $42.61 billion) and adjusted earnings per share of $20.779 (exp. $17.709). Revenue excluding traffic acquisition costs increased 35% YoY
Microsoft (MSFT.US) reported calendar Q1 revenue at $41.706 billion (exp $41.05 billion) and adjusted earnings per share at $1.95 (exp $1.78). Revenue in the Intelligent Cloud segment increased 23.1% YoY to $15.118
Precious metals, oil and industrial metals trade lower
NZD and USD are the best performing major currencies while AUD and CHF lag the most
AUDUSD is one of the worst performing major currencies pairs today. AUD took a hit following a release of the worse than expected CPI report and the pair dropped below 200-hour moving average (purple line). However, declines were halted near the 61.8% retracement of a recent upward move and the pair started to recover.