Read this before you start trading today!

  • US indices finished Friday’s session mixed. S&P 500 rose 0.36%, Dow Jones declined 0.08% and Nasdaq closed 0.48% lower. Russell 2000 added 0.49%
  • Stocks in Asia traded mixed today. Nikkei gained 0.25%, S&P/ASX 200 added 0.29% and Kospi fell 0.20%. Indices from China rose slightly
  • DAX futures point to a higher opening of the European session however markets in  Germany, France, and Switzerland will be closed today in observance of Pentecost/Whit Monday.
  • New Zealand retail sales rose 2.5% in Q1 following a 2.6 % fall in the previous quarter while analysts expected a 1.8% drop
  • China targets ‘Speculators and Hoarders’ to stop rising commodity prices
  • Swiss National Bank Chairman Jordan said the Swiss franc remains highly valued
  • Hospitals in Osaka running out of beds due to high number of new COVID-19 cases, doctors warn of a “system collapse
  • China government reiterated its call to curtail Bitcoin mining and trading
  • Bitcoin trades below 35,000 USD, Ethereum fell to $2,100
  • NZD and AUD are the best performing major currencies while CHF and USD lag the most

Crude oil (OIL) prices rose slightly today, following heavy losses in the previous week, as sentiment was supported by weather-driven supply concerns as a storm formed in the Gulf of Mexico. Price broke above local resistance at $66.58 which is marked with the 38.8% Fibonacci retracement of the recent downward wave and 200 SMA.