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Twitter stock jumps after Elon Musk buys in

“Play by the rules, but be ferocious.” – Phil Knight

 

 

HEADLINES

 

  • U.S. dollar firms on prospect of more sanctions over Ukraine
  • Gold Price Continues to Fluctuate Above the $1,900 Level
  • Gold Remains Stuck Below $1935 As Traders Wait For Catalysts
  • Oil Climbs Above $100 With EU Working on New Russia Sanctions
  • Nasdaq, S&P 500 climb as growth stocks, Twitter jump
  • EUR/USD to retest 1.09 fairly quickly on a sustained push under 1.10 – Scotiabank
  • USDJPY Near Term: Upside favored

 

 

 

FOREX

 

U.S. dollar firms on prospect of more sanctions over Ukraine

 

The dollar gained on Monday, rising for three straight sessions, as civilian killings in north Ukraine and the prospect of increased sanctions pushed investors to seek safety in the greenback.

The U.S. currency also continued to benefit from a strong non-farm payrolls report for March that backed expectations for a hefty half a percentage point tightening by the Federal Reserve at next month’s meeting.

 

 

 

COMMODITIES

 

Gold Remains Stuck Below $1935 As Traders Wait For Catalysts

 

Gold received support near $1915 and moved closer to the resistance at $1935.

Gold Tries To Gain Some Ground At The Start Of The Week and remains stuck in a tight $1915 – $1935 range, while the yield of 2-year Treasuries is moving lower after an unsuccessful attempt to settle above the 2.50% level.

 

 

Oil Climbs Above $100 With EU Working on New Russia Sanctions

 

Oil rallied back above $100 as the European Union said it was working on new Russian sanctions, while Saudi Arabia hiked its prices for Asian buyers further into record territory. 

West Texas Intermediate added as much 4.5% to trade above $103 a barrel.

Last week, prices experienced their biggest weekly decline in two years after the U.S. announced a giant release of oil from its strategic petroleum reserve. Allies within the International Energy Agency will also tap stockpiles, with details expected this week.

 

 

 

STOCKS

 

Nasdaq, S&P 500 climb as growth stocks, Twitter jump

 

The Nasdaq and the S&P 500 gained on Monday, boosted by megacap stocks and a 20% jump in Twitter shares, even as the global mood remained cautious amid talks of more sanctions against Russia over its invasion of Ukraine.

After a rough start to the year, the tech-heavy Nasdaq has nearly halved its year-to-date losses in the last few weeks, helped by gains in growth names and strong economic data. Nasdaq is now down 10.7% from its all-time closing high in November.

 

 

 

ANALYSIS

 

EUR/USD to retest 1.09 fairly quickly on a sustained push under 1.10 – Scotiabank 

 

“Last Thursday’s rejection of the upper 1.11s (bearish outside range session) suggests a renewed bear phase for spot may be developing.”

“Gains since the early March low have held in a clear consolidation pattern (bear wedge), the base of which lies at 1.10 today; a sustained push under the figure should see spot retest 1.09 fairly quickly.”

“Key support at 1.0805 remains vulnerable.”

 

 

 

CHART

 

USDJPY Near Term: Upside favored

Technical View: Long position above 120.9. Target 123.5. Conversely, break below 120.9, to open 120.3.

Comments: The pair remains supported. Further advance favored.

 

Source: Trading Central
 

 

 

CALENDAR

 

*Times in GMT

 

 

 

 

Source: FX Street Economic Calendar

 

 

SOURCES

 

https://www.bloomberg.com/news/articles/2022-04-03/oil-extends-retreat-as-china-battles-worsening-virus-outbreak
https://www.reuters.com/business/energy/oil-extends-losses-reserves-release-yemen-truce-2022-04-04/
https://www.reuters.com/business/futures-edge-higher-twitter-china-adrs-surge-2022-04-04/
https://www.reuters.com/business/global-markets-wrapup-1-pix-2022-04-04/
https://www.fxstreet.com/news/eur-usd-to-retest-109-fairly-quickly-on-a-sustained-push-under-110-scotiabank-202204041333
https://www.cnbc.com/2022/04/04/forex-markets-us-interest-rate-expectations-euro-russia-gas.html

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