- Treasury bond yields validate Tuesday’s sharp rise.
- The dollar loses strength, is still far from recent lows.
- Wall Street rises after Tuesday’s declines.
Equity markets are rising modestly on Wednesday, following Tuesday’s decline. Dollar rebound runs out of steam as metals try to resurface after major correction.
Timid rises in stocks
futures of wall street They are trading higher, with the S&P gaining 0.45% and the Nasdaq 0.44%. In Europe, the FTSE 100 rises 0.12%, the DAX 0.15% and the CAC 40 0.34%.
Nancy Pelosi, the speaker of the US House of Representatives, ended her visit to Taiwan, which generated tensions with China and some fear in the markets on Tuesday.
In the Eurozone, the services PMI was revised upwards from the preliminary reading (50.6 to 51.2), retail sales registered an unexpected drop in June (-1.2%) and wholesale inflation rose more than expected in June (35.8 % annual). In the UK the services PMI was revised down (53.3 to 52.6).
In the US figures for the services sector will be published on Wednesday and for factory orders. On Friday it will be the turn of the employment report with non-farm payrolls. More Federal Reserve officials will speak publicly.
Robinhood Markets rises 2.15% in the premarket after announcing a 23% cut in jobs. airbnb falls 5.80%, affected by a pessimistic outlook for the coming months. PayPal rises 12% after reporting higher-than-expected earnings. eBayMarathon Oil, MetLifeBooking Holdings and Yum are among the companies that will release results on Wednesday.
The dollar had a strong rise on Tuesday, fueled by advances in Treasury bond yields. On Wednesday it is pulling back slightly, cutting a small part of the gains. The Swiss franc is one of the worst performers.
Metals try to recover after Tuesday’s sharp drop. The Prayed found support at $1,755, having approached $1,790 the day before. The silver trades in the $20.00 zone.
Oil prices had a rise in the last hour, and the barrel of WTI rises 0.65%. The focus is on the meeting of the Organization of Petroleum Exporting Countries and allies, from where various speculations have begun to emerge.
The cryptocurrencies advance with him Bitcoin trying to break above $23,500, up nearly $1,000 from the day’s low.
Technical levels
Source: Fx Street
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