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  • $Gold trying to build a base off of that 1725 level - one minute chart so super small sample size. but that bearish run was aggressive $GC $GLD https://t.co/USjAU0lcig https://t.co/uubVG4Jpe2
  • Now up 40 handles from the $SPX's stalled break down. Looks like we are in for yet another interesting, intraday volatility day
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.19% 🇯🇵JPY: -0.33% 🇪🇺EUR: -0.41% 🇨🇦CAD: -0.45% 🇳🇿NZD: -1.11% 🇦🇺AUD: -1.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/e6FkqKIOLF
  • - There’s No Fundamental Justification For A Tightening Of Nominal Bond Yields At The Long End - Governing Council Should Instruct Board At March 11 Meeting To Fight Unwarranted Tightening Of Financing Conditions
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: US 500: -0.17% Germany 30: -0.70% Wall Street: -0.85% France 40: -1.46% FTSE 100: -2.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/rgg0WIgTxK
  • ECB's Stournaras says ECB should accelerate PEPP purchases
  • Another brutal day for gold as it breaks beneath prior February lows Read more - https://www.dailyfx.com/forex/market_alert/2021/02/25/Gold-Price-Plummets-as-Treasury-Yields-Soar-Where-to-Next-for-Gold.html?ref-author=phanks&QPID=917701&CHID=9 $GLD $XAU https://t.co/5qpaELXVLz
  • $Gold sell-off getting nasty just started to test 38.2 of the 18-20 major move ~1725 $GC $GLD https://t.co/1cb3hjRAR2 https://t.co/nXy6gomZU0
  • Gold printed a fresh eight-month low earlier in today’s session and the precious metal looks set to fall further if US Treasury yields resume their multi-month rally. Get your $XAUUSD market update from @nickcawley1 here:https://t.co/I4RpWM0mEY https://t.co/OrtbLLncuK
  • $Silver not able to escape this rates move, testing tl support. not quite as bearish looking as $gold https://t.co/XnW51WNiBd
Crude Oil Prices Soaring, S&P 500, Dow Jones Heading Higher - US Market Open

Crude Oil Prices Soaring, S&P 500, Dow Jones Heading Higher - US Market Open

Justin McQueen, Analyst

Crude Oil , GBP, S&P 500 Analysis & News

  • Crude Oil Extending Gains
  • Risk Sentiment Firmer
  • GBP Hitting Key Levels

QUICK TAKE: Crude Oil Prices Crack $60, S&P 500, Dow Jones Heading Higher

Equities: A strong lead from Asia and Europe sees US futures comfortably in the green. The US Senate voted (51 vs 50) to pass budget measures to adopt the fast-track Biden stimulus plan, starting the reconciliation process. US Treasury Secretary Yellen further stoked the reflationary theme by arguing that the benefits of Biden’s stimulus plan to the economy outweighed the inflation risks. Elsewhere, an area I don’t focus on a great deal, but is worth mentioning, is Tesla announcing that they invested $1.5bln in Bitcoin in January and may start to accept Bitcoin as a form of payment soon, which in turn saw Bitcoin hit a fresh record high at 44,600. (Full report).

Euro Stoxx 50 Sector Breakdown

Outperformers: Basic Material (1.7%), Industrials (1.2%), Energy (1.0%)

Laggards: Utilities (flat), Consumer Staples (0.3%), Consumer Discretionary (0.6%)

US Futures: S&P 500 (2.1%), DJIA (2%), Nasdaq 100 (1.7%)

Intra-day FX Performance

Crude Oil Prices Soaring, S&P 500, Dow Jones Heading Higher - US Market Open

FX: Little to say about FX markets, which have gotten off to a rather slow start. GBP is on the back burners slightly with GBP/USD pulling back from the 1.3740-60 resistance area, while GBP/JPY rejected the 2020 peak at 144.95 (GBP levels to watch). The USD has managed to hold onto the 91.00 handle as short-squeeze risks remain. Reminder, that this had been evident in the latest COT report.

Commodities: Oil prices haves remained on the front foot with Brent crude futures hitting $60/bbl. Of note, over the weekend, US President Biden stated that the US will not lift sanctions to bring Iran to talks.

Looking ahead: DailyFX Calendar

Crude Oil Prices Soaring, S&P 500, Dow Jones Heading Higher - US Market Open

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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