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Buy (almost) everything is back - MarketPulse

Buy (almost) everything is back
April 6, 2021SharePrint
Stock markets rise, US dollar dips
In a flashback to the future, US markets fully returned to work overnight and partied like it was 2020. Stock markets powered higher; the US dollar fell at the expense of risk-correlated currencies, US yields eased slightly, and industrial metals rose. Gold and cryptos both had positive days with only oil suffering, which we will discuss later.
There seems to have been a delayed reaction to Friday’s impressive Non-Farm Payrolls. The whole buy everything process being given another sugar rush by the US ISM Non-Manufacturing PMI blowing forecasts out of the water. Markit Services PMI had outperformed as it rose to 60.40, but the ISM data stole the show. Non-Manufacturing PMI for March rose to 63.70 versus 59.0 expected, as the US reaps the Covid-19 jabs in arms, stimulus cheques peace dividend faster than expected.

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Asian equities refuse US buy-in - MarketPulse

Asian equities refuse US buy-in
Posted 8 hours agoSharePrint
Wall Street climbs but Asia hesitates
US equities had a mighty session overnight, powered by ISM and Non-Farm Payroll recovery hopes. However, Asia’s markets, less the sheep followers of Australia, have adopted a much more cautious tone. That is a pattern that repeated itself last week, where strong rallies on Wall Street were not replicated in Asia. Overnight the S&P 500 rose 1.44%, the Nasdaq rallied by 1.67%, and the Dow Jones finished 1.12% higher.
The schizophrenic behaviour of Wall Street last week, which spent it chasing its tail on a day-to-day basis, could be part of the reason. Doubts over the longevity of the rally overnight are as good a reason to be cautious as any. It could also be that investors globally, including Asia, are following the noise and concentrating on the seemingly effortless gains available on Wall Street. US index futures have also edged lower this morning after yesterday’s rally. Nagging Covid-19 fears in China, South Korea and Japan, mainly the latter two, may also be sapping investors’ nerves.

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US dollar pummelled - MarketPulse

US dollar pummelled
Surge in risk sentiment sends US dollar reeling
The US dollar wilted overnight before the onslaught of bullish risk sentiment that swept Wall Street after Friday’s Non-Farm Payrolls and the overnight ISM Non-Manufacturing PMI data. The dollar index fell 0.47% to 92.57, although it has recovered slightly in Asia to 92.68. Notably, despite the robust ISM data and aggressive equity rally, US yields drifted lower, undermining US dollar support. The fall overnight leaves the dollar index not far from its 92.50 pivot point, and a daily close below that suggests a deeper retracement to 92.00 initially.
The majors rallied overnight, but the story was as much a weak US dollar one than the dawn of a new day for the likes of the euro and yen. EUR/USD rose 0.44% to 1.1810, and if it closes above 1.1800 this evening, further gains are possible. Euro sentiment, though, will remain clouded by its Covid-19 situation and the potential Ukraine flashpoint.

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Dude, where's my toys? - MarketPulse

Dude, where's my toys? - MarketPulse
marketpulse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketpulse.com Daily Mail and Mail on Sunday newspapers.

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