For eight consecutive sessions, world stock indices have shown fairly steady growth: Nasdaq rewrites highs at 15372, SP500 is testing 4540 for strength, and DAX is above 15900.
Now investors are betting that after the publication of disappointing data on the US labor market at the beginning of the month, the FRS will indeed postpone the start of curtailing the QE program.
Investors are also waiting for further drivers from the central banks of other countries. The main event of the week is the ECB meeting on Thursday. On the same day, the markets will listen to representatives of the Bank of Australia, and on Friday, they will learn about the plans of the Central Bank of Canada and Russia. The main expectations are related to the emergence of signs of recovery in the regions after coronavirus restrictions.
Until then, it looks like the dollar will continue to hover around recent lows as it does this morning. Gold also didn’t push it up and retraced slightly from its recent monthly peaks of $1,800.
The American currency usually moves in the opposite direction from the yellow metal, and this time was no exception: just compare EURUSD and GOLD 15-minutes charts. Investors try not to make sudden moves without significant drivers. Most observers expect the ECB’s bond purchases to slow, especially after last week’s data showed inflation to rise to a 10-year high.
Another important news concerns cryptocurrencies. This morning, El Salvador became the first country to accept Bitcoin as legal tender on par with the US dollar. That helped BTC not only stay above $50,000 but even surpass $52,500.
