Nature

Major US indices open higher but off their pre-market highs


Major indexes are slightly to the left on hopes that Russia’s Putin may succumb to some of the economic pressures. Of course, what he says and what he does are often two separate things.

A snapshot of the market currently shows:

  • Dow Industrial Average up 272.13 points or 0.82% to 33446.21
  • S&P index up 27.78 points or 0.65% to 4287.29
  • NASDAQ index up 77.44 points or 0.59% 13207.41
  • Russell 2000 up 12.22 points or 0.61% to 2023.91

Major indexes are up for only the second time in seven trading days.

In other markets:

  • Spot Gold is down $25 or -1.26% at $1971.90
  • Spot Silver is down $0.15 -0.66% $25.73
  • Crude Oil is trading at $107.41, up from yesterday’s settlement price of $106.02, but off the high of $110.25
  • bitcoin is back below the $40,000 level at $39,505 as it wanders above and below this natural resistance/support level.

In the US debt market,

  • 2 years yield
  • The 10-year is at 1.997%, up 0.5 basis points
  • 30-year is at 2.371%, unchanged on the day

The CAD is now the strongest of the greats currencies

Currencies

Currencies are generally a widely circulated form of money, being the primary medium of exchange when it comes to buying and selling goods and services. These are often issued by a specific government or set of governments, in the form of paper notes and coins. Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin. Currencies serve as the backbone of the economy of the country or countries, due to the perception of value held by the people who use that currency. For example, the US dollar (symbol $, code USD) or the British pound sterling, (symbol £, code GBP), also called fiat money, because they are not linked to any specific asset, such as gold or money. These metals were traditionally used as the primary means of payment, as they had real and effective value. Even after the introduction of paper banknotes, many countries maintained a gold standard for much of the 20th century, meaning that one unit of currency could be exchanged for a fixed amount of gold. How to exchange currencies? The modern world, with the invention of electronic networks, computers and the Internet, has allowed the transfer of money to occur almost instantaneously. It also spawned a new era in currencies, including digital currencies, such as Bitcoin and Litecoin. Not backed by any government, but based on a complex set of mathematical software algorithms, the ubiquity of the internet has sparked interest and adoption in digital currencies, while offering relative anonymity. Digital currencies can now also be traded online, through exchanges and brokers, similar to foreign currency trading, known as the forex market. Forex is the largest market in the world, with a turnover of more than 5 trillion dollars per day, where fiat and floating currencies are bought and sold against other currencies, such as the euro against the dollar (EUR/USD) and the pound sterling against the Japanese yen (GBP/JPY).

Currencies are generally a widely circulated form of money, being the primary medium of exchange when it comes to buying and selling goods and services. These are often issued by a specific government or set of governments, in the form of paper notes and coins. Other forms of currencies include previous metals such as gold and silver, and digital currencies such as Bitcoin. Currencies serve as the backbone of the economy of the country or countries, due to the perception of value held by the people who use that currency. For example, the US dollar (symbol $, code USD) or the British pound sterling, (symbol £, code GBP), also called fiat money, because they are not linked to any specific asset, such as gold or money. These metals were traditionally used as the primary means of payment, as they had real and effective value. Even after the introduction of paper banknotes, many countries maintained a gold standard for much of the 20th century, meaning that one unit of currency could be exchanged for a fixed amount of gold. How to exchange currencies? The modern world, with the invention of electronic networks, computers and the Internet, has allowed the transfer of money to occur almost instantaneously. It also spawned a new era in currencies, including digital currencies, such as Bitcoin and Litecoin. Not backed by any government, but based on a complex set of mathematical software algorithms, the ubiquity of the internet has sparked interest and adoption in digital currencies, while offering relative anonymity. Digital currencies can now also be traded online, through exchanges and brokers, similar to foreign currency trading, known as the forex market. Forex is the largest market in the world, with a turnover of more than 5 trillion dollars per day, where fiat and floating currencies are bought and sold against other currencies, such as the euro against the dollar (EUR/USD) and the pound against the Japanese yen (GBP/JPY).
Read this term after their better than expected employment report. The USDCAD fell below its 200 hourly moving average at 1.2751 and its 50% midpoint of the March trading range at 1.27432. The price is currently breaking below the 1.2700 level and looking towards the next target between 1.2680 and 1.26846. Its 100-day moving average is even lower at 1.2666 and becomes a bearish target

The weakest of the majors is the JPY. The USD is more bullish with the largest gains against the JPY, AUD, NZD and CHF.

Strongest and Weakest Majors at US Stocks Open


cnbctv18-forexlive-benzinga

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