We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
Market News 【TOP1 Morning】U.S. stocks and gold rose in rage! Powell's “dove" speech, USD and U.S. debt both fell

【TOP1 Morning】U.S. stocks and gold rose in rage! Powell's “dove" speech, USD and U.S. debt both fell

Saudi Arabia requires state-owned enterprises to cut dividends, and the United States is preparing to lift sanctions on Iran. The two crude oil futures have been mixed; the U.S. stock market rose, and the Nasdaq index rose about 1%; the S&P 500 index hit another record at the close of trading on Wednesday A record high; Powell made a high dovish speech, the US dollar and US debt both fell, and gold rose in anger, reaching a high in more than a month.

TOPONE Markets Analyst
2021-04-09
687

sunrise-3053447_1920-1.jpg


Forex: USD fell to a two-week low

The dollar fell to a two-week low against a basket of currencies, following the decline in U.S. Treasury yields. Earlier data showed that the number of initial jobless claims in the United States unexpectedly rose last week.


The US dollar index fell 0.35% to 92.091, the lowest since March 23.


The pound was stable against the US dollar, and was generally flat for the day. After a tragic round of profit settlement, it stopped the recent decline. After a strong start to the year, traders are optimistic about the pound's near-term prospects.


Fed Chairman Powell hinted on Thursday that it is still far away from the Fed's reduction of support for the US economy. He pointed out that the expected price increase this year may be temporary and warned that the increase in the number of new confirmed cases of the new crown may slow the recovery. The benchmark 10-year bond yield was reported at around 1.632% on Thursday, and fell below 1.63% overnight. At the end of last month, the index touched 1.776%, the highest level in more than a year.


Gold: Gold price hits high

The price of gold hit a high in more than a month, as the dollar and U.S. Treasury yields fell, and the Fed and its Chairman Powell reiterated its moderate policy stance, which also boosted the attractiveness of gold prices.

Spot gold closed at 1755.84 US dollars per ounce, up 18.11 US dollars or 1.04%, the highest intraday hit 1758.76 US dollars per ounce, the lowest touched 1732.97 US dollars per ounce.

COMEX June gold futures closed up nearly 1.0% to 1,758.20 US dollars per ounce, a new closing high since late February.


"The U.S. dollar and U.S. yields are declining, and this is the key catalyst at the moment...a fairly unremarkable employment data is also helping to push up the price of gold," said Bob Haberkorn, senior market strategist at RJO Futures.


"In fact, we have broken through $1750, which is a key technical level, which shows that gold has some support to make it continue to rise."


Crude oil: oil prices closed mixed

The two major crude oil futures closed mixed. As of press time, US WTI crude oil futures for May closed down 17 cents, or 0.28%, to $59.60 per barrel; Brent June crude oil futures closed up 4 cents, or 0.06%, to $63.20 per barrel. On the previous trading day, U.S. oil closed up 44 cents, or 0.74%, to $59.77 per barrel; Bulk Oil closed up 42 cents, or 0.67%, to $63.16 per barrel.


The latest report released by the U.S. Energy Information Administration (EIA) shows that as of the week of April 2, crude oil inventories fell by 3.522 million barrels to 498.3 million barrels, a decrease of 0.7%. U.S. domestic crude oil production decreased by 200,000 barrels to 10.9 million barrels per day. Imported crude oil last week was 6.264 million barrels per day, an increase of 119,000 barrels per day from the previous week. The four-week average supply of crude oil products was 19.296 million barrels per day, an increase of 5.5% over the same period last year. Crude oil exports increased by 260,000 barrels per day to 3.434 million barrels per day last week.


US stocks: Standard & Poor's record high

The Dow Jones Industrial Average closed up 57.31 points, or 0.17%, to 33,503.57 points; the S&P 500 index closed up 17.22 points, or 0.42%, to 4,097.17 points; the Nasdaq Index closed up 140.47 points, or 1.03%, to 13,829.31 points .


The recent fall in bond yields has boosted high-priced growth stocks such as technology stocks, which are the sector with the biggest gains today. Tech giants such as Apple, Microsoft and Amazon gave the S&P 500 the biggest boost.


The U.S. stock market rose, and the Nasdaq index rose about 1%. The Nasdaq, which is dominated by technology stocks, fell on Wednesday, but it was still about 2.9% above the record closing point in February. The Standard & Poor's 500 Index hit a record high at the close on Wednesday. The Dow Jones Industrial Average rose, but it was still below Monday's record closing level.


The yield on the 10-year U.S. Treasury note has been fairly stable recently and was still below 1.7% on Thursday. The rapid rise in market interest rates in 2021, including record highs for 14 consecutive months at the end of March, hit growth stocks, many of which were technology stocks, because higher borrowing costs eroded the value of future profits and squeezed valuations.


Today’s focus is on:

20:30 Canadian unemployment rate (March)

20:30 Changes in Canadian employment (March)

22:00 U.S. wholesale inventory monthly rate (February)



Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free