The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Yesterday, stock indices closed lower. The S&P 500 fell by 0.53%, while the Nasdaq 100 decreased by 0.38%. The Dow Jones Industrial Average lost 0.90%.
Asian indices rose today, recovering from Monday's sell-off, during which cryptocurrencies were the leaders in declines among global risk assets. Japanese government bonds increased in price after a closely watched auction of 10-year bonds attracted strong demand. The MSCI World Index rose by 0.5% before losing some ground. Futures for European stocks changed little, while futures for American stocks slightly declined during Asian trading. Bitcoin increased amid a volatile session following a drop of more than 5% on Monday.
The yen weakened against the US dollar after reaching a one-week high, when Bank of Japan Governor Kazuo Ueda provided the clearest hint yet of a potential rate hike soon. Yields on Japanese government bonds surged this year amid expectations of a growing budget deficit and another rate hike by the Bank of Japan. This is significant, as rising yields on short-term Japanese government bonds may contribute to an increase in yields on other long-term government securities, raising borrowing costs.
In the coming days, the main focus will be on central bank actions: the Federal Reserve's meeting is scheduled for December 9-10, while the Bank of Japan will announce its decision on interest rates on December 19, with a rate increase expected. Swaps now imply an approximately 80% probability of a rate hike by the Bank of Japan at its meeting this month and a greater than 90% probability at the meeting in January. Just a week ago, the December probability was only 36%.
US Treasury bonds stabilized after falling across the curve in the previous session: the yield on 10-year bonds jumped by seven basis points to approximately 4.1%. The yield on Australian 10-year bonds rose by six basis points.
Silver retreated from its record high. Gold also declined, while oil prices increased. It is evident that the commodity market is experiencing some stabilization as the year draws to a close after a significant shake-up this year.
Regarding the technical picture of the S&P 500, the main task for buyers today will be to overcome the nearest resistance level of $6,819. This would help the index gain ground and pave the way for a potential rally to a new level of $6,837. Another priority for bulls will be to maintain control over the $6,842 mark, which would strengthen buyer positions. In the event of a downturn amid reduced risk appetite, buyers must assert themselves around $6,801. A break below this level would quickly push the trading instrument back to $6,784 and open the way to $6,769.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
