Here are today's directional views from the global research desks of Ventura Prime FX! These are starting points for your own research to identify opportunities that make sense for you.
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| DAILY NEWS BRIEF - MARKET OUTLOOK |
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| Here are today's directional views from the global research desks of Ventura Prime FX! These are starting points for your own research to identify opportunities that make sense for you. |
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Market Wrap: Stocks, Bonds, Commodities |
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On Friday, U.S. stocks gained momentum, allowing both the S&P 500 and the Dow Jones to mark record closes for the second time within the week.
Dow Jones +237 points (+0.48%) to 49,504
S&P 500 +44 points (+0.65%) to 6,966
Nasdaq 100 +259 points (+1.02%) to 25,766
The closely-watched U.S. official jobs report showed an addition of 50,000 non-farm payrolls in December, fewer than expected, with the jobless rate dipping to 4.4%.
Alphabet (GOOGL) +0.96%, posting a three-session rally. The stock once touched an all-time high of 330.83 dollars during the session, with its market capitalization nearing 4 trillion dollars.
Most semiconductor stocks posted gains:
Intel (INTC) +10.80%
Micron (MU) +5.53%
Broadcom (AVGO) +3.76%
Nvidia (NVDA) -0.10%
Advanced Micro Devices (AMD) -0.74%
Oklo (OKLO) and Vistra (VST), both nuclear power companies, jumped after revealing projects signed with Meta (META):
Oklo (OKLO) +7.91%
Vistra (VST) +10.48%
Meta (META) +1.08%
Southwest Airlines (LUV) +3.70% after being upgraded to "overweight" by JPMorgan.
The U.S. 10-year Treasury yield +0.2 basis point to 4.169%.
European stocks closed higher:
DAX 40 +0.53%
CAC 40 +1.44%
FTSE 100 +0.80%
Gold price +31 dollars to 4,509 dollars an ounce, not far away from its all-time high of 4,550 dollars.
U.S. WTI crude futures +1.36 dollar (+2.35%) to 59.12 dollars a barrel.
Oil prices were boosted by concerns over the situation in oil-producing Iran, which saw wide-spreading protests throughout the country.
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The U.S. dollar strengthened further against other major currencies, with the dollar index climbing to 99.13.
EUR/USD -26 pips to 1.1632. Germany’s industrial production +0.8% month on month in November (vs -0.4% expected).
USD/JPY +103 pips to 157.90. The yen weakened on a news report that Japan’s prime minister may call for a snap election for parliament's lower house in February.
GBP/USD -36 pips to 1.3400, AUD/USD -10 pips to 0.6687.
USD/CHF +18 pips to 0.8007, USD/CAD +46 pips to 1.3907.
Over the weekend, Bitcoin managed to stay above 90,000 dollars.
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Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out. |
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| USD/JPY Intraday: watch 157.35. |
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| Pivot: |
| 158.20 |
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| Our preference: |
| Short positions below 158.20 with targets at 157.35 & 157.05 in extension. |
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| Alternative scenario: |
| Above 158.20 look for further upside with 158.45 & 158.70 as targets. |
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| Comment: |
| A break below 157.35 would trigger a drop towards 157.05. |
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| EUR/USD Intraday: bullish bias above 1.1635. |
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| Pivot: |
| 1.1635 |
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| Our preference: |
| Long positions above 1.1635 with targets at 1.1680 & 1.1700 in extension. |
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| Alternative scenario: |
| Below 1.1635 look for further downside with 1.1620 & 1.1605 as targets. |
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| Comment: |
| The RSI calls for a new upleg. |
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| Dow Jones (CME) (H6) Intraday: bullish bias above 49450. |
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| Pivot: |
| 49450 |
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| Our preference: |
| Long positions above 49450 with targets at 50050 & 50220 in extension. |
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| Alternative scenario: |
| Below 49450 look for further downside with 49340 & 49195 as targets. |
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| Comment: |
| The RSI is above its neutrality area at 50%. |
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| S&P 500 (CME) (H6) Intraday: intraday support around 6990. |
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| Pivot: |
| 6990 |
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| Our preference: |
| Long positions above 6990 with targets at 7040 & 7065 in extension. |
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| Alternative scenario: |
| Below 6990 look for further downside with 6975 & 6950 as targets. |
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| Comment: |
| Technically the RSI is above its neutrality area at 50. |
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| GBP/USD Intraday: bullish bias above 1.3385. |
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| Pivot: |
| 1.3385 |
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| Our preference: |
| Long positions above 1.3385 with targets at 1.3450 & 1.3470 in extension. |
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| Alternative scenario: |
| Below 1.3385 look for further downside with 1.3365 & 1.3345 as targets. |
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| Comment: |
| The RSI calls for a new upleg. |
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| Gold Intraday: further advance. |
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| Pivot: |
| 4520 |
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| Our preference: |
| Long positions above 4520 with targets at 4630 & 4650 in extension. |
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| Alternative scenario: |
| Below 4520 look for further downside with 4480 & 4460 as targets. |
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| Comment: |
| The RSI shows upside momentum. |
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| Silver Intraday: expect 86.80. |
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| Pivot: |
| 81.00 |
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| Our preference: |
| Long positions above 81.00 with targets at 85.20 & 86.80 in extension. |
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| Alternative scenario: |
| Below 81.00 look for further downside with 79.30 & 78.25 as targets. |
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| Comment: |
| The RSI shows upside momentum. |
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| Crude Oil (WTI) (H6) Intraday: bullish bias above 58.55. |
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| Pivot: |
| 58.55 |
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| Our preference: |
| Long positions above 58.55 with targets at 60.10 & 60.80 in extension. |
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| Alternative scenario: |
| Below 58.55 look for further downside with 57.90 & 57.50 as targets. |
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| Comment: |
| The RSI is mixed to bullish. |
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TRADING FOREIGN EXCHANGE ON MARGIN CARRIES A HIGH LEVEL OF RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS.
THE POSSIBILITY EXISTS THAT YOU COULD SUSTAIN A LOSS OF SOME OR ALL OF YOUR INITIAL INVESTMENT AND THEREFORE YOU SHOULD NOT INVEST MONEY THAT YOU CANNOT AFFORD TO LOSE.
THE HIGH DEGREE OF LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU. BEFORE DECIDING TO TRADE FOREIGN EXCHANGE OR CFD’S YOU SHOULD CAREFULLY CONSIDER YOUR INVESTMENT OBJECTIVES, LEVEL OF EXPERIENCE, AND RISK APPETITE.
YOU SHOULD BE AWARE OF ALL THE RISKS ASSOCIATED WITH FOREIGN EXCHANGE AND OTHER CFD TRADING, AND SEEK ADVICE FROM AN INDEPENDENT FINANCIAL ADVISOR IF YOU HAVE ANY DOUBTS. VPFX RECOMMENDS READING THE RISK DISCLOSURE SECTION OF THE PROSPECTUS FOR ANY FINANCIAL PRODUCT MENTIONED.
VPFX is the trading name for Ventura Prime FX Limited with registration number LL16224 registered in Labuan F.T., Malaysia.
Ventura Prime FX Limited is authorised and regulated by the Labuan Financial Services Authority (LFSA). Registered Address:Kensington Gardens, No U1317, Lot 7616, Jalan Jumidar Buyong, 87000 Labuan Federal Territory, Malaysia
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