Wyllian Capucci
5/20/2021
Improving slowly
Initial weekly unemployment benefit claims are expected to drop to 450,000, fromaccording to the average estimate made by economists consulted by Bloomberg. Onea small drop in continuous claims is also expected when the data are publishedat 9:30 am Eastern Time. For investors, the pace of economic recovery inUSA remains the main focus after yesterday’s Federal Reserve minutes showedthat some committee members are starting to talk about starting to talk about reducinggradual.
Catching my breath
After a wild session yesterday, the cryptographic world is much calmer thismorning. Bitcoin is trading close to $ 40,000, in line with what was 24 hoursago – before the crash that saw the digital token fall below $ 30,000. Other cryptocurrencieshave not recovered so strongly and the stock markets are still under pressure. Ark’s Cathie WoodInvestment Management, said it still expects Bitcoin to reach $ 500,000.
Slipping
Oil is falling, with a barrel from West Texas Intermediate for delivery in Julyclose to $ 62. Investors are concerned about the possibility that productionIranian market return to the global market, as uncertainty about the outlook for demandremains. It is not just oil falling, with iron ore falling in the trade ofAsia after Chinese authorities called for stricter supervision of labor marketscommodities. Copper was holding close to $ 10,000 a ton, after falling from3% from yesterday
Mixed markets
The possibility that the stimulus will be removed faster than expected in the midst of arapid economic recovery has made investors await the data they are looking for.make a suggestion. Overnight, the MSCI Asia Pacific index fell 0.2%, while the indexJapan’s Topix closed virtually unchanged. In Europe, the Stoxx 600 Index was 0.1%highest at 6:50 am, with traders prefering defensive names. The S&P 500 futurespointed to a lower movement in the opening, the 10-year Treasury yieldit was 1.659% and gold fell.
Coming
The latest Philadelphia Fed Business Outlook accompanies credits given at 9:30 am.The Bank of Canada Financial System Review is published at 12 noon. The Secretary of CommerceGina Raimondo holds a summit with companies affected by the global shortage ofsemiconductors. EU trade ministers have virtually joined the Trade RepresentativeUS Commerce, Katherine Tai, today for negotiations on lowering tariffs of the eraTrump. Kohl’s Corp., Ross Stores Inc. and Applied Materials Inc. are among the companies thatreported results
Source: https://wintrademarkets.com
