Markets have eased off after the gains of yesterday, content to consolidate around these levels after all the volatility of the past week. Signs of division in European capitals reduced the chance of further organised sanctions against Russia, but there is still a faint chance that they will pull something together at the last minute, applying some eurozone crisis management to the situation. SSE and LSE have gone ex-dividend today, knocking a modest amount off the morning gains, but it was Capita that stole the limelight with a bullish update that points towards a strong year ahead. The shares have spiked over 3% to all-time highs, as investors got behind the chief executive’s plan for the year ahead. Yet again the BoE minutes were a source of little excitement in voting terms, but a subtle shift does seem to be underway below the surface, as the recovery looks to become more established some committee members have become less anxious about a potential rate rise. GBP/USD continued to drift in the wake of the minutes but the general course of events does point towards a $1.72 reading here in due course.
It wasn’t the most thrilling set of results from Apple, but the figures were enough to assuage any lingering doubts about iPhone growth. iPad growth is a different story, and it seems the high price tag for the device is still acting as a deterrent for some consumers. New all time highs on the S&P 500 yesterday came as geopolitical concerns receded, and while US Treasury yields maintain a clear distance from the 3% level there seems little that can really endanger the rally. Ahead of the open, we are expecting the Dow Jones to start unchanged at 17,113.
Recommended Content
Editors’ Picks
USD/JPY holds positive ground around 151.50 following Japanese CPI data
The USD/JPY pair holds positive ground for the second consecutive day near 151.45 on Friday during the early Asian trading hours. The cautious approach from the Bank of Japan to keep monetary conditions accommodative exerts some selling pressure on the Japanese Yen.
AUD/USD depreciates on risk aversion amid a stronger US Dollar
AUD/USD extends its losses for the second successive session on Friday. However, market activity is expected to be subdued due to light trading on Good Friday. Meanwhile, the US Dollar strengthens as recent data indicates annualized economic expansion in the United States, driven by consumer spending.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Top 3 Price Prediction BTC, ETH, XRP: Retail watches from the sidelines with a bias for shorts
Bitcoin is showing strength as markets head into the Easter holidays. As it rises, altcoins are following suit, with Ethereum and Ripple posting almost similar gains. Meanwhile, there remains an unfilled CME Gap, with a lot of liquidity also resting above and below BTC price.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.