Tech stocks boosted by rising COVID-19 worries [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

Rising Covid cases don’t overwhelm stock investors, tech stocks renew record, yet oil and energy stocks feel the pinch of a retreat in crude prices ahead of Thursday’s OPEC+ decision.

Apple gains a further positive momentum, while the Roblox-Netflix teaming up for Stranger Things experience looks promising for Roblox future business.

Moderna hits a fresh record on news that its vaccine fights well the Delta variant, but the price seems overstretched at the current levels.

On the economic data front, investors will be closely watching the ADP report, and given the circumstances, the numbers better be good.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.