Back

US Market Review 29th April 2021

Apr 29, 2021 (10:36)

by Elina Nikolova

Nasdaq recorded record highs in April with an all time high at 14059.50. The ROC (Rate of Change) indicator presents a neutral situation as it is sitting exactly on the zero line. The price is trading in a range between 14059.50 and 13701.50. A break above the 14059.50 level will signal a new all time high rally while a break below the 13701.50 level will reverse the uptrend. Important support lines at 13289.00, 12627 and 12199.50 levels derived from previous daily bottoms as well as the tentative uptrend line that is formed from the March 5th bottom.

• The US markets will be full of activity for today as Crude Oil inventories open the news sequence , followed by important FOMC Statement, US Federal Funds Rate and the FOMC Press Conference. (Add US Crude analysis here tomorrow morning 28/04/2021)

• At 12:30 GMT we have the US Advance GDP quarter vs quarter data but in annualized form that shows the GDP Change per quarter. The Advance release is the earliest and thus tends to have the most impact.

• At 12:30 GMT the advance GDP Price index quarter vs quarter is also due. This indicates the change in the price of all goods and services included in Gross Domestic Product.

• At 12:30 GMT US Unemployment claims are also expected to be announced which basically is the number of individuals who filed for unemployment insurance for the first time during the past week. If unemployment claims drop it usually impacts the currency positively. The forecast is expected at 545,000 vs the 547,000 claims announced last week.

• At 14:30 GMT the Natural Gas storage inventories will be announced, which is Change in the number of cubic feet of natural gas held in underground storage during the past week. The previous storage surplus was at 38B cubic feet announced last week.

US Indices yesterday :

• Dow Jones -0.48%
• S&P 500 -0.08%
• Nasdaq -0.28%

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

Risk Warning and Disclaimer: Major risks connected with recommendations or opinions in this research report, including sensitivity analysis of relevant assumptions, are stated herewith. Contract for Differences (CFDs) are complex instruments and come with a high risk of losing money rapidly due to leverage. Trading Over The Counter (OTC) CFDs carries a high level of risk and can result in the loss of all of your investment. CFDs may not be appropriate and/or suitable for all investors. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. You should not invest money that you cannot afford to lose. Before deciding to trade, you should be aware of all the risks associated with OTC CFD trading, and seek advice from an independent and suitably licensed financial advisor. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. This research report provided by Depaho Ltd is a marketing communication that should not be interpreted as investment advice. This material is non-independent research. Non- independent research is “marketing communication”as indicated in Article 24(3) of MiFID II. It has not been prepared in accordance with the full legal requirements designed to promote independence of research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. This material may include “Investment recommendations” as defined in Article 3(1)(35) of the Market Abuse Regulation (“MAR”), namely any publications which may contain information that explicitly or implicitly recommends or suggests an investment strategy concerning a financial instrument, including opinion as to the present or future value or price of such instruments. Additional information with respect to any financial instrument referred to herein may be made available on request. The content of this material does not take into account the particular investment objectives, financial situation or needs of the recipients of this material. Before acting on any recommendations in this material, recipients should consider whether it is suitable for their particular circumstances and, if necessary, seek professional independent advice.

Live Feed

Instrument	Bid	Ask

Traders Trends new

See what others are Trading

Start trading