SUMMARY

  • Emmanuel Macron, as President of France, has signaled to the market that he is ready to authorize bank mergers and acquisitions to consolidate the European financial sector.
  • Switzerland will host the peace conference on Ukraine in June. The country intends to maintain its neutral status on the world stage.
  • New York Stock Exchange President Lynn Martin has told Bloomberg that she expects many more U.S. and foreign companies to be listed on the exchange between now and the end of 2024.

 

KEY EVENTS:

  • UK unemployment rate
  • German CPI
  • Spain CPI
  • U.S. monthly PPI
  • Powell’s statement as Fed Chairman
  • U.S. API crude oil inventories

GOLD

Specifications

  • Leverage: 100
  • Units: 100
  • Margin requirement: USD$2167
  • Example: movement of USD$10 = $1,000 potential PL.
  • Support 1: 2338.37
  • Support 2: 2334.67
  • Resistance 1: 2343.96
  • Resistance 2: 2345.85

Fundamental Analysis

  • Emmanuel Macron, as President of France, has signaled to the market that he is willing to allow bank mergers and acquisitions to consolidate the European financial sector. He has also said that he is not entirely happy with Total’s IPO on the New York Stock Exchange.
  • GameStop shares rose 74.46% on the stock market yesterday. Analysts are watching for the return of meme stocks to the market.
  • Walmart has announced job cuts and asked remote workers to return to the office.
  • German CPI is forecast at 2.2% y/y, very close to the 2% target. Spanish CPI is forecast at 3.3% year-on-year.
  • Gold is above its 200-day moving average, looking to enter a resistance zone. The price has fallen from 2380 USD, but is trying to turn back to the upside.

USDCHF

Specifications

  • Leverage: 200
  • Units: 100,000
  • Margin requirement: USD$499
  • Example: 100 pips change in USDCHF price = USD1,000 potential PL.
  • Support 1: 0.9081
  • Support 2: 0.9079
  • Resistance 1: 0.9086
  • Resistance 2: 0.9089

Fundamental Analysis

  • Switzerland will host the peace conference on Ukraine in June. The country is trying to maintain its neutral status on the world stage.
  • The Swiss government has adopted a banking system of constant regulation of “too big to fail” banks to avoid situations like that of Credit Suisse.
  • According to the ranking of world financial centers, Switzerland has two cities in the top 20, Geneva and Zurich.
  • According to Thomas Schinecker, CEO of Roche, Switzerland cannot adopt the EU tax system because it is too high and lags behind the US and Hong Kong.
  • The USDCHF has crossed the 200-day moving average line and is looking for a bullish continuation above the 0.9100 level.

NASDAQ 100

Specifications

  • Leverage: 100
  • Units: 1
  • Margin requirement: USD$181
  • Example: movement of 100 points = $1,000 potential PL.
  • Support 1: 18271.41
  • Support 2: 18265.58
  • Resistance 1: 18281.66
  • Resistance 2: 18286.08

Fundamental Analysis

  • NYSE President Lynn Martin told Bloomberg that she expects many more U.S. and foreign companies to be listed on the exchange between now and the end of 2024.
  • Bank of America analysts commented that domestic demand continues to grow, even though interest rates remain high.
  • Intel shares rose 2.21%, boosted by a change in the composition of its management, as shareholders expect the company to make more inroads into the chip market.
  • Tesla rose 2.03%, helped by the reallocation of resources in the company’s electric supercharger division.
  • Apple shares rose 1.76%, as the company is set to sell the Vision Pro in the international market.

SOURCES

  • Thomson Reuters
  • Market watch
  • Bloomberg
  • Tradingview

 

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