Fundamental analytics

Investors take profits after four days equities rally

US futures pointed to a lower Wall-Street start, which would mark the end of a four-day rally in stocks. This is exactly what happened as the opening of the US stock markets took place in the red , seems that investors turned their attention after the disappointing results of trade negotiations between the US and China and Jerome Powell speech. That were two factors that supported the markets.

With the partial closure of the US government, weekly initial jobless claims is in market focus. The number of applications for unemployment benefits fell by 17,000 to 216,000 per week, below the forecast of 226,000 in a survey of economists. Besides investors will focus on the performance of six Fed officials, including Powell and Clarida.

In general, stocks, bonds and the dollar are consolidating. This means that equities will come under pressure and the dollar also has a chance for a technical rebound. Euro is gradually rising, leading to its best level around 1.1665 since October. After falling near 109 figure in the last two sessions, USD dollar fell to almost 107 level. Sterling is still limited to $ 1.28. No new high was designated so far on European session. 

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