Trading cautious after yields pause - 9.3.2021

Top daily news

Stock markets lack common direction currently following a mixed session on Monday while US 10-year Treasury yields eased to 1.572. Twitter shares fell 5.18% Monday as it sued Texas Attorney General claiming retaliation for banning Trump’s account, Tesla stocks closed down 5.84% with losses in market capitalization in the past month hitting quarter-trillion.

Forex news

EUR USD +0.13%
GBP USD +0.5%
USD JPY +0.15%

The Dollar strengthening has paused currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.5% Monday.

Both EUR/USD and GBP/USD continued sliding Monday as German federal statistics bureau Destatis reported production in industry fell 2.5% over month in January. Both euro and Pound are higher currently against the Dollar. AUD/USD continued its sliding as USD/JPY accelerated its climbing yesterday with yen lower against the greenback currently while Australian dollar has reversed up.

Stock Market news

Indices Change
Dow Jones Index +0.04%
GB 100 Index -0.33%
Nikkei Index +0.99%
Hang Seng Index +0.12%
Australian Stock Index +0.47%

Futures on three main US stock indexes are higher currently after a mixed trading Monday as get-out and non-stay at home stocks outperformed tech stocks on hopes the $1.9 trillion relief Bill will boost the US economy. The three US main stock benchmarks ended mixed Monday recording returns ranging from -2.4% to +0.97% as Nasdaq entered correction territory with 10% fall from February record close.

European stock indexes are down currently after ending higher yesterday led by bank stocks. Asian indexes are mixed today with Nikkei leading gains despite Japan downgrading its fourth-quarter GDP as companies scale back spending.

Commodity Market news

Commodities Change
Brent Crude Oil +0.21%
WTI Crude +0.04%

Brent is edging higher ahead of data from the American Petroleum Institute later today. Prices closed lower Monday despite initial surge above $70 per barrel after news of Houthi attacks on oil facilities in Saudi Arabia. The US oil benchmark West Texas Intermediate (WTI) lost 1.6%. Brent fell 1.6% to $68.24 a barrel on Monday.

Gold Market News

Metals Change
Gold +0.84%

Gold prices are rebounding today . April gold lost 1.2% to $1678 an ounce on Monday.
https://www.ifcmarkets.com/en/market-overview/market-overview-09-03-2021

Wow that is such a large loss of market capitalisation from Tesla. Seem shifts are starting to occur across each instrument

Tesla back up over 12% today at last check!

Massive outflow and flowback of capital. Crazy times.