Final days of the Q
|New infrastructure deal, crushing analysis for S&P 500 closing with a new ATH again and upcoming quarter close is days away.|
We’re excited to continue growing Kumo Markets, make you a part of our community and introduce even more great changes over the next month. Thank you all for your support, we could not do it without you.
What moved the markets?
Futures rose last week as euphoria swept through US equity markets. S&P 500 and NASDAQ hit new records (you remember our
analysis?) after the US president announced infrastructure spending convincing the investors that current inflation is transitory.
Bank of England was hesitant to signal about higher interest rates having Sterling move lower. BoE decided to hold the interest rates and its current stimulus program.
Gold price has been consolidating in a very narrow range last week. The recent plunge of the metal has not recovered yet and greater fiscal spending along with more patience from the US Federal Reserve have not been able to move it higher. A ranging market though means a rapid expansion to one or another side very soon! Keep your eye on it.
EUR / GBP – a pair to watch
The Pair has been consolidating for more than a week already showing no willingness to move either to the upside or the downside. Yet, our team is still bearish on this particular pair. We have just cropped the equal highs from two weeks ago and our hope for this week is to breach the equal lows resting just below 0.855 level. With that and the economical calendar in mind, a rapid move to the upside might be our next concern!
What’s new to come?
With recent improvements in spread, much more staff joining to support you pretty much 24/7 and a 180 in our direction with the rebranding we did just a month ago.. We are happy to say that we are very close to launching copy trading. Just as promised! Stay tuned and attached to your screens to receive the weekly updates with more information on upcoming copy trading launch very very soon. Lot’s to come this Thursday!