Currencies
EUR/USD – moved down to the next support level around the 1.117 level before moving slightly up. USD/JPY – was not able to push higher to test the resistance just below the 111 level, and instead reaffirmed the support of the recently broker resistance just below the 110 level.
GBP/USD – moved up after the strong data out of the UK, but just as quickly moved back to where we started. Nevertheless, there has been another poll showing a firm majority in favour of staying in the EU, so it looks like a Brexit, just as the Grexit, won’t take place. Still, a month is a long time and a lot can happen.
Indices
DAX 30 – moved down towards the support around the 9815 level but closed just above this level. We can also see a downwards trend line which started last month.
S&P 500 – moved shortly below the support around the 2030 level, but quickly moved back up above this level.
Commodities
Gold – we saw gold move lower and indeed coming close to the 1240 level, although it managed to stay a bit above that level.
Oil – moved down for most of the day until reports came in out of Nigeria that there were more issues and another oil refinery was closing down amid a blockade. It was also reported that the demand for oil in April was the highest it has been in recent years. In addition the USD weakened a bit, also helping oil move up. We are again trading close to the resistance.
Stocks
Bayer – the news that Bayer is looking to take over Monsanto (NYSE:MON) was not well received and the stock dropped nearly 8% as there is concern over its finances and debt.
Tesla (NASDAQ:TSLA) – raised around $1.5 billion yesterday when it sold more stocks and also reported that reservations for its new Model 3 are quite high, and this is apparently what has driven the company to put forward by 2 years its plan to build 500,000 cars a year reported recently.
By Shawn Koopman