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US indices closed in different directions yesterday. Dow Jones was up by 0.1%, while Nasdaq and S&P 500 slipped by 0.1%.
The increase in DJIA supported the oil rally, so Brent traded above $ 70. Strong US data also helped, even though it is quite obvious that economic growth is slowing down. The ISM reported that manufacturing activity in April was only 61.2 points, instead of the expected 62-62.5 points. As for the overall assessment of the US economy, the Federal Reserve will publish the Beige Book later today at 18:00 GMT.
Unsurprisingly, Asian markets also moved in different directions. China indices dipped by 1%, while Japan indices rose 0.4%
With regards to the world's epidemiological situation, a slight increase to 450,000 cases was observed on Tuesday. However, it is still 2 times lower than the peak record in April, so it is not of great concern.
Similar to Monday, India recorded around 130,000 cases on Tuesday, while Brazil saw a small climb to 78,000. Meanwhile, France listed 10,000 new COVID-19 cases.
This improvement significantly benefited large companies, as their market capitalization rose 48% ($ 10.3 trillion) and reached $ 31 trillion.
Hence, at the moment, the S&P 500 is at 4.204 points, and is projected to close around 4.160 - 4.240 points.
The USD index also has a value of 89.80, and is expected to remain at a range of 89.50-90.20.
As for USD/CAD, it currently costs 1.2060, but the rise in oil prices is putting pressure on the Canadian dollar. There is a huge chance that it will drop below 1.1980. Therefore, its range will be 1.1980 - 1.2150.
Conclusion: The US market will be driven by upcoming reports from the Fed, as well as data on US employment.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
