The Nasdaq 100 (NAS 100) continues the recovery
Indices remain buoyant as we head into another week of potential growth. The Nasdaq 100 (NAS 100) remains in bullish mode after almost making a 100% recovery from the sell-off that happened in March. Tech giants have been the main winners in the past few sessions, with Nvidia, Amazon, and Alphabet adding over 6%, showing why they are the main players in the market. 22000 is the hurdle ahead for buyers, whilst any potential pullback needs a close below 20000.
EURUSD losing grip
The Euro continues to slide lower as prices remain in a bearish channel. With last week’s inflation reading not giving much direction for the market, it was all about the next move from Donald Trump that had traders on the edge of their seats. With Europe looking to strike a trade deal with America like the UK and China have done, the Euro could remain pressured until the end of the month. Bearish sentiment could sink the Euro to 1.1000, with 1.1360 as the first resistance.
UKOIL retreats as demand remains uncertain
Oil prices across the board moved lower with expectations for a U.S.-Iran nuclear deal, which could result in sanctions being eased and more barrels released into the market. With President Trump admitting Iran was close to agreeing to the terms, the black gold fell away from its recent peak. This move is symbolic of the overall wariness about demand growth for the rest of the year. 62.00 is fresh support, and 66.50 remains the first hurdle to the upside.
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The post The Week Ahead – Sticky Inflation Leaves a Sour Taste appeared first on Orbex Forex Trading Blog.