Five things traders need to know today US major equities r | FOREX/GOLD

Five things traders need to know today


US major equities retreated from record highs last week after the FED upgraded the economic projection and expected higher rates in 2023. Dow (US30) suffered a 10-day losing streak while Nasdaq 100 eked out small gains. European indices ended the week lower.


Gold plunged 6% on the week to $1,764.30, while Silver -7.56% at $25.79. WTI crude (SpotCrude) recorded a four-week rally to $71.43 despite some volatility after the hawkish Fed announcement. Bitcoin was down nearly 10% with the 50-day SMA crossing below the 100.


The US dollar index (USDX) extended gains to 92.30, the highest level since early April. USDJPY jumped to 110.21 despite the yield on the 10-year US Treasury lower than pre-FOMC level. The Bank of Japan kept monetary policy remained unchanged on Friday.


EUR was lower by 2% at 1.1859 on the weekly basis despite upbeat data, breaking below the 200-day SMA. GBP lost 2.24% to 1.3797 on worries of the Delta variant in the UK. Bank of England is scheduled to meet this Thursday.


AUD and NZD fell nearly 3% last week to the year-to-date lows amid USD resurgence, closing at 0.7479 and 0.6930 respectively. USDCAD pushed higher toward 1.2500.

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