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Investor sentiment improves in light trading

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    Equities struggle amid economic and China-related concerns

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    Dollar pressured by positive risk sentiment in thin markets

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    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

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    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

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Home » Investor sentiment improves in light trading

Investor sentiment improves in light trading

by Stephen Soo
May 3, 2021 03:22
in Fundamental analysis
0
bankofcanada

German retail sales data came in far better than expected

Following a retreat on Wall Street ahead of the weekend, Asian stocks were mostly lower in Asia in thin trading Monday, as many markets closed for holidays. Investors remain cautious amid the surge in coronavirus cases in the region, particularly in Japan and India. As such, Hong Kong’s Hang Seng lost 1.28%, the Kospi in South Korea slipped 0.66% while Australia’s S&P/ASX 200 bucked the trend to gain 0.04%.

In Europe, equities rallied on Monday as regional investors bullish about the global economic recovery. The Euro STOXX index rose 0.68% in early trading, with Wall Street futures being higher as well, pointing to further gains after surging to fresh all-time highs last week. German retail sales data for March came in far better than expected, adding to the upbeat tone in the regional markets.

Meanwhile, the dollar keeps more mixed so far in the session. EURUSD managed to hold above the 1.2000 figure during the recent sell-off and turned marginally positive on the day in recent trading. Now, the euro needs to overcome the 100-DMA in order to extend recovery from Friday’s plunge when the dollar rallied across the board.

Oil prices have been under pressure since last Friday as the second wave of a coronavirus epidemic in India offsets optimism about a strong rebound in demand in other countries. Brent crude fell to the $66 area earlier in the day before bouncing slightly. Despite the current retreat, the bearish potential is limited as long as the prices stay above the 20-DMA, today at $65.30. In the short term, a relatively strong dollar could cap recovery attempts. On the upside, the immediate barrier now arrives at $67, followed by the $67.40 area.

Tags: EURUSDHang SengOilS&P 500Stoxx 600
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Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

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