Investing.com | Jun 14, 2021 06:49
Stocks in Europe set new records, while US futures on the Dow, S&P, NASDAQ and Russell 2000 also flirted with all time-highs in trading on Monday as speculation increased that the Federal Reserve will persist in its dovish policy despite the economic rebound and higher inflation.
The dollar slid and gold traded lower.
In Europe, the STOXX 600 Index extended its four straight-week rally, after the European Central Bank proved persistent in its ultra-loose monetary policy.
Although US contracts were trading in the green, traders will be closely watching the US Federal Reserve two-day policy meeting and they will parse through the verbiage to find any signpost that the Fed may tapering its gargantuan QE program.
Asia was mixed in light holiday trading, including China, Hong Kong and Australia. Japan’s Nikkei 225 saw modest gains.
Yields on the 10-year Treasury note extended towards 1.47%, perhaps on their way back to the top of a falling channel.
The move reflects anticipation that the US central bank will reaffirm its unprecedented easing.
increased net bullish positions to an almost three-year high.
Oil extended the breakout of a bullish triangle.
A report that the Biden administration is considering ways to afford US refiners relief on biofuel sent corn, soybeans and soybean oil futures into a selloff.
US corn futures completed a bearish wedge that would challenge the uptrend line since the August low.
Soybean futures were struggling to complete a H&S top.
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