European major indices are up sharply for the second consecutive day.
The German Dax rose 2.87% which was the best session in nine month. In the process the index gapped above its 200 day moving average at 15432.88 and also moved above its 100 day moving average at 15665.127. The next target comes near the 16000 area (see red numbered circles in the chart above).
The other European indices also moved up sharply. The provisional closes are showing:
- German DAX, +2.87%
- France's CAC +2.84%. That is the best session since November 2020
- UK's FTSE 100 +1.55%. The index traded at a new three high
- Spain's Ibex is up 1.1%
- Italy's FTSE MIB rose 2.4%
In other markets as European traders start to look toward the exits:
- Spot gold is up $6.81 or 0.39% at $1785.50
- Spot silver is up $0.19 or 0.84% at $22.56
- WTI crude oil futures are trading back above $72 and $72.65. The high price reached the $73.01 for the day
- Bitcoin is back above the $50,000 level at $51,515
In the US stock market, the NASDAQ index is leading the way with a gain of 3% currently. It is also testing its near converged 100 and 200 hour moving averages near 15687.
- Dow industrial average up 544.5 points or 1.54% at 35771
- S&P index up 98.54 points or 2.15% at 4690.13
- NASDAQ index up 457 points or 3.01% at 15683.95
In the forex market, the AUD is the strongest and the EUR is the weakest of the major currencies. The USD is mixed to lower with solid declines versus the "risk on/commodity currencies" (i.e., the CAD, NZD and AUD). The greenback is more modestly higher verse the EUR, GBP, JPY and CHF.
