Opening Bell: Reflation Trade Retreats As Yields Fall; Dollar Plunges – Investing.com
- Date: 19-Apr-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Opening Bell: Reflation Trade Retreats As Yields Fall; Dollar Plunges – Investing.com
US futures struggle
Europe opened higher after advancing for 7 consecutive weeks
Dollar slump boosts gold
Key EventsEuropean stocks opened higher on Monday, while US futures on the , , and struggled as traders consider the path to global economic recovery while closely watching US earnings. The slump in yields, which started the recent bullish bout, is making us question whether there is another trend emerging.Bitcoin recovered after sliding back under $55,000 over the weekend, after its all-time high last week.Global Financial AffairsAt the time of writing, futures were all in the red with contracts on the NASDAQ 100 just marginally lower, while contacts on the S&P 500 and Dow retreated even more steeply after all three indices rosing for four weeks in a row.Contracts on the Russell 2000 are underperforming significantly. As such the week seems to be starting off with a retreat on last week's reflation trade.Russell 2000 DailyThe small cap index continued to languish in what may still prove to be a H&S top, while the RSI has been providing a negative divergence. A downside breakout of the pattern's neckline —the trendline that connects the lows—will complete a reversal.European shares on the added to seven weeks of
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