DAILY MARKET NEWSLETTER - April 2, 2024: Mixed Markets, Dollar Strengthens on Manufacturing Data

DAILY MARKET NEWSLETTER - April 2, 2024

Market Summary

• Stocks: US markets closed mixed (Dow down, S&P 500 down, Nasdaq up). Growth in manufacturing boosted tech stocks.

• Bonds: US 10-year Treasury yield rose to 4.327%.

• Commodities: Oil hit a five-month high ($83.71), gold edged up (0.3%).

• Forex: US dollar strengthened, fueled by manufacturing data (dollar index at 104.96). EUR/USD, GBP/USD, AUD/USD all declined.

Key Market Movers

• Alphabet (GOOGL): +3.02%, record close of $155.49

• Bitcoin: Hit monthly high, pulled back in April trading.

Intraday Analysis & Trading Strategies

• GBP/USD:

• Short below 1.2575. Targets: 1.2525, 1.2500

• Watch for break below 1.2525 as a downside signal.

• USD/JPY:

• Long above 151.45. Targets: 151.80, 151.90

• Support at 151.45 may signal upside potential

• EUR/USD:

• Short below 1.0760. Targets: 1.0720, 1.0700.

• Break below 1.0720 suggests further decline

• Dow Jones (CME):

• Short below 39950.00. Targets: 39660.00, 39550.00

• Upside potential if resistance at 39950.00 is broken

Important Note:Market volatility can lead to rapid price changes. Use these levels and strategies as a guide, adapting them to the current market situation.

Disclaimer:This newsletter provides market insights and is not intended as investment advice. Always conduct your own research before making trades.

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