Gold, Crude Tumble To Start The Week

Commodity prices tumbled on Monday, as traders began to take profits following recent gains.

Gold fell by as much as $60 to start the week, after closing in on a record high on Friday.

The decrease persists despite continuous attacks by the Israel Defence Forces in Gaza, and despite calls for a ceasefire aimed at averting a larger regional conflict

 Crude also slipped on Monday, falling to a one-month low as a result of today’s selloff.

As of writing this, XAUUSD is trading at $2,329, after peaking at $2,388 earlier in the day.

S&P 500 Rebounds Ahead of Key Week of Tech Earnings

The S&P 500 snapped a recent losing streak to start the week, ahead of a big week of U.S. tech earnings.

Tesla is set to release its Q1 report on Tuesday, with Meta Platforms holding its earnings call on Wednesday.

Following this, Microsoft and  Google’s parent company Alphabet will both release quarterly figures on Thursday. 

Over the last few weeks, several large U.S. investment banks like J.P. Morgan and Goldman Sachs have outperformed expectations, and it is anticipated that the tech sector will continue this trend.

Presently, the S&P 500 is up 0.92%.

USDJPY Surges to a Fresh 34-Year High

The boost in the U.S. stock market has come as the dollar continues to strengthen against a basket of other currencies.

USDJPY rallied to a multi-decade high in today’s session, as markets are now buying into the Federal Reserve’s “higher for longer” rate policy.

As the domestic economy continues to remain resilient, with consumer spending growing, the Fed is expected to maintain higher interest rates.

This comes whilst the likes of the European Central Bank and other major institutions prepare for a June cut.

The Bank of Japan will hold a policy meeting later this week to address the weaker Yen.

Nunca se sabe qué tipo de situación presentará el mercado; tu objetivo debe ser encontrar una oportunidad donde la relación riesgo-recompensa sea la mejor.

Jaymin Shah