New Year and a fresh record for the S&P500! The index kicked off the year with a first minute goal after recording 70 closing highs in 2021. Nasdaq rallied 1.20% at the first trading session of the year, as Apple finally hit the $3 trillion valuation and Tesla jumped 13.5% after reporting breath-taking car sales last quarter and last year. Globally, there is a lot of news regarding the rising omicron cases, but there is also a lot of news that the omicron cases are not as deadly as the previous variants of Covid. And investors prefer focusing on a glass half full rather than a glass half empty at the start of the year. In currencies, the US dollar remains in demand, the US dollar index is bid above the 50-dma, which is somewhere near 95.60, and the USDJPY surged to the highest levels since 2017, but the positive trend could soon run out of breath, as suggests the historical data. Bitcoin on the other hand remains stoic faced with a strong risk appetite, and consolidates below its 200-dma. Finally, US crude is pushing higher above its 50-dma before today’s OPEC decision, where no surprise is expected. OPEC countries have rather a positive outlook for oil demand in the coming months as they focus on the recovery and reopening rather than on hundreds of flight cancellations and the restricted economic activity of the moment due to the omicron wave. Watch the full episode to find out more!
Swissquote Bank
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As a leading provider of online financial services, Swissquote offers innovative solutions and analysis tools to meet the wide range of demands and needs of its clients. The user-friendly platform also delivers forex, robo-advisory, leasing and mortgage solutions, as well as various online trading services. In addition to a low-cost service for private clients, Swissquote also offers specialized services for independent asset managers and corporate clients. Swissquote Bank AG is subject to the oversight of the Swiss Financial Market Supervisory Authority (FINMA), holds a banking license from the same authority, and is a member of the Swiss Bankers Association. The parent company, Swissquote Group Holding AG, is listed on SIX Swiss Exchange (symbol:SQN).