- Global stock market indices remain mixed, with the Dow Jones 30 Index hitting an all-time high while the NASDAQ 100 tech index fell again during Monday’s trading session. Institutional players are seen as likely to remain selling U.S. Treasuries and the Japanese yen.
- WTI Crude Oil hit a near 2.5-year high price yesterday at $67.50 before selling off, as expectations rise of a strong boost to the U.S. economy from the $1.9 trillion coronavirus relief bill.
- In the Forex market, the Japanese yen and the euro are the weakest currencies, while the U.S. dollar clearly has the greatest long-term strength. The dollar looks to be the strongest today on current price action..
- Gold again hit a new 6-month low price on Monday in U.S. dollar terms. The precious metal is exhibiting sustained weakness.
- The USD/JPY currency pair has again advanced to make a new multi-month high, this time above 109.00, with odds in favor of further advances over the coming days.
- The EUR/USD currency pair fell again to make a new 50-day low price below 1.1850. The odds are in favor of further falls over the coming days.
- Bitcoin bulls have finally succeeded in pushing the price above the former key resistance level at $51,837. Short-term price action looks bullish and we may see a new all-time high in Bitcoin today or later this week.
- Global coronavirus deaths have fallen sharply over the past five weeks to reach a level 33% lower than the peak. However, new confirmed cases rose very slightly last week after declining for several weeks.
- Total confirmed new coronavirus cases worldwide stand at over 117.7 million with an average case fatality rate of 2.22%.
- The fastest progression in terms of immunizing a population against the coronavirus in all but the smallest states has been in Israel, which has already administered a first shot of the Pfizer vaccine to 54% of its entire population and a second dose to 42% (which includes more than 88% of over-50s who have either received a shot or recovered from coronavirus). The U.A.E. ranks second, with 22% of its population fully vaccinated. For most of the world, a vaccine remains distant. Progress remains slow in the hard-hit European Union with not a single member state having yet fully vaccinated even 4% of its population. Denmark and Austria have begun exploring ways of boosting their vaccine provision outside E.U. structures.
- The rate of new coronavirus infections appears to now be increasing most quickly in Austria, Bosnia, Brazil, Bulgaria, Chile, Cyprus, Estonia, Ethiopia, Finland, Greece, Hungary, Iran, Iraq, Italy, Jordan, Kenya, Kosovo, Kuwait, Malta, Moldova, Mongolia, North Macedonia, Norway, Oman, Pakistan, Paraguay, Philippines, Poland, Romania, Serbia, Sweden, Ukraine, and Uruguay.