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27.05.202110:26 Forex Analysis & Reviews: Overview of the US market (05/27/2021)

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US indices showed little growth yesterday. Dow Jones rose 0.1%, while S&P 500 and Nasdaq climbed 0.2% and 0.6%, respectively.

Nevertheless, the market is in a narrow range and is close to the yearly highs. Technically, this suggests that new levels might be reached, depending on the gist of the upcoming economic reports.

With regards to the world's epidemiological situation, total incidence jumped again to 560,000. India saw a slight increase in cases to 211,000, while France climbed to 12,000. Meanwhile, Brazil recorded 70,000, while the US listed 23,000.

Forecasts:

The S&P 500 is currently at 4.195 points. It is expected to close around 4.150 - 4.230 points;

The USD index is at 90.05. It is projected to hit 89.70 - 90.50 today.

USD/CAD currently costs 1.2120. It is predicted to trade between 1.2080 to 1.2180 today.

Obviously, investors are waiting for the reports on US employment and GDP, which will be released today at 12:30 GMT.

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