17.05.202112:50 Forex-elemzések és áttekintések: Overview of the US market (05/17/2021)

Growth resumed on the US market last Friday. Dow Jones rose by 1%, while S&P 500 and Nasdaq grew by 1.5% and 2.3%, respectively.

This is good news because for the last three days, US stocks were falling quite sharply. The unexpected jump in US inflation to 4.2% frightened investors, but the Federal Reserve reassured that the surge will be short-lived, and that this is not enough reason for the central bank to tweak its monetary policy. The latest data on retail sales also confirmed the Fed's position.

Meanwhile in Israel, the war unleashed by radical Palestinian groups continued all throughout the weekend. The Gaza side carried on attacking Israel, while Israel retaliated with air strikes, but has not yet invaded the Gaza Strip.

With regards to the world's epidemiological situation, a noticeable decrease in new cases was observed on Sunday. The overall rate was down by approximately 20%. India recorded a slowdown in infection, but several days of monitoring is needed before authorities can confirm if the situation is finally easing.

Going back to the markets, Japan indices dipped by 0.9% this morning, while China indices grew by 1.4%, thanks to the 9.8% jump in industrial production.

Forecasts:

S&P 500 currently values 4.170 points. It will close around 4.130 - 4.210 points today;

The USD index currently values 90.30 points. It should close around 89.80-90.60 points today;