Wall Street opens higher on positive risk sentiment

Easing concerns over a global slowdown help market sentiment improve.
US President Trump reportedly doesn't want to make a limited deal with China.
All 11-major sectors of the S&P 500 are in the positive territory in early trade.

Eren Sengezer FXStreet

Major equity indexes in the United States started the last day of the week in the positive territory supported by positive market sentiment. As of writing, the Dow Jones Industrial Average was up 0.2% on the day while the S&P 500 and the Nasdaq Composite were both adding 0.25%.

Earlier today, China's central bank announced that it cut the loan rate for the second month to provide an additional boost to the economy and helped concerns over a global economic slowdown.

Moreover, citing a source familiar with the matter, Bloomberg reported that US President Donald Trump was not looking to make a limited trade deal with China to allow risk-off flows to take control of markets.

Among the 11-major S&P 500 sectors, which are all rising in the early trade, the Healthcare index is up 0.88% to lead the gains.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

Gold gathers fresh steam, challenging daily highs en route to the $5,100 mark per troy ounce in the latter part of Monday’s session. The precious metal finds support from fresh signs of continued buying by the PBoC, while expectations that the Fed could lean more dovish also collaborate with the uptick.

XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.