HOME
PREMIUM
Tesla car

DAX, XLE and Tesla Eye Upside as Markets Brace for NFP

By: 
Christopher Lewis

DAX, XLE and Tesla forecasts turn bullish as traders await NFP, with key breakout levels, Treasury yields and Middle East supply risks in focus.

US 10 Year Yield Technical Analysis

Daily candlestick chart for the US 10-Year Treasury Yield showing yield at 4.776%, the 50-day EMA at 4.640%, and the 200-day EMA at 4.435%.
Daily chart for the US 10-Year Treasury Yield showing yield at 4.776%, holding above the 50 EMA (4.640%) and 200 EMA (4.435%). Source: TradingView

The US 10-year yield is a little bit lower during trading here on Thursday, but still has plenty of support, and therefore I think you have to look at this as a market that is still going to see elevated rates. We have the nonfarm payroll announcement coming out tomorrow on Friday, and that could be a major mover of markets as well due to interest rate expectations, and therefore could be a little hesitant here on Thursday.