While XP is on a 3 day uptrend Yesterday's session put the brakes on the ongoing uptrend — without a clear direction, XP closed at $17.51 while ranging between $17.37 and $17.85.
United States Non Farm Payrolls is next.
XP's state is reflected by market data as United States ISM Manufacturing PMI (Nov) came out at 49, while a consensus of analysts was expecting 49.8. United States Core PCE Price Index (MoM) (Oct) released yesterday at 13:30 UTC with a figure of 0.2, while the previous figure was 0.5. United States Initial Jobless Claims improved upon its previous reading of 241,000 with a new data release of 225,000.
Technical chart analysis shows XP Inc. is approaching key support, around 71 cents away from $16.8. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Meanwhile, mixed performances were seen by other financials stocks as S&P Global was up 2.77%. Bank of America went down 2.87%, closed at $37.63.
Data to be released today might clear up some of the market fog as United States Non Farm Payrolls projected to come out at 200,000 — worse than previous data of 261,000; data will be released today at 13:30 UTC. United States Unemployment Rate figure is projected at 3.7. It previously stood at 3.7; data will be released today at 13:30 UTC.
The Brazilian wealth manager has recovered 9.51% since descending to a significant low of $16 around 4 days ago.