All Articles Tagged - US100cash

Market Comment – Dollar traders turn cautious ahead of Jackson Hole; PBOC bolsters yuan

Posted on August 22, 2023 at 8:02 am GMT

Dollar pulls back on cautious trading ahead of Jackson Hole 10-year Treasury yields extend rally to levels last seen in 2007 China’s central bank sets yuan mid-point higher than expected Nvidia lifts both Nasdaq and S&P 500 ahead of its earnings Dollar slides but yields keep surging; Jackson Hole awaited The US dollar traded lower against most of the other major currencies on Monday and remained on the back foot today. With no major catalyst behind the dollar’s setback, it [..]

What’s behind the latest pullback in equity markets? – Stock Markets

Posted on August 17, 2023 at 2:31 pm GMT

The S&P 500 and Nasdaq 100 equity indices are on track to post their third consecutive red candlestick on the weekly chart for the first time since February 2023 and December 2022, respectively. After a relentless year-to-date rally, fund managers seem to be starting to lock some profits or rebalance their portfolios amid the ongoing risk of overtightening as the US economy continues to exhibit remarkable resilience. However, there is a plethora of additional risks that investors should have in [..]

Technical Analysis – US 100 cash index bears appear to be thirsty still

Posted on August 14, 2023 at 11:50 am GMT

The US 100 index is edging higher but the bearish pressure following the July 19, 2023 peak of 15,931 remains potent. It looks like the bears are determined to register the first sizeable pullback since the March 2023 events, in a desperate attempt to recoup part of their significant recent losses. Obviously, the momentum indicators have taken notice of this bearish reaction. The Average Directional Movement Index (ADX) has broken above its 25-threshold, thus signalling a muted bearish trend in the market, [..]

Technical Analysis – US 100 stock index takes a negative angle

Posted on August 11, 2023 at 12:43 pm GMT

The US 100 stock index (cash) is marking its second negative week, edging slightly below its 50-day simple moving average (SMA), which switched from support to a resistance area at 15,180. The bearish evening star candlestick pattern at the top of the uptrend makes the short-term picture look ugly, warning that the bearish wave might have just started. On the other hand, the stochastic oscillator raises optimism that the bears could soon take a breather as the indicator hovers around its [..]

What does the US credit downgrade mean for markets? – Special Report

Posted on August 3, 2023 at 8:11 am GMT

The United States government’s credit rating has been downgraded by Fitch, citing concerns about runaway deficits and rising debt burdens. Riskier assets like stocks fell on the news, while the US dollar traded higher amid a flight to safety. Is this downgrade a game-changer for global markets? Downgrade Credit ratings agency Fitch just downgraded the quality of US government debt, from the top tier of AAA down one notch to AA+. The firm justified its decision by pointing to rising [..]

Market Comment – Dollar extends gains, BoE enters the limelight

Posted on August 3, 2023 at 7:54 am GMT

Dollar strengthens on ADP and US debt downgrade ISM non-mfg. PMI the next test for dollar traders BoE expected to hike by 25bps; Will it sound hawkish? Wall Street slumps after US rating cut Dollar wears its safe-haven suit The US dollar continued gaining ground on Wednesday and it appears to be holding firm today as well. The greenback has been slowly gaining ground since the beginning of the day on Wednesday, perhaps due to safe-haven inflows after the unexpected [..]

Market Comment – Dollar gains after ISM manufacturing data

Posted on August 2, 2023 at 8:11 am GMT

Dollar gains as ISM mfg. new orders beat estimates Pound traders await Thursday’s BoE decision Aussie the main loser after RBA stands pat S&P 500 and Nasdaq close in the red, oil hits new three-month high Improving manufacturing outlook helps the dollar The US dollar traded higher against all the other major currencies on Tuesday, but today it seems to be stabilizing, properly extending winnings only against the risk-linked currencies, the aussie, kiwi and loonie. What may have allowed traders [..]

Technical Analysis – US 100 index safeguards 2023 upleg

Posted on August 1, 2023 at 1:24 pm GMT

The US 100 stock index (cash) rotated higher around its 20-day simple moving average (SMA) at 15,450 last Friday and above June’s high of 15,280, retaining confidence in its 2023 uptrend. Although the bearish doji at the top of the uptrend remains worrisome, the latest upturn keeps the focus on July’s 1½-year high of 15,896. The bulls could even attempt to mark a new higher high near the resistance line from February at 16,140 if the 20-day SMA at 15,460 holds firm. Running [..]

Daily Market Comment – Dollar slides on Fed, ECB and BoJ enter the limelight

Posted on July 27, 2023 at 7:57 am GMT

Fed Chair Powell appears less hawkish than expected Dollar slides as investors add to their rate cut bets ECB to hike, focus on Lagarde’s remarks BoJ tweak cannot be ruled out Powell disappoints dollar bulls The US dollar traded lower against the majority of the other major currencies on Wednesday and continued sliding during the Asian session today. Responsible for the dollar’s wounds was Fed Chair Powell, who at the press conference following yesterday’s decision, did not appear hawkish enough [..]

Daily Market Comment – Investors lock gaze on Fed decision

Posted on July 26, 2023 at 7:50 am GMT

Fed expected to hike, spotlight to fall on hints about next moves Euro awaits ECB; aussie slides on inflation slowdown Wall Street gains, awaits Fed and more tech earnings Will the Fed hint at more hikes? The US dollar traded lower against most of the other currencies on Tuesday, but it seems to be stabilizing today as investors may have turned to a more cautious trading strategy ahead of the FOMC decision later today. A 25bps hike is a done [..]

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