All Articles Tagged - US100cash

Daily Market Comment – Powell wakes up dollar bulls, Ueda hurts the wounded yen

Posted on June 29, 2023 at 8:21 am GMT

Dollar gains as Powell hints at more than one additional hike BoJ’s Ueda says there is “distance to go” before shifting policy S&P 500 and Dow Jones slide on Powell’s comments Powell sounds hawkish enough to encourage dollar buying At a panel discussion between the heads of the ECB, Fed, BoE and BoJ, ECB President Lagarde cemented expectations for a July hike, but what caught investors’ attention were hawkish comments by Fed Chair Powell. This time, the Fed Chief sounded [..]

Daily Market Comment – Euro rebounds on hawkish ECB rhetoric, yen extends slide

Posted on June 28, 2023 at 8:11 am GMT

Euro rebounds as ECB officials appear in hawkish suits Yen extends slide, despite new intervention warnings Loonie and aussie slide on lower-than-expected CPI data Wall Street gains on upbeat US data ECB hawkish rhetoric boosts the euro The US dollar traded lower against most of the other major currencies on Tuesday, losing the most ground against the euro and gaining only against the Japanese yen and the Canadian dollar. The euro rebounded strongly after ECB policymakers appeared at the central [..]

Technical Analysis – US 100 index forms bearish channel

Posted on June 27, 2023 at 1:42 pm GMT

The US 100 stock index (cash) rotated southwards after touching the crucial 15,280 zone, where it peaked in February and March 2022 before it changed direction to the downside. Getting rejected for the third time around that same region, the index might be exposed to another stormy session ahead. The price is currently trading at the lower boundary of the short-term descending channel in the four-hour chart, suggesting a potential upside move before the bearish wave continues. For that to happen, the [..]

Daily Market Comment – Yen takes another knock, tech rally cools off

Posted on June 27, 2023 at 8:27 am GMT

Yen gets hit by another selling wave, retests its multi-year lows Dollar slightly softer ahead of US releases, euro capitalizes Tech stocks encounter some profit-taking, ECB forum begins Japanese yen can’t catch a break It was a relatively quiet trading session in the FX complex on Monday. Investors appeared reluctant to make any big moves with geopolitical tensions simmering, preferring to bide their time until the dust around Russia’s coup attempt settles. Defensive assets such as gold and bonds attracted [..]

Is this the time for sizable correction in stock markets? – Stock Market News

Posted on June 22, 2023 at 1:44 pm GMT

US stock indices have staged a powerful rally since October 2022, which is mainly driven by a few tech giants that are anticipated to realise significant gains from the boom in artificial intelligence (AI). However, the market has reached a stage where valuations are overstretched, liquidly is drying up, earnings are stagnating, and the Fed shows no signs of backing off from its aggressive stance. Could this be the beginning of a correction? Stellar performance but limited upside left The [..]

Daily Market Comment – Powell does not convince dollar bulls, BoE enters the spotlight

Posted on June 22, 2023 at 8:27 am GMT

Powell signals more hikes but fails to convince dollar bulls BoE meets with investors split between a 25 and 50bps hike Wall Street pulls back, Bitcoin extends rally Dollar slides as Powell again fails to convince investors The dollar ended Wednesday lower against most of the other currencies, despite Fed Chair Powell delivering a relatively hawkish message when testifying before the House Financial Services Committee of the US Congress. The Fed Chief said that rate increases are “a pretty good guess” of [..]

Daily Market Comment – Dollar awaits Powell, UK CPI data adds extra pressure on BoE

Posted on June 21, 2023 at 8:15 am GMT

Dollar gains as housing starts surge Focus turns to Fed Chair Powell’s testimony UK CPIs increase chances for a 50bps hike by the BoE Wall Street slides as Powell’s testimony looms Powell gets a second chance to convince the market The US dollar gained ground against most of the other major currencies on Tuesday, losing only against the Japanese yen. Although the moves were somewhat reversed during the Asian session today, yesterday’s action suggests a risk-off trading activity, ahead of [..]

Technical Analysis – US 100 cash index rally halts at key level

Posted on June 20, 2023 at 7:44 am GMT

The US 100 index is edging slightly lower after recording another 2023 high. The index stands around 30% higher than the March 13, 2023 low, with the move since the April consolidation being almost exponential. The bears are again trying to record a small pullback. Their last two attempts to stage a correction, in May 22 and June 6 respectively, proved unsuccessful as the bulls used this price action to take a breather before pushing the US 100 index even [..]

Daily Market Comment – Dollar falls on soft data, euro rallies after ECB

Posted on June 16, 2023 at 8:20 am GMT

Investors defy Fed, expecting rates to peak soon ECB appears hawkish, lifts the euro BoJ maintains loose policy, hurts the yen Wall Street rallies on hopes Fed hiking cycle is ending Dollar slides as traders believe rate peak is near The US dollar traded lower against all but one of the other major currencies on Thursday, with the aussie and the euro taking the lead. The only currency against which the greenback gained some ground was the yen. Despite the [..]

Daily Market Comment – Inflation data pushes dollar lower ahead of Fed decision

Posted on June 14, 2023 at 7:56 am GMT

Dollar slides as CPI numbers increase Fed skip chances Fed decides today, spotlight to fall on dot plot Wall Street extends rally after soft inflation prints US CPI data enhance the case for a Fed skip The dollar traded lower yesterday after data showed that US consumer prices barely rose in May, taking the headline year-on-year rate down to 4.0% from 4.9%. That was the smallest increase in more than two years, adding to the view that the Fed is [..]

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