All Articles Tagged - US100cash

Daily Market Comment – Oil laughs at strategic reserves release

Posted on November 24, 2021 at 9:44 am GMT

Oil jumps after US releases reserves, signaling it’s not enough Dollar relatively stable ahead of US data and Fed minutes Stocks mixed, RBNZ disappoints, Turkish lira implodes Oil unscathed After weeks of speculation, the United States announced that it will release 32 million barrels of crude oil from its strategic reserves to counter the supply deficit in energy markets and cool prices. Several other nations have joined this effort, but their combined contributions will amount to less than what America [..]

Daily Market Comment – Powell renomination turbocharges dollar, sinks gold

Posted on November 23, 2021 at 9:29 am GMT

Dollar charges higher as Fed chief Powell gets a second term Stock markets pull back from record peaks, gold cracks European PMIs pause euro’s slide, RBNZ rate decision next Powell gives dollar more fuel The White House announced yesterday that Jerome Powell will get a second term as Fed Chair, while Lael Brainard will be promoted to Vice Chair. Even though the decision was as expected, the news still caught markets by storm, propelling the dollar higher as traders doubled [..]

Technical Analysis – US 100 index flirting with record highs again

Posted on November 17, 2021 at 8:23 am GMT

The US 100 cash index came back swinging after the retreat in September, powering higher to reach a new record of 16,457 last week. The picture remains bright overall, with the market trading above all its moving averages (MAs) and an uptrend line drawn from the lows of September 2020. Short-term oscillators are transmitting mixed messages. The MACD looks ready to cross above its red trigger line, which would be an encouraging signal. However, the RSI is testing its overbought [..]

Daily Market Comment – Dollar storms higher as hot inflation reignites Fed bets

Posted on November 11, 2021 at 9:49 am GMT

US inflation comes in hot, pouring fuel on Fed rate hike expectations Dollar hits new highs for the year against euro and sterling Stock market feels the heat, gold turns into an inflation hedge Markets reprice Fed Another shocking acceleration in US inflation unleashed havoc across global markets yesterday. The annual CPI rate clocked in at 6.2%, overcoming even the most aggressive forecasts. It was the usual suspects such as energy prices and used cars driving inflation higher again, although [..]

US Open Note – Nonfarm payrolls don’t impress dollar; Canadian jobs data mixed

Posted on November 5, 2021 at 2:41 pm GMT

Central banks keep faith in transitory inflation Central banks showed sympathy to people’s fears of high inflation the past two weeks but clearly rejected the strong rate hike pricing in markets for the next year, clarifying that they will remain faithful to their initial assessment of temporary inflation, and hence, keep borrowing costs steady, even if the transitory phase lasts a bit longer. Investors did not completely digest the recent dovish talk on interest rates and perhaps higher rates will [..]

US Open Note – BoE rate surprise squeezes pound to monthly lows; oil rallies ahead of OPEC

Posted on November 4, 2021 at 2:40 pm GMT

BoE: Barking without bite Investors have been running ahead of central banks’ plans lately, growing confident that interest rates would rise earlier than previously anticipated as global inflation shows no signs of abating. In the UK though, the strong market pricing for a 15 bps rate hike had been somewhat reasonable. Policymakers, including Governor Andrew Bailey, had been constantly calling for a tighter monetary policy after showing willingness to raise interest rates before the bond tapering phase starts, citing the [..]

US Open Note – Stocks mark a rosy start to the month; FX markets in quiet trading

Posted on November 1, 2021 at 2:59 pm GMT

New record highs for stocks Looking solely at stock markets, one could get the impression that nothing goes wrong, and the remaining pandemic constraints are just a tentative phenomenon, which still allows economies to run up and grow. Of course, some key stocks such as Facebook and Amazon could not jump back into uncharted waters following their earnings releases last week, though overall, guidance from businesses has surprisingly signaled little concern about their future performance. As a result, the pan-European [..]

Global stocks advance; gold accelerates ahead of Powell’s speech – US Open Note

Posted on October 22, 2021 at 1:21 pm GMT

Evergrande’s default delayed While everyone was convinced that the endgame for Evergrande was a certainty, China’s indebted property giant made a last-minute $84mln interest payment overnight, avoiding an official default ahead of its 30-day deadline expiring this weekend. The news brought some risk-on back into play on Friday, propping stock markets and underpinning commodity-dependent currencies such as the aussie and the kiwi, though whether the company can only delay an imminent default remains to be seen. For the time being, [..]

Technical Analysis – US 100 index re-tests major broken trendline

Posted on October 21, 2021 at 3:59 pm GMT

The US 100 stock index (cash) is at a critical situation as the bulls are currently looking to correct the break below the long-term ascending trendline, which caused the aggressive downfall to a three-month low of 14,382 at the end of September. In other words, the index is at a make-or-break point around 15,500. A decisive step above that bar may drive the price up to the 15,708 record high, where any violation would probably clear the way towards the 16,000 [..]

US Open Note – Growth concerns bring risk-off into play; dollar’s slide halts

Posted on October 21, 2021 at 1:40 pm GMT

Stocks falter as risk-off returns Better-than-expected corporate earnings have been a boon to stock markets this month, with Southwest and American airlines flagging today that even the hardest-hit industries by the pandemic can still stand on their feet despite the energy crisis. Nevertheless, below the surface global economic warnings are still flashing red. The pandemic’s nasty supply shocks will probably keep fueling global inflation pressures for longer and businesses such as Unilever, will not hesitate to transfer costs onto consumers [..]

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