All Articles Tagged - US30

Daily Comment – Dollar edges up ahead of PCE inflation as stocks drift

Posted on August 30, 2024 at 9:10 am GMT

All eyes on US core PCE and consumption as bets for 50-bps cut stall Dollar headed for weekly gains but Nasdaq has disappointing week Euro on the backfoot as soft Eurozone CPI cements September cut Big Tech woes weigh on Wall Street The US dollar looks set to pare its monthly losses as it heads for its first weekly gain since mid-July amid more evidence that the US economy is humming along nicely. The same cannot be said for stocks [..]

Market Comment – US retail sales eyed after CPI report fails to set off fireworks

Posted on August 15, 2024 at 8:45 am GMT

US inflation eases further in July but market reaction is muted Wall Street unimpressed, dollar mixed Yen and pound supported by upbeat GDP data US CPI does little for 50-bps cut hopes The steady recovery in risk appetite remains on track following yesterday’s inflation numbers out of the US that seem to have somewhat underwhelmed investors. Headline CPI eased to 2.9% y/y in July instead of staying unchanged at 3.0% as expected, while core CPI edged down to 3.2% y/y. [..]

Market Comment – Wall Street extends record streak, gold joins in

Posted on July 17, 2024 at 8:15 am GMT

Rate cut and soft landing bets propel US equities to new highs Gold also sets a new record as US yields sink despite Trump risks Pound and kiwi edge up on slight upside surprises in CPI data US stocks brace for soft landing Optimism that the Fed is well placed to engineer a soft landing by cutting rates soon continues to fuel risk appetite on Wall Street, even as equity markets globally struggle against the prospect of Trump 2.0. Worries [..]

Market Comment – Dollar recovers further on Trump boost

Posted on July 16, 2024 at 8:39 am GMT

US dollar extends rebound as US yield curve steepens on Trump bets Dow Jones hits fresh record but global stocks slip on trade war fears Dovish Powell lifts sentiment, retail sales eyed next Dollar catches a bid on Trump trade A steepening US yield curve helped the US dollar to bounce back from last week’s post-CPI lows as growing bets that Donald Trump would get re-elected as President pushed long-dated yields higher while short-term yields fell on firming expectations that [..]

Market Comment – ECB cut awaited as Wall Street sets new record

Posted on June 6, 2024 at 8:58 am GMT

ECB expected to follow in BoC’s footsteps and cut by 25bps Fed rate cut hopes rise despite upbeat ISM services PMI Dollar mostly steady, stocks surge higher ECB set to deliver this week’s second cut The European Central Bank is on course to become the second central bank in the G7 this week to lower borrowing costs after the Bank of Canada paved the way on Wednesday. Easing inflation and sluggish economic growth prompted the BoC to cut its overnight [..]

Market Comment – Rate cut optimism buoys equities, gold jumps on geopolitical risks

Posted on May 20, 2024 at 8:51 am GMT

Stocks remain on the front foot despite wavering rate cut bets Optimism prevails even as gold rallies on Middle East uncertainties Subdued dollar eyes Fed speakers, rising Japanese yields fail to lift yen Stocks extend post-CPI gains Equity markets remained buoyant at the start of the new trading week following last week’s somewhat cooler-than-expected inflation report out of the United States, as the data further extinguished any lingering fears about a possible Fed rate hike. Yet, the latest CPI readings [..]

Technical Analysis – US 30 index edges higher to record peak

Posted on March 14, 2024 at 10:42 am GMT

US 30 index pulls back off rising trend line Stochastics endorse the bullish tendency The US 30 (cash) index is flirting again with the all-time high of 39,284.42 after the bounce off the 38,450 support level, which overlaps with the long-term ascending trend line. According to the technical oscillators, the MACD is trying to cross above its trigger line in the positive territory, while the stochastic is running towards the overbought region after the bullish cross within the %K and [..]

Technical Analysis – US 30 index retreats near the medium-term uptrend line

Posted on February 29, 2024 at 8:40 am GMT

US 30 index still above ascending trend line Technical oscillators confirm the latest bearish move The US 30 (cash) index is easing after it reached a fresh all-time high of 39,284.42 on Friday. Currently the price is testing the medium-term uptrend line for a potential bearish correction but also a rebound is expected. Technically, the MACD is holding beneath its trigger line in the positive territory, while the stochastic oscillator is moving lower after the bearish crossover within its %K [..]

Market Comment – Markets seek direction from US CPI report

Posted on February 13, 2024 at 10:21 am GMT

Wall Street eases from highs as investors on standby for US inflation update Dollar supported as yields crawl higher, yen resumes slide Pound lifted by strong jobs data; Bitcoin soars above $50,000 Risk rally cools ahead of all-important inflation report Equities were mixed on Tuesday while major currency pairs traded within their recent ranges, with some exceptions, ahead of the crucial CPI numbers due out of the United States later in the day. After flirting with record territory again on [..]

Technical Analysis – US 30 index flirts with all-time high

Posted on February 8, 2024 at 10:19 am GMT

US 30 index retains bullish outlook above uptrend line Technical oscillators indicate more gains The US 30 (cash) index is traveling slightly below the all-time high of 38,782 and above the medium-term rising trend line, suggesting a potential move to the upside again. Given the current positive momentum, the question now is whether the index will stay resilient above the 38,108 key region. A clear step below it and beneath the uptrend line as well as the 161.8% Fibonacci extension level of [..]

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