All Articles Tagged - US30

US Open Note – Stocks improve, dollar on back foot as yields dip again

Posted on May 25, 2021 at 1:49 pm GMT

Stocks creep up as dollar heads toward 5-month lows; Fed echoes no alarm Markets seem to be emanating a slight improvement in risk sentiment as major US indices are extending yesterday’s rally at a somewhat slower pace. The fresh dip in the US 10-year yield, currently at 1.58%, is not providing any assistance for the dollar to regain some of its market dominance. As rates are not going anywhere soon as the inflation narrative continues to be downplayed, the dollar [..]

Daily Market Comment – Stocks climb, yields slide as Fed sticks to transitory narrative

Posted on May 25, 2021 at 9:21 am GMT

Bond yields drop again, growth stocks rally after Fed soothes inflation fears China’s crackdown on commodity speculators also eases inflation worries Dollar slumps to near 5-month low, euro surges above $1.2250 Fed relaxed on inflation risks, markets like it Fed speakers came out in droves on Monday to reinforce the central bank’s position on the flare-up in inflation that’s driven markets into speculation overdrive about the timing of when all the stimulus will be withdrawn. Rising concerns that a lot [..]

Daily Market Comment – Inflation uncertainty makes for cautious start to week

Posted on May 24, 2021 at 9:28 am GMT

Dollar and stocks firmer, look to Fed speakers and data for momentum, inflation clues Euro softer after Lagarde comments, pound slips too Metal prices fall again after China warning, aussie struggles Inflation vs recovery theme Lingering fears of an upsurge in inflation weighed on sentiment at the start of this week’s trading amid a somewhat quieter day with several European markets closed for a public holiday. The clashing themes of the growing inflation threat and the strengthening global recovery have [..]

Technical Analysis – US 30 index capped by 200-MA; downside risks persevere

Posted on May 20, 2021 at 2:41 pm GMT

The US 30 stock index (Cash) is struggling to return above the 200-period simple moving average (SMA) after the strong downward correction off of its all-time high of 35,091. The diving 50-period SMA and its freshly completed bearish crossover of the hovering 100-period SMA is signalling that the index’s positive sentiment is currently lacking. The dwindling slopes of the 100- and 200-period SMAs are promoting a price consolidation phase. Nonetheless, the technical indicators are currently favouring a short-term neutral-to-bearish demeanour [..]

US Open Note – Stocks pick up, dollar hurt and gold retains bullish tone

Posted on May 18, 2021 at 1:15 pm GMT

Stocks recoup yesterday’s lost ground as dollar loses dominance US major indices are largely holding around yesterday’s highs after having reclaimed surrendered ground, emanating a slight pickup in risk appetite. That said the damage in the greenback is being felt across the board. The dollar index plunged below the 90.0 mark and has managed to stabilize around 89.70. The Fed’s dovish stance seems to be weighing on the greenback and sentiment appears to be subdued. Steady yields are not discouraging [..]

US Open Note – US retail sales disappoint with minor impact on greenback

Posted on May 14, 2021 at 12:57 pm GMT

US retail sales dive below expectations The highlight of the day is the US retail sales, which were flat month-on-month in April, worse than the 1% increase that was expected versus an upwardly revised 10.7% surge in March. The US dollar index is retreating for the second consecutive day with weak momentum and unable to surpass the 91.00 mark. Dollar/yen is trading soft but above the 109.00 psychological level. The dollar could gain on a rise in US yields, while the slow recovery in the employment market may turn consumption [..]

US Open Note – Dollar rally stalls despite strong jobless claims and PPI

Posted on May 13, 2021 at 1:10 pm GMT

Jobless claims fall again but dollar slips The producer price index and initial jobless claims out of the United States are in the spotlight today after last week’s disappointing jobs report and the surprise jump in inflation yesterday. US initial jobless claims declined to 473 thousand in the week ended May 7 versus 490K forecast after Wednesday’s inflation shock and the Federal Reserve was clear that the employment outlook will have to notably rise before there is a change in monetary policy. Annual inflation climbed to the [..]

US Open Note – Stocks stabilize with US inflation uncertainty, dollar flickers green

Posted on May 12, 2021 at 1:28 pm GMT

Market retraction pauses; US CPI shocks markets but effects fade Investors have been patiently awaiting hints from US inflation today on whether the stride of the recovery has somewhat slowed. The risk-off climate is not receiving any assistance from yields and it seems profit taking and inflation could be the premise for the latest risk-off environment. The pullback of the highs in the major US indices continues to denote the deterioration in near-term risk sentiment despite the release of [..]

US Open Note – Stocks slip and yields muted; dollar takes back seat as inflation fears remain

Posted on May 11, 2021 at 1:27 pm GMT

Stocks in the red and dollar’s might curbed as yields steady The major US indices have pulled back from their highs with the Nasdaq 100 slipping 2.63% and the Dow Jones falling the least. It seems some aftereffects from the freshly inflicted wound of the disappointing NFP payrolls for April may be curbing dollar strength, but subdued yields are also playing their part. The dollar index is flirting with the 90.00 mark after the greenback surrendered to bearish forces. Moreover, [..]

US Open Note – Dollar steadies; pound skyrockets after elections

Posted on May 10, 2021 at 12:29 pm GMT

US steadier after slump from soft NFP report Today is a quiet day, with the US dollar moving slightly higher after the poor US jobs reports on Friday, which indicated that the Fed will have to keep accommodative policy for longer. The greenback is likely to remain soft until there is a notable turnaround in US yields. The US dollar index is hovering slightly above the 90.10 barrier, having on Friday created the sharpest decline in five months. Euro/dollar is looking neutral after it reached a new ten-week high of 1.2176 and gold is developing around three-month [..]

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