All Articles Tagged - US30

US Open Note – Stocks recoup lost ground, dollar retreats, gold steadies and oil climbs

Posted on May 5, 2021 at 2:27 pm GMT

Stocks recover and dollar bounces back As a slight return in risk assets seeps into markets and major US indices regain their buoyancy, the forex environment seems to be subdued. The Nasdaq is reclaiming yesterdays’ lost ground but at a slower pace than the S&P 500, while the Dow Jones is holding back at its all-time highs. The blow to markets footing was apparent in the US indices’ Tuesday tumble, corresponding to US Treasury Secretary Yellen’s erroneous choice of words [..]

Daily Market Comment – Dollar set for big monthly losses, stocks struggle for direction again

Posted on April 30, 2021 at 8:56 am GMT

Dollar steadier but month-long rout probably not over yet, yen firmer too S&P 500 closes at another record high but stocks slip today amid some jitters Copper soars past $10,000 a tonne, oil moderates after boost from upbeat US GDP Don’t fight the dovish Fed The US dollar is on track for its worst 4-week run since last July and looks set to end the month with losses of at least 2.5%. An uptick in the growth outlook for some [..]

US Open Note –Stocks strong around highs, yields receive boost, dollar on back foot

Posted on April 29, 2021 at 1:44 pm GMT

Stocks optimistic as yields rise, risk remains somewhat subdued, GDP data key Stocks maintain an upbeat tone with the S&P 500 index winning the race, currently at the 4,214 level. The dollar index has surrendered its latest gains to today’s high of 90.67, pulling slightly lower to 90.53. The stumble in the greenback has strengthened the euro to $1.2133 assisted by a slur of positive Eurozone data, which is outperforming the relatively subdued sterling at $1.3944. The Fed has somewhat [..]

US Open Note – Fed decision in spotlight; dollar rises near 109 yen

Posted on April 28, 2021 at 1:11 pm GMT

FOMC meeting in focus; dollar heads higher The major highlight of the day is the Federal Reserve’s policy announcement at 18:00 GMT. Policymakers will likely recognize the fast economic recovery from the pandemic as the progressing vaccination program brightens the outlook for the economy. Despite that, the central bank is expected to keep interest rates steady within the target range of 0-0.25% and its monthly bond purchases stable at $120 billion. Following the Bank of Canada’s bond tapering announcement, investors will be eaerly waiting to hear whether the Fed is also planning [..]

Daily Market Comment – Yields jump ahead of Fed decision; Biden also in the spotlight

Posted on April 28, 2021 at 9:11 am GMT

Treasury yields creep up again on rising inflation expectations but Fed to stay the course Biden to seek Congressional support for big spending in joint address Dollar recoups further lost ground but dovish Powell could torpedo it Equities modestly higher as soaring earnings fail to set Wall Street alight Fed meets amid fresh warning signs in bond markets Treasury yields headed higher and the US dollar recovered further from multi-week lows ahead of what may not turn out to be [..]

US Open Note – Market in calm tone ahead of earnings and FOMC

Posted on April 27, 2021 at 12:57 pm GMT

Dollar and euro tick up The greenback is regaining some ground versus the Japanese yen, holding around 108.40 ahead of the Federal Reserve policy decision tomorrow, no changes are expected in policy settings. The dollar index is still moving with weak momentum near 91.00 and below the 50-day simple moving average (SMA). Jerome Powell will give hints on whether improving economic conditions justify a tapering of monetary easing. Euro/dollar is flattening, remaining below the two-month high at 1.2116 and pound/dollar is surpassing the 1.3900 number. In commodity [..]

US Open Note – Dollar rebounds off new lows ahead of busy week

Posted on April 26, 2021 at 1:18 pm GMT

Dollar remains under pressure; big earnings are coming up The key event of the week is the FOMC meeting on Wednesday and a packed earnings schedule, starting with Tesla after the US market close. As US yields are still depressed, the US dollar index is drifting below the 91.00 crucial level, while dollar/yen is moving horizontally around the 108.00 round number after the pullback off the 13-month peak of 110.95. If there is a turnaround in US yields then there is an expectation of the dollar to regain some ground. US Durable [..]

Technical Analysis – US 30 index consolidates around its highs; retains bullish tone

Posted on April 23, 2021 at 1:28 pm GMT

The US 30 stock index (Cash) seems caught within a minor ranging market after retreating slightly below its all-time high of 34,251. The simple moving averages (SMAs) are shielding the broader bullish bias; however, the flattening Ichimoku lines are reflecting the evaporation of directional momentum. The short-term oscillators are transmitting conflicting signals in sentiment but are slightly skewed to the downside. The MACD is below its red trigger line and is heading lower in bearish territory, while the sustained negative [..]

US Open Note – Stocks in the red, dollar barely heals, oil surrenders gains

Posted on April 20, 2021 at 1:31 pm GMT

Dollar nudges a tad higher with rising yields, major forex pairs capitalise Major stock markets eased off their recent highs while the dollar index managed to gather some footing around 90.82, prodding just above the 91.00 mark. The recovery narrative, with stimulus in the pipeline and rising yields – 10-year Treasuries advanced to 1.62% – seems to be very much alive, even though the Fed’s insistence that it won’t raise rates prematurely has cooled the dollar lately. Markets’ subdued demeanour [..]

Technical Analysis – US 30 index maintains relentless ascent and breaches 34,000 hurdle

Posted on April 16, 2021 at 1:02 pm GMT

The US 30 stock index (Cash) seems to guarantee that the stable hike, which has overstepped the 34,000 mark, is here to stay. The unwavering simple moving averages (SMAs) are firmly defending the positive structure, while the rising Ichimoku lines and the short-term oscillators are echoing an absence of gravity in the current picture. The MACD, in the bullish region, is persisting above the fairly stabilised red trigger line, while the RSI is improving in overbought territory. Furthermore, the stochastic [..]

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