All Articles Tagged - US30

US Open Note – Dollar pushes up after strong NFP report

Posted on March 5, 2021 at 2:03 pm GMT

NFP report drives dollar even higher It’s NFP day and markets just got an update on the speed and direction of the country’s labor-market recovery. The US economy added 379k jobs compared to market expectation of a 182k rise and 49k before, while the unemployment rate fell to 6.2% from 6.3% in the preceding month, amid easing business restrictions, falling coronavirus infection rates, a fast vaccine rollout and continued support from the government. Markets are still focusing on the imminent $1.9trln of stimulus package and an ultra-dovish Fed. The spike [..]

Daily Market Comment – Yen and franc dive but stocks unable to sustain Powell bounce

Posted on February 24, 2021 at 10:28 am GMT

Safe-havens yen and franc plunge again as Powell boosts recovery hopes US stocks pull back from sharp dip but elevated yields continue to weigh Pound catapults to fresh highs; aussie, kiwi and loonie soar too Powell reassurance sends safe havens skidding Growing optimism about a vaccine-led recovery continued to reverberate through currency markets on Wednesday, steering riskier pairs to fresh highs, while pummelling traditional safe havens such as the yen and Swiss franc. The latest wave of positive outburst comes [..]

Daily Market Comment – Fed minutes take pressure off soaring yields but stocks slip

Posted on February 18, 2021 at 9:30 am GMT

US yields pull back as Fed says it will take “some time” to achieve its goals Stocks mostly down but Dow Jones rises amid rotation out of tech shares Dollar holds onto gains after huge jump in US retail sales Fed minutes restore some calm in bond markets Treasury yields fell back from one-year highs on Thursday as worries about higher inflation and Fed tightening subsided somewhat. The Federal Reserve played down the growing threat of inflation making a comeback [..]

Technical Analysis – US 30 index consolidates around all-time high

Posted on February 11, 2021 at 3:46 pm GMT

The US 30 stock index (Cash) has stalled around its all-time high of 31,543 after its latest impressive rally from the 29,659 trough. The flattening Ichimoku lines are reflecting the stalling in the ascent, while the soaring 50-period simple moving average (SMA) and its recent bullish crossovers of the climbing 100- and 200-period SMAs is promoting additional price gains into uncharted waters. The short-term oscillators are reflecting mixed signals in directional momentum. The MACD, in the positive region, is weakening [..]

Daily Market Comment – Dollar gains more ground on stimulus hopes but stocks softer

Posted on February 4, 2021 at 9:56 am GMT

Dollar at fresh 2-month high as US yields rise further on stimulus expectations But Wall Street turns more cautious, Asian stocks wobble on Chinese liquidity worries Pound skids ahead of Bank of England decision, euro can’t catch a break Dollar strengthens further on rosy US outlook Rising optimism about the US economic outlook lifted the greenback to a fresh 2-month top on Thursday as investors bet that the American economy will outperform on the back of the Biden administration’s pledge [..]

Technical Analysis – US 30 index’s pullback contested by 38.2% Fibonacci

Posted on January 28, 2021 at 3:23 pm GMT

The US 30 stock index (Cash) has found footing on the 30,047 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 26,065 until 31,284, after receding from its latest all-time high of 31,284. Yesterday’s losses saw the index pierce below the 50-day simple moving average (SMA), last encountered in early November of last year, to only recoup most of them today with a bounce off the 23.6% Fibo. The rising SMAs are protecting the positive [..]

Daily Market Comment – Stocks retreat, dollar edges up as virus concerns creep in again

Posted on January 22, 2021 at 10:11 am GMT

Equity rally loses steam after strong weekly gains amid renewed virus jitters Talk of Biden tax increases also undermines risk appetite, lifting the dollar Poor data pull down pound and aussie but euro fares better after ECB stays put Virus outbreaks, recession fears cap risk rally The stimulus-led stock market rally faltered on Friday as investors paused for breath after sharp gains in a week when US President Joe Biden formally took office, reaffirming expectations of higher spending and borrowing [..]

Daily Market Comment – Wall Street at fresh record as Biden sworn in; euro up ahead of ECB

Posted on January 21, 2021 at 10:10 am GMT

Hopes of more stimulus and relief over Biden’s peaceful transition lift sentiment US stocks close at new record highs as strong earnings add extra fuel Dollar skids again, euro bounces off lows ahead of ECB decision Optimism high as Biden enters White House After four tumultuous years, Trump’s presidency came to a historic end on Wednesday, as Joe Biden marked his first day at the White House by spreading a message of hope and unity to a fractious nation. While [..]

Technical Analysis – US 30 index creeps to new all-time highs; positive momentum sluggish

Posted on December 18, 2020 at 1:28 pm GMT

The US 30 stock index (Cash) has logged a fresh all-time high of 30,345 as it continues to hold above the simple moving averages (SMAs), crawling gradually higher. The 200-period SMA is backing the positive structure, while the casual hike in the 50- and 100-period SMAs is maintaining the slow upwards pace in the index. Further backing this view is the relaxed incline in the Ichimoku lines. The short-term oscillators are reflecting weak momentum but lean towards the upside. The [..]

Daily Market Comment – Dollar whipsaws on Fed’s dovish guidance, upbeat forecasts

Posted on December 17, 2020 at 9:56 am GMT

Fed commits to current pace of QE until it sees “substantial further progress” Dollar jumps on modest tweak, rosy outlook before being pummelled by dovish Powell Pound continues to soar on Brexit deal optimism, euro climbs new highs too Aussie and kiwi on a roll as strong data, US stimulus hopes maintain bullish momentum Fed disappoints before Powell has to reassure The Federal Reserve pledged on Wednesday to keep buying bonds at the existing pace of $120 billion per month [..]

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