All Articles Tagged - US30

Technical Analysis – US 30 stock index dives below ascending channel

Posted on February 27, 2020 at 10:32 am GMT

The US 30 stock index faced strong selling this week that forced the price to abandon the 10-month old channel and drop to a four-month low of 26,483, where the 38.2% Fibonacci of the 21,596-29,582 upleg happens to be. A rebound or some stabilization near recent lows cannot be ruled out as the RSI and the Stochastics flag oversold conditions. Yet, with the price having breached the channel significantly to the downside and the 20-day simple moving average (SMA) set to cross [..]

Daily Market Comment – Dollar retreats, stocks in freefall as virus engulfs markets

Posted on February 27, 2020 at 9:41 am GMT

Virus concerns intensify, pushing dollar lower amid mounting expectations for Fed rate cuts Stocks crater, and risk aversion may linger ahead of Chinese PMIs Euro the big winner, capitalizing on dollar’s retreat and defensive inflows Global carnage deepens as virus spreads Worries about the coronavirus continue to plague markets, as every passing day makes it clearer that this crisis won’t blow over soon, and the disruptions initially on supply chains and then on demand could be the ‘black swan’ that [..]

Daily Market Comment – Stocks crumble alongside dollar as virus wreaks havoc

Posted on February 26, 2020 at 9:33 am GMT

US stock markets in meltdown as virus concerns deepen News flow might worsen from here, so risk aversion could linger King dollar dethroned by resurgent yen and a euro that looks more like a safe haven Aussie/dollar collapses to new 11-year low after soft data Safe havens shine, equities plunge as risk aversion reigns The reprieve in global markets didn’t last long, with virus worries returning with a vengeance yesterday to haunt riskier assets and boost defensive trades. US stocks [..]

Daily Market Comment – Dollar and gold shine but yen subdued as virus cases spike again

Posted on February 21, 2020 at 9:22 am GMT

Flight to safety boosts dollar and gold, yen nurses losses as new virus cases jump again Risk aversion finally reaches equity markets as global stocks stumble All eyes on flash PMIs as virus outbreak shows no sign of abating Dollar holds firm; gold hits fresh 7-year highs The risk-off mood deepened on Friday as China reported another spike in new confirmed cases of the coronavirus, most of which were in two prisons in Hubei province. But investors were also spooked [..]

How long until US stocks ‘feel the Bern’? – Special Report

Posted on February 14, 2020 at 2:04 pm GMT

The Democratic primary race, which will decide who will square off against President Trump at the November presidential election, has kicked off. The field of candidates remains crowded and the outcome uncertain, though national polls increasingly suggest that Senator Bernie Sanders could emerge as the winner. Markets have been complacent so far, assuming that a Sanders surge might boost Trump’s re-election chances by dividing the Democrats. Yet, if Sanders continues to gain momentum, then US stocks – especially the healthcare [..]

Daily Market Comment – Euro continues to suffer, pound jumps on fiscal hopes

Posted on February 14, 2020 at 9:25 am GMT

‘King dollar’ reigns supreme as euro rolls over Pound jumps as UK Chancellor resigns, fueling expectations for fiscal boost Wall Street pares losses, closes near records as ‘all news is good news’ US retail sales the highlight today – crucial for Fed Euro/dollar drifts lower as European exodus accelerates Another day, another multi-year low for euro/dollar, which continues its astonishing collapse having fallen in eight of the last nine sessions. The virus outbreak eradicated any surviving hopes for a real [..]

Daily Market Comment – Dollar capitalizes as euro crumbles; Risk aversion strikes back

Posted on February 13, 2020 at 9:22 am GMT

Euro/dollar and euro/franc sink to multi-year lows after weak data extinguish hopes of European recovery Pain train for euro may not be over, difficult to see what can turn this around Meanwhile, virus worries return to haunt stocks and commodity currencies as death toll jumps – yen shines Euro caves in under the weight of disappointing industrial data The world’s most traded currency pair continued its epic downfall yesterday, touching a low last seen in 2017 after a batch of [..]

Daily Market Comment – Stocks undeterred by Bernie win; RBNZ lifts kiwi

Posted on February 12, 2020 at 9:39 am GMT

US equities close at new highs as Powell confirms liquidity injections will continue Futures point to a higher open today as well, despite Bernie Sanders’ election victory Kiwi jumps as RBNZ abandons easing bias, signals an end to rate-cut cycle Wall Street sets more records, yen and gold retreat Financial markets continue to trade in a ‘risk-on’ manner as fears that the coronavirus will have a long-lasting impact on the global economy are gradually diminishing, thanks to a substantial slowdown [..]

Daily Market Comment – ‘King dollar’ continues its reign after solid jobs data

Posted on February 10, 2020 at 9:45 am GMT

Dollar cruises higher after strong payrolls push back expected timing of Fed cuts Yet, stocks struggle for altitude, yen climbs as virus fears remain in play Aussie breaks 11-year low, but quickly bounces back The world’s reserve currency shined once again on Friday, after US payrolls for January exceeded estimates, prompting traders to push back the expected timing of the next Fed rate cut. Nonfarm payrolls rose by 225k, smashing the forecast for a 160k increase and signaling that the [..]

Daily Market Comment – Chinese stocks fall apart, but currencies take a breather

Posted on February 3, 2020 at 9:45 am GMT

Equities in China fall ~8%, but broader market stabilizes after Friday’s selloff Recession fears reignite, pushing dollar down as Fed rate cuts are priced in Pound drops as Boris ‘talks tough’ – prelude of things to come? US Democratic primary begins, will Bernie Sanders spook stocks? Chinese equities disintegrate, despite PBoC rate cut The coronavirus theme continues to torment financial markets, with Chinese stocks closing lower by almost 8% today, on their first day back from holidays. The losses [..]

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