All Articles Tagged - US30

Daily Market Comment – Rising yields pressure stocks, Tesla sinks, but dollar stuck in tight range

Posted on December 28, 2022 at 10:16 am GMT

Growth stocks feel the heat of yields resurgence, plunging Tesla sends Nasdaq diving BoJ knocks down yen again, but other major FX pairs stuck in narrow ranges Gold and oil pare back gains as dollar regains some footing Bond yields stage surprise year-end rally, stocks don’t like it Markets have turned choppy as trading winds down for the year. With just three trading days remaining and very few significant developments for investors to sift through, the bond market is taking [..]

Nasdaq plays catchup after soft US CPI and Oracle earnings add to optimism – Stock Market News

Posted on December 14, 2022 at 10:37 am GMT

Wall Street is making a fresh dash upwards ahead of key central bank decisions, starting with the Fed on Wednesday. The softer-than-expected inflation report out of the US has injected renewed optimism, which was already building up from the positive headlines around China’s reopening and some impressive earnings from Oracle. But how sustainable is this latest rebound? Dow Jones jumps back above 34,000 The Dow Jones has been outperforming the broader market for the last couple of months now and [..]

Technical Analysis – US 30 index consolidates as convergence by SMAs raises eyebrows

Posted on December 8, 2022 at 9:59 am GMT

The US 30 cash index is consolidating around 33,600 as a 5-day correction has pushed it below the 34,663 high seen on December 1. This correction appears to be a product of the bearish divergence between the Average Directional Movement Index (ADX) and the cash index, demonstrated by lower highs in the former and higher highs in the latter. The stochastic is endorsing this correction as it finally broke below its moving average and the overbought territory. The almost vertical [..]

Daily Market Comment – Yen plunge continues; UK inflation returns to double digits

Posted on October 19, 2022 at 8:10 am GMT

Yen extends freefall as traders defy intervention warnings Pound slides after UK inflation returns to double digits Loonie traders await inflation numbers as well Equities extend recovery on better earnings results Intervention warnings intensify as dollar nears 150 yen The US dollar traded slightly lower against most of the other major currencies on Tuesday but rebounded somewhat today. The only currencies against which the greenback gained some ground yesterday was the Japanese yen and the British pound, with the former [..]

Daily Market Comment – US CPI data enters the limelight, BoE sticks to its guns

Posted on October 13, 2022 at 8:26 am GMT

Dollar up on PPI data, down on Fed minutes Investors lock gaze on US CPI numbers Pound rebounds, but BoE cuts gains short Dollar/yen keeps rising as yen stays helpless Dollar calm after some ups and downs The US dollar traded in a quiet manner during the Asian session today, and although it had some ups and downs yesterday, its broader trend and outlook have barely changed. The greenback received a small boost after data revealed that US producer prices [..]

Technical Analysis – US 30 index consolidates after 20-day SMA caps gains

Posted on October 12, 2022 at 2:30 pm GMT

US 30 stock index (cash) is consolidating after the latest upside attempt faltered when the price ran into the 20-day simple moving average (SMA). The momentum indicators are sending mixed signals, endorsing the current trendless motion. The RSI is flat below the 50-neutral level. On the other hand, both the %K and %D lines of the stochastic oscillator are sliding and could soon enter the oversold region. If the price manages to creep upwards in the next few sessions and [..]

Daily Market Comment – Dollar steady ahead of US retail sales, Fed minutes as stocks stay buoyant

Posted on August 17, 2022 at 8:50 am GMT

US retail giants lift recession gloom, as Dow Jones and S&P 500 extend gains But FX market focused on US data and Fed minutes, dollar stays firm Pound and kiwi reverse gains from UK inflation surprise and hawkish RBNZ Stocks stay on the bright side Equity traders continue to shrug off persisting recession worries, choosing to bet instead that a severe downturn will be avoided, at least when it comes to earnings. Walmart and Home Depot were the latest to [..]

Daily Market Comment – Wall Street rallies on earnings boost, euro hits 2-week high on ECB bets

Posted on July 20, 2022 at 9:14 am GMT

Gloom fades further with the help of earnings as stocks rally, dollar retreats Euro extends recovery as ECB decision looms, gas supply fears subside Pound rises on hawkish BoE but political risks cap gains Have stocks reached a bottom? The market mood improved dramatically overnight after Wall Street notched up its best daily gains in almost four weeks. After the recent avalanche of dreadful headlines, things appear to be looking up somewhat, leading some investors to speculate whether the worst [..]

Daily Market Comment – Choppy trading in build up to US CPI, central bank bonanza

Posted on June 8, 2022 at 9:23 am GMT

Wall Street closes up but futures slip amid wavering sentiment Dollar maintains upward crawl as inflation and growth worries persist Yen keeps sinking, loonie outperforms as tight oil supply boosts prices Stocks lack direction but bargain hunters lurk Bargain hunters drove Wall Street higher on Tuesday, piling into defensive tech stocks and energy shares. The S&P 500 and Nasdaq Composite both closed up about 1%, but the Dow Jones lagged slightly. Retailers weighed on Wall Street after the department store [..]

US Open Note – Dollar continues the sell-off after ADP and ahead of NFP; oil erases losses

Posted on June 2, 2022 at 12:43 pm GMT

ADP dissapoints; NFP comes out tomorrow After the disappointing release of the ADP report which announced 128K workers versus 300K that was expected, the dollar is still trading lower. After two days in a row of gains, the dollar index retraced to a low of 102.12. As dollar/yen traded over 130 for the first time since the middle of May, the trend of the yen weakening has re-established itself. Sterling is holding above $1.25, within the short-term moving averages. Yesterday, Bullard stated that the path that the Fed [..]

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