All Articles Tagged - US30

US Open Note – Dollar loses ground after five weeks of gains

Posted on May 20, 2022 at 1:03 pm GMT

Dollar index ticks down as euro approaches $1.06 On Friday, the US dollar was on track to have its worst week against key rivals since the beginning of February. Global stocks have been falling this week as well due to risks to growth from aggressive monetary tightening – led by the Federal Reserve – and China’s strict lockdowns to quash an outbreak of Covid-19. The appeal of the dollar as a haven was eclipsed overnight by a decline in US yields as investors rushed for [..]

Daily Market Comment – Stocks crumble after dead-cat bounce but dollar unmoved

Posted on May 19, 2022 at 9:33 am GMT

S&P 500 plunges the most in two years as inflation reality for earnings sets in But follow-up panic in global equities today somewhat ‘contained’ FX and bond markets also calm as dollar steady US retail giants crash as inflation bites Sellers returned to Wall Street on Wednesday as a big drop in profits by America’s retail behemoths raised the spectre of diminishing margins, in what could only be the start of high inflation eating into corporate earnings. Target was the [..]

Technical Analysis – US 30 index’s gains curbed by Ichimoku cloud and 100-MA

Posted on May 19, 2022 at 7:56 am GMT

The US 30 stock index (Cash) has been driven back down to the vicinity of its recently recorded 14-month low of 31,224 by the restricting Ichimoku cloud and the descending 100-period simple moving average (SMA). That said the falling SMAs are endorsing the approximately one-month downward bearing from the 35,496 high, which pierced marginally below the 31,321 low reached back in March 2021, where the price had found its latest footing prior to current selling pressures. The Ichimoku lines are [..]

US Open Note – Dollar cools off, euro turns up and gold back to $1,800

Posted on May 16, 2022 at 12:53 pm GMT

Chinese data drives dollar higher In the wake of disappointing Chinese economic statistics, which sent the British pound and the Australian dollar down, the US dollar held onto its two-decade high earlier in the day. The surge in the dollar has been fuelled by China’s long-term economic lockdowns, which have contributed together with other uncertainties to an almost 10% rise in the dollar index since the beginning of 2022. In April, China’s retail and industrial activity declined substantially due to widespread Covid-19 lockdowns, which kept workers [..]

US Open Note – Dollar unlocks 20-year high; euro breaks $1.04

Posted on May 12, 2022 at 12:57 pm GMT

Dollar surges but dips against yen The dollar touched a two-decade high against a basket of currencies after US inflation fell less than expected in April. Dollar/yen is declining by 1%, meeting the 129.40 level. Despite increasingly hawkish ECB rhetoric, the euro is trading below $1.0400, falling by 1.0%, with the next key support coming at $1.0340. Euro/yen and pound/yen are plummeting over 2% today. US stock futures are suggesting a strong negative open, continuing the several days of losses. The safe-haven greenback gained support from a worldwide equity sell-off because of investor concerns that central banks are behind the curve [..]

US Open Note – US CPI beats expectations and rises by 8.3%; dollar moves up again

Posted on May 11, 2022 at 1:36 pm GMT

The CPI rate ticked up by 8.3% in the year that ended in April. The annual CPI decrease was the first since August, but it was the eighth month in a row of gains of more than 6%. In March, the Consumer Price Index (CPI) rose 8.5% year-over-year, the highest increase since December 1981. After the release of higher-than-expected CPI figures, the dollar initially rose. The dollar index is showing positive signs as it jumped beyond 104.00; however, US futures are leading lower, suggesting a [..]

US Open Note – Dollar steadies as it awaits US CPI data

Posted on May 10, 2022 at 12:50 pm GMT

Fed speakers today and US CPI tomorrow in focus This week, Fed speakers will be out in full force to disseminate the latest views of the central bank. Each one of these officials has a chance to share their thoughts on current policy. Barkin did this last week and put 75 bp back on the table, stressing that he wants to raise rates “as quickly as possible.” Others at the Fed are also likely to adopt a more hawkish outlook in the coming days. But the main thing to [..]

Daily Market Comment – Stocks steadier after Wall Street selloff, dollar eases

Posted on May 10, 2022 at 9:10 am GMT

S&P 500 plunges below 4,000, Nasdaq crashes 4%, but futures turn positive today Dollar edges down as yields cool off slightly ahead of Fed speakers, US CPI Oil remains under pressure as EU waters downs Russian oil embargo Stock market rout deepens Equity markets have steadied on Tuesday as investors licked their wounds following the heavy losses at the start of the week that extended the post-Fed meeting selloff. Growth and mega-cap tech stocks led the carnage on Wall Street [..]

US Open Note – Dollar index surges to 20-year high; Yen still plunging

Posted on April 28, 2022 at 1:15 pm GMT

BoJ maintains dovish stance The Bank of Japan (BoJ), announced a continuation of its ultra-low yield policy earlier today, catapulting the dollar beyond the psychological threshold of 130.00 yen, to the highest level since 2002, hitting the 131.00 round number. The euro, meanwhile, dipped below another important handle of $1.05. The dollar index is extending its movement towards a 20-year high of 103.92. US stocks futures are suggesting a second positive day in a row for the S&P 500 ahead of the earnings results by Apple and Amazon after the closing bell today. There had been considerable market speculation that the [..]

Daily Market Comment – Euro perks up, fends off steadier dollar amid growing ECB rate hike talk

Posted on April 21, 2022 at 8:46 am GMT

Euro extends gains as ECB policymakers increasingly in favour of raising rates soon Dollar mixed despite higher Treasury yields; yen settles around 128 per dollar US and European stock futures edge up after Tesla earnings beat, China slips ECB rate hike chatter buoys euro The euro is gaining traction on Thursday, extending this week’s rebound to flirt with the $1.09 level, as investors ratchet up their bets that the European Central Bank is getting closer to hiking rates soon. Several [..]

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