All Articles Tagged - US30

Technical analysis – US 30 index turns bearish in the short-term

Posted on October 26, 2018 at 1:06 pm GMT

The US 30 index recorded considerable losses in recent weeks, touching a 3½-month low on October 24, and falling below both its 50- and 200-day simple moving averages (SMA). Hence, the short-term bias has turned negative, though the fact that the market is still trading above an uptrend support line drawn from the lows of February 6 keeps the medium-term outlook neutral for now. Taking a look at short-term oscillators, the RSI – already below its neutral 50 line – [..]

US Open Preview – Stocks remain in the eye of risk-off storm; US GDP on tap

Posted on October 26, 2018 at 11:23 am GMT

Here are the latest developments in global markets: FOREX: The Japanese yen is by far the best performer among the major currencies on Friday, with the session being characterized by broad-based risk aversion thus far. Dollar/yen (-0.40%) is trading just a few pips below the 112.00 handle, while euro/yen (-0.61%) touched a fresh two-month low, as investors sought the safety of the Japanese currency. The dollar is also on the front foot ahead of the release of US GDP data, [..]

European Open Preview – No love for euro despite steady ECB; US GDP growth eyed

Posted on October 26, 2018 at 7:52 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is little changed on Friday (-0.06%), holding on to the gains it recorded yesterday. Although there wasn’t anything new out of the US, the greenback capitalized on weakness in the euro and sterling (see below), touching fresh two-month highs against both. Meanwhile, the safe-haven Japanese yen is outperforming today, as the recovery in risk sentiment seen yesterday appears to have been short-lived. Consequently, the commodity-linked currencies (aussie, kiwi, [..]

European Open Preview – Equity selloff accelerates; ECB meeting in the spotlight

Posted on October 25, 2018 at 7:58 am GMT

Here are the latest developments in global markets: FOREX: The dollar is down by 0.21% against a basket of six major currencies on Thursday, giving back some of the gains it posted yesterday, when it capitalized on weakness in the euro. Meanwhile, the defensive yen recovered early losses on Wednesday to finish the session as the second-best performer, as the stock sell-off accelerated. The best performer was the loonie, which soared after the Bank of Canada (BoC) raised rates and [..]

European Open Preview – Risk aversion takes a breather; BoC to raise rates

Posted on October 24, 2018 at 8:14 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is nearly flat on Wednesday (+0.05%), consolidating the modest losses it posted yesterday. The defensive yen outperformed amid fragile market sentiment, though it has stabilized somewhat today. In the UK, the pound jumped higher on reports the EU may offer a UK-wide customs arrangement, but pared most of its gains on speculation PM May is likely to face a mutiny soon. In Canada, the loonie ignored a sharp [..]

Stock Market News – Microsoft earnings on tap: upbeat report could see stock challenge record high

Posted on October 23, 2018 at 2:38 pm GMT

Microsoft’s earnings report for its fiscal first quarter will be made public after Wednesday’s closing bell on Wall Street. The consensus recommendation for the company is “buy”, which matches the average consensus recommendation for the Software peer group. Reuters’ estimates put the tech giant’s earnings per share (EPS) at $0.96 during the quarter ending in September, a forecast which has remained unchanged over the last four weeks. If bottom line results come as expected, this would translate into an increase [..]

European Open Preview – Stocks pressured as risk aversion strikes back; EU to reject Italy’s budget

Posted on October 23, 2018 at 7:57 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is higher on Tuesday, albeit by only 0.10%, attempting to extend the gains it recorded yesterday. The yen is reigning supreme among the G10 currencies amid renewed risk aversion, while the antipodeans aussie and kiwi are underperforming. Meanwhile, the pound is consolidating losses from yesterday, and the euro is also retaining a soft undertone amid the poor risk appetite and fading relief in the Italian bond market. STOCKS: [..]

Stock Market News – Boeing & Caterpillar earnings coming up: trade conflict to weigh on their outlook?

Posted on October 22, 2018 at 3:05 pm GMT

Boeing’s earnings report for Q3 2018 is due before Wednesday’s opening bell on Wall Street. The consensus recommendation for the company is “buy”, which is in line with the average consensus recommendation for the Aerospace & Defense peer group. The plane maker’s outlook may well depend on how it performs in China, with the ongoing Sino-US trade dispute acting as a potential drag on Boeing’s prospects. According to Reuters’ estimates, the aircraft manufacturer is anticipated to have made $3.49 in [..]

European Open Preview – Euro bounces as Italian worries take a back seat; Brexit remains in focus

Posted on October 22, 2018 at 7:59 am GMT

Here are the latest developments in global markets: FOREX: The dollar was down by 0.17% against a basket of six major currencies on Monday, extending losses from Friday. Those losses came as the currency with the biggest weight by far in this index – the euro – rebounded, amid encouraging signals that the EU and Italy may manage to avert a full-fledged conflict over budget deficit rules. The British pound edged higher on hints the UK may be softening its [..]

European Open Preview – Italian worries haunt the euro; key Canadian data on the agenda

Posted on October 19, 2018 at 7:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is a touch higher on Friday (+0.08%), adding to the gains it recorded in the prior session and looking set to end the week meaningfully higher. The pound was the worst performer on Thursday amid a lack of progress on Brexit and downbeat UK data, while the euro also took a hit as Italian budget concerns came back to the forefront. The yen outperformed as risk aversion dominated, but [..]

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