All Articles Tagged - US500

Daily Comment – Euro sinks on poor PMIs, dollar firms ahead of Fedspeak

Posted on September 23, 2024 at 9:02 am GMT

Eurozone PMIs dip into contraction zone, euro takes a dive Stocks mixed as weak PMIs offset optimism about China stimulus Dollar edges up as after Waller comments; Powell and PCE inflation eyed next Euro tumbles as recession fears return Eurozone business activity unexpectedly contracted in September according to the flash PMI estimates for September, sparking fresh concerns about the health of the economy. The S&P Global composite PMI fell to 48.9 in September from 51.0 in August, as German manufacturing [..]

Midweek Technical Look – Gold, US 500, GBPJPY

Posted on September 19, 2024 at 9:02 am GMT

Gold touches 2,600 after Fed decision US 500 records another all-time high; strong bullish bias today GBPJPY posts several days of gains; bearish cross within SMAs [..]

Technical Analysis – US 500 index rallies towards previous peaks

Posted on September 16, 2024 at 9:33 am GMT

US 500 index holds above 20- and 50-day SMAs Stochastics and RSI turn slightly lower MACD remains above its trigger and zero line The US 500 (cash) index added around 5% so far, following the pullback off 5,385 and posted five consecutive green days. The price is ready to rechallenge the previous peak of 5,650 ahead of the all-time high of 5,673.39. Steeper increases may open the way for a test of the 161.8% Fibonacci extension level of the latest [..]

Daily Comment – Dollar firms after CPI, euro awaits ECB, techs lead equities rebound

Posted on September 12, 2024 at 8:51 am GMT

US dollar edges up after CPI report wipes out 50-bps rate cut bets Euro stuck on the backfoot in wait for ECB decision Wall Street rebound gathers pace as tech stocks rally Mixed CPI report disappoints US inflation fell to the lowest since February 2021 in August, but the bigger-than-expected drop in the headline figure was overshadowed by an acceleration in the monthly core measure. Wednesday’s CPI report was the last major piece of data before next week’s policy announcement [..]

Technical Analysis – US 500 index could see further weakness

Posted on September 6, 2024 at 11:08 am GMT

US 500 index posts negative days lately Next support at long-term rising trend line Momentum oscillators confirm bearish correction The US 500 cash index is recording the fourth straight negative session, losing more than 3%. The price is currently retreating beneath the 5,565 strong resistance level as well as below the 20- and the 50-day simple moving averages (SMAs). According to technical oscillators, the stochastic is holding in the oversold area, the RSI is pointing down beneath the neutral threshold [..]

Midweek Technical Look – EURUSD, US 500, oil

Posted on September 5, 2024 at 9:27 am GMT

EURUSD rebounded off 1.1030 ahead of NFP data US 500 looks flat after aggressive losses WTI crude oil heads slightly up from 8-month low [..]

Daily Comment – Dollar edges up ahead of PCE inflation as stocks drift

Posted on August 30, 2024 at 9:10 am GMT

All eyes on US core PCE and consumption as bets for 50-bps cut stall Dollar headed for weekly gains but Nasdaq has disappointing week Euro on the backfoot as soft Eurozone CPI cements September cut Big Tech woes weigh on Wall Street The US dollar looks set to pare its monthly losses as it heads for its first weekly gain since mid-July amid more evidence that the US economy is humming along nicely. The same cannot be said for stocks [..]

Daily Comment – Rate cut euphoria tempered by geopolitics as oil surges

Posted on August 27, 2024 at 8:54 am GMT

Mood turns cautious amid geopolitical uncertainty in Libya and Gaza Fears of supply disruptions drive up oil prices, S&P 500 closes lower China concerns also weigh but European stocks turn positive as data awaited Geopolitical risks take over as oil rallies Equity markets were mixed on Tuesday and the US dollar consolidated as investors turned cautious ahead of the week’s main events amid renewed fears about disruptions to oil supply. Investors turned cautious ahead of the week’s main events amid [..]

Technical Analysis – US 500 index slips after 10% recovery

Posted on August 19, 2024 at 8:31 am GMT

US 500 index rises above long-term uptrend line 200-day SMA still holds well Stochastic and RSI indicate overstretched market The US 500 cash index recovered by almost 10% from the bearish wave that started from the all-time high of 5,673.39 and is currently returning to a position above the long-term ascending trend line. The index found strong support at the 2,090 support level, which stands near the 200-day simple moving average (SMA). Technically, the price is hovering above the short-term SMAs, but the [..]

Week Ahead – Jackson Hole and PMIs enter the spotlight

Posted on August 15, 2024 at 1:50 pm GMT

As recession fears ease, investors lock gaze on Jackson Hole Eurozone and UK PMIs to affect ECB and BoE expectations Canadian inflation could back third consecutive BoC cut Japan’s Nationwide CPI data also on the agenda Jackson Hole to test overly dovish Fed cut bets Following the unjustified panic triggered by the weaker-than-expected NFP report for July, investors have taken a calmer stance, thereafter, reevaluating their aggressive Fed rate cut bets as the incoming data suggested that the US economy [..]

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