All Articles Tagged - US500

Market Comment – Markets perk up as soft PPI sets the tone ahead of US CPI

Posted on August 14, 2024 at 8:36 am GMT

Stocks perk up after soft US producer prices, all eyes now on CPI report Kiwi slumps after RBNZ cuts rates and signals more to come Pound also slips on weaker-than-expected UK inflation data Gold holds near record high as dollar skids, ME tensions mount Mood brightens ahead of US CPI data The rebound in equity markets gained further traction on Tuesday after US producer prices rose less than expected in July, raising hopes that today’s report on consumer prices will [..]

Midweek Technical Look – GBPJPY, US 500, WTI

Posted on August 1, 2024 at 11:11 am GMT

GBPJPY records fresh 3-month low, losing 4% from 199.40 US 500 rebounds off long-term ascending trend line WTI crude oil recoups significant losses, jumping above 200-day SMA [..]

Technical Analysis – US 500 index meets support at short-term uptrend line

Posted on July 22, 2024 at 9:10 am GMT

US 500 index capped by 20-day SMA Near-term rising line still holds Stochastics and RSI suggest upside moves The US 500 (cash) index rebounded off the short-term uptrend line around the 5,520 support level after falling from a record high of 5,673.39. The technical oscillators suggest a possible market upside retracement. The stochastic oscillator is pointing upwards after the dive towards the 20 level, while the RSI is heading up following the plunge beneath the uptrend line, which had been [..]

Market Comment – Wall Street extends record streak, gold joins in

Posted on July 17, 2024 at 8:15 am GMT

Rate cut and soft landing bets propel US equities to new highs Gold also sets a new record as US yields sink despite Trump risks Pound and kiwi edge up on slight upside surprises in CPI data US stocks brace for soft landing Optimism that the Fed is well placed to engineer a soft landing by cutting rates soon continues to fuel risk appetite on Wall Street, even as equity markets globally struggle against the prospect of Trump 2.0. Worries [..]

Technical Analysis – US 500 index unlocks another new high

Posted on July 8, 2024 at 8:24 am GMT

US 500 index turns higher above 5,500 Sentiment weakens, but the bulls might have another chance Momentum oscillators look overstretched The US 500 (cash) index is traveling near the all-time high of 5,569 that was posted back on Friday, standing well above the short- and long-term ascending trend lines. Entering the 5,500 area has been a struggle over the past two days and there might be another tough obstacle near 5,600, but the bulls may give up the battle, according to [..]

Market Comment – Dollar skids on ISM services dip, pound steady as UK votes

Posted on July 4, 2024 at 8:59 am GMT

ISM services PMI points to unexpected contraction in June Treasury yields and dollar take a dive, but Wall Street rallies Pound in bullish mode as UK goes to the polls amid broader risk appetite September rate cut seen more likely Expectations of a September rate cut got another boost on Wednesday after the ISM services PMI fell into contractionary territory, adding to the growing signs of a slowing US economy. The closely watched PMI indicator for the non-manufacturing sector fell [..]

Midweek Technical Look – GBPJPY, Oil, US 500

Posted on June 20, 2024 at 9:58 am GMT

GBPJPY tries to retest 16-year high WTI crude oil eases somewhat after almost 2-month high US 500 skyrockets to another record peak above 5,500 [..]

Market Comment – Wall Street sets another record after soft US retail sales

Posted on June 19, 2024 at 8:47 am GMT

Risk appetite buoyed by signs of weakening US consumption Wall Street closes at record highs ahead of US holiday, oil also rallies Pound edges up as services CPI remains sticky despite drop in headline September rate cut hopes get a boost US retail sales fell short of expectations on Tuesday, in another sign that consumers in America have started to rein in their spending. Retail sales increased by just 0.1% m/m in May following a downwardly revised decline of 0.2% [..]

Technical Analysis – US 500 index eases after the climb to new high

Posted on June 17, 2024 at 9:46 am GMT

US 500 index calms near the 261.8% Fibonacci extension level RSI and Stochastics are flattening The US 500 (cash) index has been moving with weak momentum over the last couple of sessions after the surge towards a new record peak of 5,449.73, holding near the 261.8% Fibonacci extension level of the up leg from 4,924 to 4,100 at 5,425. The market is looking overstretched as the technical oscillators are moving horizontally near their overbought territories. The RSI is flattening [..]

Market Comment – ECB cut awaited as Wall Street sets new record

Posted on June 6, 2024 at 8:58 am GMT

ECB expected to follow in BoC’s footsteps and cut by 25bps Fed rate cut hopes rise despite upbeat ISM services PMI Dollar mostly steady, stocks surge higher ECB set to deliver this week’s second cut The European Central Bank is on course to become the second central bank in the G7 this week to lower borrowing costs after the Bank of Canada paved the way on Wednesday. Easing inflation and sluggish economic growth prompted the BoC to cut its overnight [..]

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