All Articles Tagged - US500

US Open Note – Stocks gain some footing; coronavirus dejavu-jitters linger

Posted on July 20, 2021 at 2:02 pm GMT

Stocks adjust to delta trauma while dollar holds firm Markets seem to be gradually regaining consciousness from yesterday’s risk-off blow even as yields are on the back foot. That said, the US recovery is clearly ahead of other lagging economies and may start to make headways again as uncertainty and delta variant related concerns start to establish themselves elsewhere. The dollar index is flirting with the 93.00 mark and is holding up fairly well in the forex arena despite the [..]

Technical Analysis – US 500 index’s plunge stretches below 200-MA

Posted on July 19, 2021 at 3:20 pm GMT

The US 500 stock index has continued to deteriorate from the region of its all-time highs of 4,392, slipping below the simple moving averages (SMAs), before finding some footing around the 4,232-4,241 support zone. The topping 50-period SMA is suggesting a slight shift in sentiment to the downside as it heads for a bearish crossover of the 100-period SMA. The diving Ichimoku lines are backing strong downward momentum, while the short-term oscillators are signalling dictating bearish forces. The MACD, below [..]

US Open Note – Dollar rises further after retail sales; kiwi is notably up

Posted on July 16, 2021 at 1:02 pm GMT

Dollar continues to gain momentum as retail sales rise The US dollar is attempting to move higher against a basket of major currencies with US stock futures recovering some of yesterday’s losses. Dollar/yen is advancing above the 110.00 round number, surpassing the 40-day simple moving average (SMA) as retail sales for June gained 0.6% from the previous month, following a revised 1.7% drop in May and significantly outperforming market estimates of a 0.4% drop. Also, the Bank of Japan did not make any policy [..]

Daily Market Comment – Dollar heads for weekly gains, only kiwi can keep up

Posted on July 16, 2021 at 9:23 am GMT

The US dollar is eyeing a strong close to the week; can retail sales ruin its chances? Other majors flounder, except for kiwi, as strong CPI reinforces RBNZ rate hike bets Stocks struggle despite ultra-dovish Powell amid fears growth momentum has peaked Safe havens thrive as outlook gets cloudier It’s been an action-packed and what should have been a positive week for risk assets, with the earnings season getting off to a good start, the Fed’s Powell maintaining his pledge [..]

US Open Note – Stocks sluggish at highs and dollar returns to yesterday’s levels

Posted on July 15, 2021 at 1:15 pm GMT

Stocks ease a tad ahead of Fed Chairman Powell’s upcoming comments The poker face of the Chairman of the Federal Reserve seems to still have markets convinced that inflation is transitory, after delivering rhetoric of a cautious but dovish nature yesterday in his remarks. Nonetheless, the Fed’s goal of stronger employment is clear as are their enduring asset purchases. That said, the FOMC debate around asset-purchases will intensify moving into the year as the US economy grows stronger. It remains [..]

Daily Market Comment – Powell calms inflation nerves; dollar and yields dip but stocks unfazed

Posted on July 15, 2021 at 9:13 am GMT

Fed chief Powell plays down inflation spike, says tapering is “a ways off” Dollar and yields head back down before virus fears re-emerge, yen climbs Equities only modestly boosted as growth concerns weigh after China GDP miss Powell soothes nerves but hints at U-turn Fed Chair Jerome Powell sought to allay growing worries that the bout of higher inflation is here to stay and that stimulus would have to be dialled back soon when testifying before lawmakers on Wednesday. While [..]

US Open Note – Greenback extends pullback before Powell’s testimony

Posted on July 14, 2021 at 1:02 pm GMT

Dollar declines ahead of Powell’s testimony Fed Chair Powell will today testify in front of the House, and tomorrow, he will testify in front of the Senate. Right now, his opinions are well-known and is expected to keep QE as open-ended as possible, but if the US data continues to heat up, the expectation is that something more conclusive will come at either the August Jackson Hole Symposium or the September 21-22 FOMC meeting. Fed Governor Daly stated yesterday that it is time to talk about tapering, and [..]

Daily Market Comment – US CPI spikes again, dollar rallies; kiwi surges too after RBNZ ends QE

Posted on July 14, 2021 at 8:59 am GMT

US inflation jumps again, sending stocks spinning and dollar and yields flying RBNZ shocks by halting bond purchases, kiwi soars as August rate hike eyed Powell testimony in the spotlight as Fed’s patience put to the test Markets settle down after another CPI shock Annual inflation in the United States hit a fresh 13-year high of 5.4% in June, surpassing the top estimates and casting doubt on the Fed’s narrative that this inflationary episode will be transitory. Month-on-month, both the [..]

US Open Note – Stocks dip from record highs and dollar soars after CPI beat

Posted on July 13, 2021 at 1:50 pm GMT

Markets digest key US inflation data Market composure and the subdued volatility in the forex arena quickly faded as today’s US CPI data beat expectations. US major indices dived from their tops as much stronger inflation figures jolted markets, causing jitters in the currency markets as well, shaping into dollar-driven volatility throughout the forex arena. It will be interesting to see the rhetoric in Fed Chairman Jerome Powell’s testimony in the coming days relating to the recovery, price pressures and [..]

Daily Market Comment – Wall Street hits record before earnings kickoff, dollar holds firm

Posted on July 13, 2021 at 9:14 am GMT

Earnings optimism drives US equities to fresh record highs ahead of bank results Risk appetite still shaky in FX markets, dollar and yen resist deeper selloff US inflation data and Powell testimony will be key in directing sentiment Wall Street rallies as reopening boost eyed It’s the start of the second quarter earnings season and optimism is running high that the reopening of the US economy will power corporate earnings to new peaks. The new season will properly kick off [..]

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