All Articles Tagged - US500

Technical Analysis – US 500 index stays buoyant as negative pressures evaporate

Posted on July 12, 2021 at 3:35 pm GMT

The US 500 stock index (Cash) appears to remain upbeat, having stretched to a fresh all-time high of 4,381, after a recent but only minor pullback to a low of 4,287, residing amid the bullish Ichimoku lines presently at 4,332 and 4,265. The simple moving averages (SMAs) are maintaining firm northbound bearings, providing defences to the positive structure. The short-term oscillators are also indicating price’s preference to steer higher, reflecting the pickup in positive sentiment. The MACD, north of the [..]

US Open Note – Dollar soars ahead of busy week; commodities ease

Posted on July 12, 2021 at 12:35 pm GMT

Dollar’s strong move drives euro lower Ahead of a busy week, the dollar is moving higher against a basket of currencies. Dollar/yen is holding above the 110.00 handle, developing within the short-term simple moving averages (SMAs), while US futures are mixed before the market opens. Euro/dollar is slipping below the 1.1850 level as ECB President Lagarde warned investors to expect new monetary stimulus guidelines in the next ten days and hinted that more measures to help the euro-area economy may [..]

Daily Market Comment – Risk appetite runs into trouble again as virus cases trend higher

Posted on July 12, 2021 at 9:24 am GMT

Worries that Delta variant is fuelling a new global surge in infections sap sentiment Dollar halts decline, edges up, while stocks back under pressure Bonds to stay in focus as Treasury auctions, CB meetings, Powell testimony coming up Subdued start to week as virus woes return Risk assets were struggling on Monday as signs that virus infections have started to creep higher globally put a dent in the improvement in sentiment that took hold from the middle of last week. [..]

US Open Note – Stocks remain upbeat and dollar stabilizes

Posted on July 7, 2021 at 1:52 pm GMT

Softened market mood prepares for US job openings and Fed minutes The Nasdaq 100 remains comfortably at its highs, while the S&P 500 and the Dow Jones Industrial Index have largely recouped the minor setback related to yesterday’s ISM PMI data. Markets have calmed and the dollar index is consolidating around 92.50, following its latest gains. The minor cooling of the US economy along with 10-year yields dropping to 1.30% have barely hurt the dollar. That said, four straight months [..]

US Open Note – Stocks tread water around highs and dollar ticks up

Posted on July 6, 2021 at 2:31 pm GMT

Markets process June ISM services PMI Markets seem somewhat muted around their highs after Friday’s mixed payrolls report but the greenback’s demeanour has strengthened slightly. Although global recoveries are on the right path, markets continue to try and clearly decipher the plans or approaching plans of central banks gradually ending accommodative policy. The dollar index has improved to 92.40, while the euro and sterling faded from their intraday highs but held above the $1.1800 and $1.3800 borders. Spikes in infections [..]

Technical Analysis – US 500 index at fresh top of 4,355; upside risks look sturdy

Posted on July 5, 2021 at 1:06 pm GMT

The US 500 stock index (Cash) is consolidating in the vicinity of the 4,350 level, after spiking to a new all-time high of 4,355 on Friday, the former being the 150.0% Fibonacci extension of the down leg from 4,244 until 4,034. The rising simple moving averages (SMAs) are endorsing the bullish picture, while the Ichimoku lines are mirroring a pause in positive momentum. The short-term oscillators are currently mixed as the price persists around its highs. The MACD is far [..]

US Open Note – Dollar slips as NFP report is mixed

Posted on July 2, 2021 at 1:04 pm GMT

Dollar dives after NFP report; unemployment rate advances to 5.9% The US payrolls figure has stolen the attention of traders today as has taken the markets by surprise. The dollar lost some ground after the publication of the non-farm payrolls report, falling near 111.30 against the yen after a strong bullish start towards 111.70 earlier in the day. The US dollar index is moving lower after it topped at 92.74 during the release, while S&P 500, Nasdaq 100 futures and Dow Jones are recording new [..]

Daily Market Comment – Dollar on the offensive ahead of NFP; OPEC+ decision postponed

Posted on July 2, 2021 at 8:59 am GMT

Dollar scales fresh highs as NFP forecasts edge up, hits 15-month peak versus yen Another mixed day for stocks as Asian growth worries persist but S&P 500 extends record streak Oil slips from highs as OPEC+ meeting delayed amid disagreements Dollar strength prevails on Jobs Friday The US dollar maintained its northward bound on Friday as investors awaited the hotly anticipated jobs report out of the United States for possible clues about Fed tapering. There have been subtle hints from [..]

US Open Note – Stocks near highs; dollar’s radar locked on payrolls

Posted on July 1, 2021 at 1:56 pm GMT

Markets tense prior to US Manufacturing PMI and ahead of NFP payrolls Yesterday’s stronger ADP employment numbers floated the dollar index up, reaching an intra-day high of 92.50 and now investors’ focus is locked on Friday’s NFP payrolls report, to underpin the greenback. Currently, the 10-year yields are at 1.43%, not aiding the dollar much. It remains to be seen if the US ISM Manufacturing PMI will also beat forecasts of 61.0 for June, which could help the dollar counter [..]

Daily Market Comment – Dollar extends gains as virus blues strike again

Posted on July 1, 2021 at 8:53 am GMT

Dollar climbs to 3-month high as worries about Delta variant weigh on markets But equities mixed as US jobs report awaited for more direction Major FX pairs steady, oil firms ahead of OPEC+ output decision Dollar ascends as virus jitters return Fresh concerns that the Delta Covid-19 strain will undermine the recovery in Asia and possibly elsewhere too hurt sentiment on Thursday, though positioning ahead of tomorrow’s US jobs data also made for some cautious trading. The US dollar advanced [..]

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