All Articles Tagged - US500

US Open Note – Dollar continues to move north after ADP release

Posted on June 30, 2021 at 1:03 pm GMT

The dollar held on to recent gains as virus concerns arose in a market already on edge before the NFP report on Friday that is considered as critical to the Federal Reserve’s monetary policy outlook. Any clues about labor market strength might put more worries on the Fed to move faster on interest rate hikes, potentially lifting the dollar, while data that falls short of expectations could put the currency at risk. In June, private businesses in the US recruited 692,000 workers, down from 978 [..]

Daily Market Comment – Dollar cools as Delta fears ease; Wall Street sets another record

Posted on June 30, 2021 at 9:15 am GMT

Fears over Delta variant subside slightly but soft data limit gains in Asian equities US shares hit fresh records but improved mood knocks dollar off highs Gold slips again, while oil’s rebound also falters ahead OPEC+ meeting Markets steadier as alarm over Delta variant eases Stocks in Asia were mostly in the green on Wednesday as concerns about the impact of tighter restrictions across the region to combat the highly contagious Delta variant abated slightly while another record close on [..]

US Open Note – Stocks near highs and dollar flickers green on hawkish Fed rhetoric

Posted on June 29, 2021 at 1:52 pm GMT

Markets prepare to digest Lagarde’s speech and US consumer confidence data After Friday’s weaker than expected PCE inflation, and expected tapering talk over the summer, not to mention yesterday’s confident tone from Fed officials around their inflation goal, the main focus will turn to Friday’s payrolls report for clues in the labour sector. 10-year yields are at 1.48% and the dollar index is prodding above the 92.00 mark as the greenback’s reach is being felt across the forex arena, subduing [..]

Daily Market Comment – Stocks struggle as Delta variant wreaks havoc, dollar and yen edge up

Posted on June 29, 2021 at 9:03 am GMT

Wall Street notches up another record but Asia falters amid worrying spread of Delta variant Dampened mood and US Covid resilience lift dollar, yen up too Euro stutters as ECB divisions laid bare; pound slips as investors unimpressed by UK’s ‘Freedom Day’ Mixed start for equities as Delta outbreak hits nerves Asian stocks came under pressure for a second day on Tuesday as the rapid spread of the Delta variant of Covid-19 hit growth expectations for the region. Low vaccination [..]

Technical Analysis – US 500 index tiptoes to fresh all-time high

Posted on June 28, 2021 at 2:38 pm GMT

The US 500 stock index (Cash) has ticked to a new all-time high of 4,289, basically a step or two higher from its June 15 level of 4,267. The firm simple moving averages (SMAs) are shielding the uptrend and are steering the price towards the 4,323 level, which happens to be the 176.4% Fibonacci extension of the down leg from 3,396 until 2,183. The Ichimoku lines have converged and are not reflecting growing positive momentum at the moment. The short-term [..]

US Open Note – Markets are calm ahead of data exposure later this week

Posted on June 28, 2021 at 12:41 pm GMT

Dollar flirts with 111 yen; euro retreats near $1.19 as greenback gains ground It’s been a quiet start to the week as the greenback is trying to improve its long-term structure with all the attention turning on the NFP report on Friday. The dollar is heading north just below 111.00 versus the Japanese yen, while the dollar index is finding a restrictive support at the 20-day simple moving average (SMA) near 91.50. The euro is holding near $1.19 for the fourth day in a row but [..]

US Open Note – Stocks log slight gains while greenback is unreactive

Posted on June 24, 2021 at 1:52 pm GMT

Stocks glow temporarily and dollar digests US GDP and jobless claims While stocks marginally pick up and the Nasdaq 100 index claims a new all-time high, the threat of rising inflation, associated with supply bottlenecks, continues to be somewhat downplayed. Furthermore, Fed-taper talks are said to be on the horizon, but a far ways down the road, with Fed Chair Powell highlighting that they will not act hastily towards higher interest rates. Today, the 10-year Treasury yield rose slightly to [..]

US Open Note – Dollar unlocks new yearly high versus yen; oil posts new high

Posted on June 23, 2021 at 12:53 pm GMT

Dollar/yen flies above 111.00; US futures in red As markets wait for US Markit preliminary readings at 13:45 GMT, the dollar is edging higher. After two red days, the dollar index is practically unchanged below 92.00. The US dollar continues to rise versus the Japanese yen, creating new highs for the year, jumping above 111.00. Following Powell’s remarks, stocks rallied; however, US futures are currently trading flat on Wednesday. The single currency is heading above $1.19 but is still stuck [..]

US Open Note – Stocks stabilize and dollar strength lingers

Posted on June 22, 2021 at 1:41 pm GMT

Stocks level as yields support dollar; eyes on Fed Chair’s testimony US major indices are currently poised after yesterday’s rally that recaptured the ground lost after the Fed’s hawkish shift and indication that tapering is on the horizon, along with two interest rate hikes in 2023. Higher dot plot predictions alongside revised inflation and economic projections have slightly jolted markets. In general markets are reacting to employment and inflation more than other market drivers and risk appetite today appears subdued, [..]

Daily Market Comment – Fed aftershock deepens in equities but dollar pauses for breath

Posted on June 21, 2021 at 9:09 am GMT

Fed’s normally dovish Bullard sees 2022 rate hike, Wall Street crumbles Rout stretches on but dollar rally eases, gold catches a bid Markets dreading key Fed speakers this week including Powell US yield curve flattens, roils markets The US yield curve flattened further on Monday as investors continued to adjust their rate hike bets, steepening the short end of the curve while pushing long-term borrowing costs sharply lower. Markets are still coming to terms with last week’s FOMC bombshell when [..]

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