All Articles Tagged - US500

Daily Market Comment – Fed’s ‘hawkish’ cut propels dollar higher; BoE next

Posted on August 1, 2019 at 8:03 am GMT

Fed cuts by 25bp, but appears hesitant to commit to more Dollar soars to two-year high versus euro, may have more room to gain for now BoE likely to adopt a more dovish tone at today’s meeting Stocks retreat after Fed, despite “constructive” trade talks Not-so-dovish Fed sends dollar soaring As expected, the Federal Reserve cut rates by 25 basis points (bp) yesterday, citing global growth and trade uncertainties coupled with muted inflation pressures as the driving forces behind the [..]

Daily Market Comment – Fed rate decision dominates a busy agenda

Posted on July 31, 2019 at 7:42 am GMT

Dollar may gain briefly if Fed only cuts rates by 25bp today Stocks feel the heat as Trump cranks up the trade rhetoric Flurry of key data due out of the Eurozone, US, and Canada Fed meeting: One cut at a time The main event for today will be the FOMC rate decision at 18:00 GMT, which will be followed by a press conference from Chairman Powell. The central bank is virtually certain to slash rates, so the real question [..]

Daily Market Comment – Sterling pummeled by Brexit blues

Posted on July 30, 2019 at 7:50 am GMT

Sterling crumbles as no-deal rhetoric heats up – outlook still negative Bank of Japan takes no action, yen likes it German and US data due; trade talks resume Pound collapses as Boris plays ‘chicken’ with EU There’s no reprieve for the wounded British pound, which fell to a fresh 2½-year low against the dollar earlier today, following another round of worrisome Brexit rhetoric. Boris Johnson and his lieutenants reiterated that the Irish backstop is “dead”, with Foreign Secretary Raab saying [..]

Technical Analysis – US500 Index retests and pushes through previous all-time high

Posted on July 25, 2019 at 2:24 pm GMT

US 500 stock index after retreating last week, began a sure but steady move to revisit the all-time high of 3019, and currently is climbing above it. The price found support at the Tenkan-sen average, and the moving averages are headed higher holding the price above them. The momentum indicators suggest a quick reload necessary for the jump ahead, as the MACD is nearing a cross above the trigger in the positive region, whilst the RSI is slightly pointing up [..]

Daily Market Comment – Euro skids lower ahead of ECB; pound lifted by Johnson spending pledge

Posted on July 25, 2019 at 8:10 am GMT

Euro struggles near two-month lows as ECB decision is awaited Pound bounces higher after new prime minister signals big spending increases US dollar clings onto gains as Wall Street hits another record and trade talks make headway Euro mired by Eurozone doom and gloom Following yesterday’s poor Eurozone PMI readings, there was little support for the European common currency on Thursday as investors anxiously awaited the outcome of the European Central Bank’s monetary policy meeting later today. The euro was [..]

Daily Market Comment – Euro area PMIs disappoint; Dollar powers through competition

Posted on July 24, 2019 at 8:10 am GMT

Euro area PMIs disappoint, raising bets for a dovish ECB tomorrow US dollar outperforms, without any clear catalyst Euro/franc falls below 1.10 – will the SNB intervene soon? Euro slips as disappointing PMIs fuel ECB bets Preliminary PMI data out of France and Germany for June have just been released, and were disappointing overall. While the service sector numbers were more or less in line with forecasts, the manufacturing figures fell substantially, with the French print touching the neutral 50 [..]

Daily Market Comment – Dollar sails higher; Boris becomes Prime Minister

Posted on July 23, 2019 at 7:48 am GMT

Dollar advances on US debt ceiling accord; may have more room to climb Boris Johnson to become new UK Prime Minister – watch his Cabinet picks Loonie and kiwi lose ground, earnings season fires up Greenback catches a bid after US debt ceiling deal Market moves were relatively subdued on Monday, with most major currency pairs trading in narrow ranges, without much in the way of news flow to guide the price action. Things became more interesting overnight though, after [..]

Daily Market Comment – Iran tensions rattle stocks, boost oil

Posted on July 22, 2019 at 7:47 am GMT

Stocks pull back, oil climbs as Iran escalates tensions with UK Dollar outperforms after Fed’s Bullard downplays prospect of ‘double’ cut Big week for euro, with a crucial ECB meeting on Thursday US equities retreat, oil rebounds after Iran seizes British ship Geopolitical headlines rattled markets late on Friday, with the benchmark S&P 500 (-0.62%) closing in the red after Iran seized a British oil tanker in the Strait of Hormuz, escalating hostilities with London to a new level. Oil [..]

Daily Market Comment – Cautious Fed remarks take the wheels off dollar

Posted on July 19, 2019 at 7:40 am GMT

Dovish remarks by key Fed officials push greenback lower WTI crude oil at four-week low amid mixed signals in US-Iran conflict Canadian retail sales and more Fed-speak dominate the agenda today Fed’s Williams argues for preventive easing, sends dollar reeling The greenback continues to attract all the attention, after two influential Fed officials fueled market expectations for an aggressive 50 basis points (bp) rate cut at the upcoming policy meeting. The move started after New York Fed President Williams [..]

Daily Market Comment – Pullback in dollar lifts all boats; risk aversion creeps back

Posted on July 18, 2019 at 8:00 am GMT

Dollar retreats as trade concerns fuel Fed rate cut bets Stocks drop, safe havens gain amid risk aversion Aussie climbs after employment data UK retail sales due as pound recovers some losses Dollar grinds lower as July rate cut bets mount The world’s reserve currency retreated almost across the board on Wednesday and continues to surrender ground today, falling in tandem with longer-term US interest rates as worrisome trade signals prompted traders to boost bets for aggressive Fed rate cuts. [..]

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