All Articles Tagged - US500

Daily Market Comment – Dollar gets sidetracked as BoC joins RBA’s hawkish tilt

Posted on June 8, 2023 at 8:46 am GMT

BoC delivers second surprise hike of the week, aussie and loonie shine Markets forced to reassess their understanding of a ‘pause’ Dollar slips amid confusion over Fed policy, tech rally hit by un-pause fears Markets rattled by renewed higher-for-longer push The Bank of Canada became the second central bank to hike interest rates this week, joining Australia’s Reserve Bank in upping the battle against persistently high inflation. More significantly, Wednesday’s 25-basis-point hike marked an end to the Bank of Canada’s [..]

AI mania takes over Wall Street; is this a new bubble? – Stock Market News

Posted on June 1, 2023 at 12:33 pm GMT

Tech stocks are racing higher again, leaving all other sectors trailing far behind. However, it’s a bit different this time as it is no longer a broad rally in everything that is tech. This particular upswing is a lot narrower and is being driven by the buzz in artificial intelligence (AI), with anything AI-related getting caught up in the excitement. But with many AI stocks already notching up year-to-date gains of more than 100%, how sustainable is this rally? Riding [..]

Daily Market Comment – Dollar pauses for breath ahead of inflation data, tech rally eases

Posted on May 26, 2023 at 9:20 am GMT

Fed rate cut bets continue to be priced out, all eyes on core PCE inflation US dollar softer today but still headed for third weekly gain Debt deal progress and AI buzz lift Wall Street, global equities Fed rate cut bets pushed back as summer hike seen certain The US dollar eased off two-month highs on Friday as the three-week rally paused for breath amid the sharp repricing of the Fed’s rate path. Treasury yields also cooled off as investors [..]

Daily Market Comment – Markets calm but nervous as debt ceiling and Fed drama drag on

Posted on May 23, 2023 at 9:04 am GMT

Biden-McCarthy talks end with no deal but both sides remain hopeful Stocks subdued but dollar edges up as Fed rhetoric stays on the hawkish side Euro slips as mixed PMIs unable to lend much support No breakthrough yet in debt ceiling talks Pressure is building in Washington as there is yet to be any major breakthrough in the negotiations to reach an agreement on raising the US debt ceiling. While both President Biden and House Speaker Kevin McCarthy have reiterated [..]

Daily Market Comment – Powell talks pause but debt ceiling uncertainty weighs on sentiment

Posted on May 22, 2023 at 9:46 am GMT

Powell signals Fed may be done raising rates, pushing June hike odds into reverse Dollar takes a tumble but quickly finds its footing Stocks also struggle amid ongoing debt ceiling drama as clock keeps ticking Powell takes over pause debate, sides with the doves Fed Chair Jerome Powell waded into the policy debate on Friday, adding his much-anticipated view on whether or not the time has come to press the pause button on rate increases. It comes after a week-long [..]

Technical Analysis – US 500 index rises after another bounce off 50-day SMA

Posted on May 8, 2023 at 9:59 am GMT

The US 500 (cash) index added more than 2% on Friday after another rebound off the 4,050 support level and the 50-day simple moving average (SMA). The index has been moving sideways since March 31 with the technical oscillator mirroring the latest price action. The RSI is flattening above the 50 level, while the MACD is falling beneath its trigger line in the positive area. Should the pair manage to strengthen its positive momentum, the next resistance could come around [..]

Daily Market Comment – Dollar can’t catch a break despite solid NFP as CPI eyed

Posted on May 8, 2023 at 9:26 am GMT

US dollar stays on the backfoot even as jobless rate unexpectedly dips in April Fed rate cut bets still elevated; will inflation data alter anything? US bank stocks rebound but worries persist, debt ceiling standoff adds to jitters Markets unfazed by strong US jobs report It was another allrounder strong payrolls report on Friday as the US economy added an impressive 253k jobs in April, beating the consensus forecasts. More significantly, the unemployment rate unexpectedly edged lower to a five-decade [..]

Daily Market Comment – Yen sinks after BoJ leaves policy unchanged, dollar shrugs off GDP miss

Posted on April 28, 2023 at 9:24 am GMT

BoJ tweaks guidance but long review dampens bets of near-term policy overhaul Yen tumbles, adding to dollar’s upside after core PCE deflator accelerates in Q1 Strong earnings lift Wall Street despite ongoing recession risks Ueda saves the big guns for another day The Bank of Japan kept its monetary policy settings mostly unchanged on Friday, deciding not to rattle the markets on Governor Kazuo Ueda’s first chairing of the meeting. The decision was widely expected as it was well telegraphed [..]

Daily Market Comment – Dollar and stocks struggle amid anxious calm before the storm

Posted on April 25, 2023 at 9:17 am GMT

Tech earnings and US data awaited for direction as outlook remains clouded Lingering uncertainties drag US yields and the dollar lower; debt ceiling in focus Yen firms slightly after Ueda opens the door to future policy tightening Markets turn tense in wait-and-see mode Stocks slid on Tuesday while the US dollar crawled above fresh lows as investor anxiety was running high following a tense session on Monday amid a number of uncertainties weighing on the markets. Investors remain none the [..]

Daily Market Comment – China GDP rebound adds some cheer, dollar slips but stocks waver

Posted on April 18, 2023 at 9:03 am GMT

Strong Chinese GDP data calms but does not quell fears about growth Asian stocks mixed, European shares climb, higher yields weigh on Wall Street Dollar off highs, pound and aussie lifted by UK jobs data, hawkish RBA minutes Is China’s economy back on track? The economic recovery in China appears to be gaining tract as GDP expanded by a stronger-than-expected 4.5% in the first quarter of 2023, beating forecasts of 4.0%. At a quarterly level, growth quickened to 2.2% from [..]

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