All Articles Tagged - US500cash

Technical Analysis – US 500 index reclaims 4,500, threatening September highs

Posted on November 20, 2023 at 10:23 am GMT

US 500 stock index posts fresh 2½ -month high But advance seems to be taking a breather Momentum indicators approach their overbought zones The US 500 stock index (cash) has been staging an aggressive rally since it bottomed out in late October, piercing through the descending trendline that connects its recent lower highs. However, the uptrend appears to be on hold in the last few sessions as the short-term oscillators have approached overbought levels. Should buyers attempt to push the price higher, immediate resistance could be found [..]

Technical Analysis – US 500 index snaps downtrend

Posted on November 15, 2023 at 9:19 am GMT

The US 500 index breaks downtrend after amazing rally Short-term bias bullish, but overbought conditions evident The US 500 stock index (cash) enjoyed its fastest daily rally (+2%) in a year on Tuesday, successfully scraping off the aggressive sell-off that started on September 15th to trade around 4,500 again. The latest bullish explosion indicates that the price will continue to rise as it is significantly above the descending trendline from July and its simple moving averages. Yet, the overbought signals coming from [..]

Market Comment – Yen hits fresh low as focus turns to US CPI data

Posted on November 14, 2023 at 9:33 am GMT

Yen spikes, but ends Monday as the main loser Dollar traders lock gaze on US inflation data UK jobs report beats estimates, CPIs the pound’s next test Wall Street ends mixed, awaits US CPI figures Dollar/yen nearly touches October 2022 high The US dollar traded mixed against its major counterparts on Monday, losing ground against the pound, the aussie, and the euro, while gaining the most against the yen. Dollar/yen continued drifting north during most of the day, almost touching [..]

Market Comment – Yen continues to sink, stock markets power higher

Posted on November 13, 2023 at 9:40 am GMT

Yen falls to lowest levels in a year as stock markets soar Dollar mostly ignores Moody’s credit outlook downgrade Gold nurses losses, waiting for tomorrow’s US inflation stats Yen drifts lower It’s been another devastating year for the Japanese yen, which has lost nearly 14% of its value against the US dollar so far, crumbling under the weight of interest rate differentials. The yen has now fallen back to the levels that forced Tokyo to intervene in the FX market [..]

Market Comment – Fed chief interrupts stock market rally, lifts dollar

Posted on November 10, 2023 at 10:03 am GMT

Fed chief Powell says ‘won’t hesitate’ to tighten further Dollar extends recovery as US yields rise, pushing equities down Gold gains despite unfavorable setup – central bank purchases? Dollar gets a boost by hawkish Powell Federal Reserve officials have been out in droves this week, highlighting the extraordinary strength of the US economy and stressing that interest rates might need to be raised further to bring inflation back under control. It appeared like a coordinated attempt by policymakers to steer [..]

Market Comment – Dollar stays strong despite sliding Treasury yields

Posted on November 9, 2023 at 10:25 am GMT

Dollar extends recovery above 151-yen level But long-dated Treasury yields slip further China’s woes dent sentiment in Asia Oil and gold extend their slides Dollar stands tall even as long-dated yields extend slide The dollar continued gaining ground against most of its major peers on Thursday, breaking back above the 151 level against the yen and adding to the risks of intervention, even as a former BoJ official said he thinks the Bank should end its negative interest rate policy [..]

Technical Analysis – Next leg in US 500 cash index could be critical

Posted on November 9, 2023 at 8:15 am GMT

US 500 cash index trades sideways after recent upleg Strong rebound from late-October lows amidst key market events Mixed momentum indicators complicate the short-term outlook The US 500 cash index is trying to record a green candle today as it trades between the 50- and 100-day simple moving averages (SMAs). It currently stands around 7% higher than the October 27 low with the rally stopping, potentially temporarily, a tad below the previous peak recorded on October 12. Thus, the US [..]

Market Comment – Fed rhetoric further fuels the dollar

Posted on November 8, 2023 at 9:17 am GMT

Dollar extends recovery on Fed commentary But probability for another hike remains low Wall Street gains as Treasury yields slide Oil prices tumble on China woes and OPEC exports Fed officials keep additional hikes on the table The US dollar continued recovering against all the other major currencies on Tuesday as several Fed officials reminded investors that the door to further hikes remained open. Fed Governor Christopher Waller said yesterday that the 4.9% GDP growth rate for Q3 was a [..]

Could surprise indices explain market movements? – Special Report

Posted on November 7, 2023 at 1:23 pm GMT

Surprise indices are an easy way of mapping the current state of an economy Our index confirms that the US economy has been losing steam the past few weeks Could EURUSD moves be explained by our surprise indices? Theory states that the price of financial assets should reflect the underlying economic conditions in the respective region. While this tends to occur from a long-term perspective, a good chunk of the movements occurring in the short-term are dictated by sentiment and [..]

Market Comment – Dollar gets crushed after nonfarm payrolls miss

Posted on November 6, 2023 at 9:36 am GMT

Dollar pummeled after disappointing US employment data Stock markets rally, but gold fails to capitalize on falling yields Australian interest rate decision and Chinese trade data next Dollar hammered after NFP A disappointing US employment report inflicted some serious damage on the dollar last week. Nonfarm payrolls clocked in at 150k in October, missing the forecast of 180k, while the unemployment rate ticked higher and wage growth continued to cool off. Hence, the US labor market has started to loosen [..]

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