All Articles Tagged - US500cash

Technical Analysis – Is the US 500 cash index at the start of a new uptrend?

Posted on November 3, 2023 at 9:47 am GMT

US 500 cash index trades sideways today after strong rally Impressive weekly rebound amidst key market events Momentum indicators cautiously supportive of current upleg The US 500 cash index is trying to record its fifth consecutive green candle and further increase the 5% jump recorded this week. It is now preparing to test the resistance set by the long-term October 13, 2022 ascending trendline. Despite the current rally, the bearish series of lower highs and lower lows remains firmly in [..]

Market Comment – Investors lock gaze on US NFP data

Posted on November 3, 2023 at 9:00 am GMT

Dollar slides as Fed pours more cold water on hike expectations Spotlight turns to US employment report for October Pound receives little boost from BoE’s hawkish hold Wall Street cheers potential interest rate peak, earnings help Dollar on the back foot ahead of NFP report The US dollar traded lower against all the other major currencies on Thursday, weighed down by the Fed’s decision on Wednesday to keep interest rates untouched, while pouring more cold water on expectations of one [..]

Market Comment – Yen sinks as Fed enters the spotlight

Posted on November 1, 2023 at 9:29 am GMT

Yen nears October 2022 lows against dollar on BoJ disappointment Will a hawkish Fed trigger a yen intervention episode? Gold, oil retreat as Middle East fears ease Wall Street closes in the green ahead of Fed decision Dollar/yen defies gravity after BoJ decision The dollar traded higher against all the other major currencies on Tuesday, gaining the most ground against the yen. The Japanese currency came under massive selling interest after the Bank of Japan disappointed those expecting bold changes [..]

Market Comment – Gold stands tall, stocks keep sinking despite solid US data

Posted on October 27, 2023 at 8:57 am GMT

Upside surprise in US GDP was not enough to boost the dollar Stock markets slide in the aftermath, euro little changed after ECB Gold advances, drawing fuel from yields and geopolitical escalation Dollar unable to gain on solid data Another stormy week for global markets comes to an end as investors continue to grapple with a range of risk factors, from a lukewarm earnings season to the heightened volatility in bond markets to the unfolding geopolitical crisis. On the bright [..]

Market Comment – Better-than-expected US PMIs help the dollar rebound

Posted on October 25, 2023 at 8:13 am GMT

PMIs suggest the US economy entered Q4 on solid footing The divergence between US/Eurozone outlooks weighs on euro/dollar Aussie rallies on stickier inflation, yen pinned near 150-per-dollar mark Wall Street pays attention to corporate earnings Euro/dollar slides from near key resistance on PMI data Although the 10-year US Treasury yield held steady comfortably below the psychological zone of 5%, the US dollar was able to stage a comeback against most of its major counterparts as the flash US PMIs for [..]

Market Comment – Dollar retreats, stocks stabilize as yields fall back

Posted on October 24, 2023 at 8:53 am GMT

Dollar follows US yields lower after rejection from 5% region But gold and yen cannot take advantage of this correction Euro rebound cut short by disappointing business surveys Retreat in yields slams dollar Global markets breathed a sigh of relief yesterday, as the furious rally in US yields finally lost some steam. The yield on the 10-year Treasury briefly topped the 5.0% region – sending shivers down the spine of riskier assets such as equities – but got rejected and [..]

Technical Analysis – Will the US 500 index put brakes to the bearish storm?

Posted on October 19, 2023 at 11:39 am GMT

The US 500 index follows a short-term negative path Approaches key support area. Will the bulls take control? The US 500 stock index (cash) is probably set for another bearish round on Thursday as the technical signals remain gloomy. The RSI has fallen back below 50 and the stochastic oscillator is not yet at its oversold level of 20, indicating that sellers still have momentum. In other discouraging signs, the shorter- and longer-term simple moving averages (SMAs) have negatively [..]

Market Comment – Investors add to Fed hike bets after solid US retail sales

Posted on October 18, 2023 at 8:34 am GMT

US retail sales rise more than expected, bolster Fed hike case Pound slides on slowing wages, rebounds on sticky inflation Aussie and kiwi aided by China’s GDP beat; loonie supported by higher oil prices Wall Street ends mixed; gold extends gains on safe-haven flows Dollar receives support, yields surge on US retail sales beat The US dollar traded mixed against the other major currencies on Tuesday, gaining against the pound, the yen, and the kiwi, but losing ground versus the [..]

Market Comment – Gold and oil surge as Middle East conflict intensifies

Posted on October 16, 2023 at 8:43 am GMT

Gold surges as Israel carries ground operations inside Gaza Geopolitics and Harker weigh on Fed rate hike expectations Oil rallies as fears of supply disruptions due to the war heighten S&P 500 and Nasdaq slip as geopolitics offset strong earnings results Gold shines as Israel-Hamas tensions flare up Gold surged more than 3% on Friday as the escalating conflict between Israel and Hamas forced market participants to seek safety. On Friday, Israel’s infantry carried out raids inside the Gaza Strip, [..]

Market Comment – Dollar extends slide on more dovish Fed remarks

Posted on October 11, 2023 at 8:14 am GMT

Fed’s Bostic and Kashkari join the ‘no more hikes needed’ camp PPIs and Fed minutes on tap ahead of tomorrow’s CPIs Aussie and kiwi helped by China stimulus reports Wall Street rebounds as Fed hike probability falls Fed dovish chorus grows louder The US dollar continued drifting lower against most of the other major currencies on Tuesday, as several Fed officials appeared in their dovish suits this week, signaling that they may not need to tighten as much as initially [..]

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