All Articles Tagged - US500cash

Can equities keep ignoring downside risks? – Stock Markets

Posted on September 6, 2023 at 1:36 pm GMT

Major US stock indices have rallied hard in 2023, with the Nasdaq 100 and S&P 500 gaining around 33% and 17% year-to-date, respectively. Surprisingly, this stellar performance has come in a period of rising interest rates, slowing economic growth and declining corporate earnings. As major economies are starting to feel the lagging effect of high interest rates, which is casting shadows over the global economic growth outlook, will the stock market rally start to fizzle out? Equity analysts seem way [..]

Market Comment – Falling yen draws intervention warning, ISM non-mfg PMI in focus

Posted on September 6, 2023 at 8:19 am GMT

Yen hits 10-month low, triggers intervention warning Dollar traders turn attention to ISM non-mfg PMI Equities pull back, but stay in an uptrend mode BoC expected to stand pat, focus to turn on guidance Japanese official warns as dollar/yen gets closer to 148 The US dollar traded higher against all the other major currencies on Tuesday, perhaps as increasing concerns about the performance of the Chinese economy after the disappointing Caixin services PMI resulted in a flight to safety. The [..]

Market Comment – Yen suffers another blow as yields fire up

Posted on September 5, 2023 at 8:40 am GMT

Dollar shines, yen slides as US bond yields power higher China optimism melts away after disappointing PMI data Aussie dollar crumbles, gold tests crucial support zone Dollar/yen follows yields higher The US dollar resumed its march higher on Tuesday, receiving fuel from interest rate differentials and safe haven flows. Bond market players have started to push US yields higher once again, enhancing the dollar’s interest rate advantage, while some disappointing business surveys from China pushed investors into the safety of [..]

Technical Analysis – US 500 attempts to revisit 2023 highs

Posted on September 4, 2023 at 12:03 pm GMT

The US 500 stock index (cash) had been undergoing a pullback after marching to a fresh 16-month high of 4,606 on July 27. However, the index managed to find its footing at 4,342, which is the 23.6% Fibonacci retracement of the 3,486-4,606 upleg, and storm back higher towards its recent peaks. The short-term oscillators currently suggest that bullish forces are intensifying. Specifically, the MACD is strengthening above zero and its red signal line, while the RSI is advancing steadily above its 50-neutral mark. [..]

What’s behind Nasdaq’s first monthly loss in 6 months? – Stock Markets

Posted on August 30, 2023 at 2:12 pm GMT

As the Q2 earnings season draws to an end and market participants are digesting the Fed’s updated view on the interest rate trajectory and inflation outlook, major US indices are heading for their first monthly loss in six months. Nvidia’s upbeat earnings solidified the view that Artificial Intelligence (AI) is currently the biggest growth lever in the economy, but that did not manage to prevent the Nasdaq from forming a red monthly candlestick. Is the year-to-date stock market rally starting to fizzle out? Earnings fail to impress The last few weeks [..]

Market Comment – Dollar falls as US data reinforce Fed pause case

Posted on August 30, 2023 at 8:36 am GMT

Dollar slides as job openings drop to a 2-1/2 year low ADP report and 2nd estimate of US GDP on today’s agenda Euro awaits German CPIs ahead of Eurozone inflation numbers Wall Street extends gains, Nasdaq the big winner Weak job openings push dollar and yields lower The US dollar tumbled against all the other major currencies on Tuesday and Treasury yields extended their retreat after data showed that job openings in the US fell in July and that consumer [..]

Market Comment – Dollar pulls back ahead of key US data

Posted on August 29, 2023 at 8:32 am GMT

Dollar traders turn cautious ahead of important data Yen stays pressured as yield differentials stay in the spotlight Wall Street records gains as Powell refrains from committing to more hikes Traders await key US data, Friday’s NFP the highlight The dollar pulled back against most of the other major currencies on Monday, extending gains only against the Japanese yen. Today, the greenback is trading lower or unchanged. Following the balanced remarks by Fed Chair Powell at Jackson Hole, who left [..]

Technical Analysis – US 500 gets rejected by 50-day SMA

Posted on August 28, 2023 at 2:30 pm GMT

The US 500 stock index (cash) had been undergoing a pullback after marching to a fresh 16-month high of 4,606 on July 27. Even though the price managed to rebound at 4,342, which is the 23.6% Fibonacci retracement of the 3,486-4,606 upleg, its upside got capped by the 50-day simple moving average (SMA). The short-term oscillators currently suggest that bullish forces are strengthening but have not taken control yet. Specifically, the MACD is gaining ground but remains below zero and its [..]

Market Comment – Dollar powers higher heading into Jackson Hole

Posted on August 25, 2023 at 8:29 am GMT

Traders play defense ahead of Powell’s speech at Jackson Hole Dollar benefits from risk aversion as stocks reverse lower Euro extends losses, Lagarde unlikely to offer helping hand Markets nervous ahead of Powell A sense of nervousness has returned to global markets. Traders seem to be playing some defense, reducing leverage and trimming their risk exposure ahead of Chairman Powell’s keynote speech at the Jackson Hole economic symposium today at 14:00 GMT. This venue has been used in the past [..]

Market Comment – Gold and tech stocks receive boost from weak PMI data

Posted on August 24, 2023 at 8:40 am GMT

Global bond yields plummet after disappointing business surveys Gold and stocks capitalize, Nvidia earnings add fuel to Nasdaq rally Major FX pairs swing violently, Japanese yen comes out on top Soft PMIs highlight global slowdown It was an electrifying trading session in financial markets, after a round of disappointing business surveys from the major economies cemented the notion that the days of central bank tightening are numbered. In a nutshell, global economic momentum is evaporating and Europe is at the [..]

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