All Articles Tagged - US500cash

Daily Market Comment – Dollar extends fall as CPI data and Fed minutes corroborate pivot bets

Posted on April 13, 2023 at 7:45 am GMT

Headline CPI rate drops by a full percentage point, core ticks up Investors still expect another 25bps hike, but maintain rate cut bets Fed minutes reveal that some officials considered pausing Dollar slips as investors continue to see rate cuts later this year The US dollar extended its slide against all the other major currencies yesterday after the March CPI data revealed that headline inflation in the US slowed by more than anticipated and after the minutes from the latest [..]

Daily Market Comment – Dollar slides ahead of US inflation data and Fed minutes

Posted on April 12, 2023 at 7:32 am GMT

Dollar slides as traders seem reluctant to buy ahead of CPI figures Wall Street mixed ahead of today’s data, bank earnings on Friday Gold climbs back above $2,000 on the back of a weak dollar Bank of Canada decision also on tap US CPI numbers and FOMC minutes enter the spotlight The US dollar traded lower against almost all the other major currencies on Tuesday and continued to underperform on Wednesday as well. With no clear catalyst behind the weakness, [..]

Earnings season could expose cracks in the stock market – Stock Market News

Posted on April 6, 2023 at 8:31 am GMT

The first quarter earnings season will kick into high gear next week, with major US banks, as always, setting the tone. However, this time investors could pay even more attention to those results as the turmoil in the banking sector was responsible for a massive downshift in interest rate expectations. In general, earnings are set to contract for a second consecutive quarter, while valuations remain elevated and a recession is just around the corner. Equity markets defy earnings downgrades Major US [..]

Daily Market Comment – Dollar reclaims safe-haven status as recession fears intensify

Posted on April 6, 2023 at 7:59 am GMT

ISM non-manufacturing PMI disappoints, adding to downturn risks Dollar gains despite Treasury yields extending their slide Gold maintains ‘safe haven of choice’ status S&P 500 extends slide, but not enough to change the bigger picture Dollar takes safe-haven suit out of the closet The US dollar rebounded versus all but two of its major counterparts on Wednesday, losing ground against the Japanese yen and the New Zealand dollar, which continued to benefit from the RBNZ decision. The fact that the [..]

Daily Market Comment – Dollar extends slide as US job openings tumble

Posted on April 5, 2023 at 8:20 am GMT

US job openings fall to the lowest since May 2021 Wall Street slips as data revives recession fears Gold rallies above $2,000 as Fed pivot bets intensify New Zealand dollar rallies after RBNZ hikes by 50bps Dollar extends losses as speculation about Fed rate cuts increases The dollar extended its losses against most of its major peers on Tuesday, with traders becoming split on whether the Fed will deliver another 25bps hike at its May meeting or not. Following OPEC’s [..]

Daily Market Comment – Dollar slips, stocks climb after disappointing US data

Posted on April 4, 2023 at 8:51 am GMT

Contraction in US manufacturing emboldens bets for Fed cuts Dollar slides, stock markets rally with boost from energy shares RBA hits ‘stop’ button on rates, RBNZ decision coming up next Manufacturing woes Global markets are torn between different themes, with traders switching back and forth between inflation and recession risks depending on the latest round of data releases. The week started with the ghost of inflation returning to haunt investors after OPEC+ boosted oil prices, but the session closed with [..]

Technical Analysis – US 500 index recovers from banking breakdown

Posted on March 30, 2023 at 12:12 pm GMT

The US 500 stock index (cash) rose back above the 4,000 level yesterday, recouping the bearish breakdown caused by SVB’s collapse. The bulls gained extra positive momentum over the past couple of hours, deviating clearly above the support-turned-resistance trendline from October. Technically, that increases the odds for another extension to 4,070, where the 61.8% Fibonacci retracement of the 4,195-3,809 downtrend is placed. Not far above, the tentative descending trendline at 4,085 could be a make-or-break point. If the bulls breach that [..]

Daily Market Comment – Dollar trades mixed, awaits PCE inflation data

Posted on March 30, 2023 at 7:54 am GMT

Dollar trades mixed against the other majors PCE numbers and Fed speakers could reshape Fed bets Germany’s CPI data due out a day ahead of Eurozone’s inflation numbers Wall Street indices add more than 1% worth of gains each Dollar awaits the PCE inflation numbers for direction The dollar traded mixed against the other major currencies on Wednesday, finding it hard to assume a clear direction today as well. The dollar recovered some of its recent losses on Wednesday, as [..]

Daily Market Comment – Yen shines, dollar stalls as traders bet Fed is bluffing

Posted on March 24, 2023 at 10:16 am GMT

Speculation for Fed rate cuts intensifies, keeping dollar in slow gear Yen advances as yields edge lower, stock markets resume selloff European PMIs exceed forecasts, but euro gets smoked by bank risks Markets to Fed: We don’t believe you It has been a hectic week for global markets, with the underlying theme being a disbelief that the Federal Reserve will execute on its interest rate plans. Even though Fed Chairman Powell did his best to dispel speculation that rate cuts [..]

Daily Market Comment – Dollar slides as Fed hints at pause; BoE up next

Posted on March 23, 2023 at 9:18 am GMT

Fed hikes by 25bps, opens the door to a pause Dollar slides across the board Wall Street falls on Powell and Yellen remarks SNB delivers double hike, BoE to proceed with 25bps Dollar tumbles as Fed hints hikes are nearing end The dollar traded lower yesterday and continued falling today as, despite delivering another 25bps hike, the Fed hinted that it is on the verge of pausing due to the recent turbulence in the banking sector. Instead of noting that [..]

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