All Articles Tagged - US500cash

Daily Market Comment – Dollar rallies as Powell appears in a hawkish suit

Posted on March 8, 2023 at 8:40 am GMT

Fed Chair Powell stresses the need for higher rates Dollar rallies across the board, as Fed hike bets surge BoC is widely anticipated to stand pat today Wall Street feels the heat of Powell’s hawkish remarks Powell opens the door to higher and faster rate hikes The US dollar outperformed every other major currency on Tuesday and continued to gain against most of them today as well. The person responsible for the dollar’s rally was Fed Chair Jerome Powell, who [..]

Daily Market Comment – Dollar loses steam ahead of Powell’s testimony

Posted on March 7, 2023 at 9:52 am GMT

Fed chief testifies before Congress, investors focused on his tone Aussie slides after cautious RBA rate hike, yen ignores softer data Stock markets little changed, waiting for Fed signals and US payrolls Powell appears before Congress The spotlight today will fall on Fed Chairman Powell, who will testify before the Senate Banking Committee at 15:00 GMT. Investors usually pay more attention to the Q&A session with lawmakers, where the Fed chief will face a grilling on the outlook for inflation [..]

Daily Market Comment – Gold and stocks recover as US yields cool off

Posted on March 6, 2023 at 9:58 am GMT

Gold and equities bounce back, capitalizing on retreat in US rates Dollar drifts lower despite strong data, pressured by cheerful mood Massive week lies ahead with three central banks and US payrolls Stocks ride bond waves Investors entered the new trading week in high spirits, as a calmer tone in bond markets helped to brighten the mood in other asset classes. Equity markets and gold prices enjoyed a huge rally on Friday and attempted to extend those gains on Monday, [..]

Daily Market Comment – Dollar slides on Chinese data, euro awaits inflation numbers

Posted on March 2, 2023 at 9:25 am GMT

Dollar slips as Chinese PMIs spark risk-on mood But pares losses after ISM manufacturing PMI data Euro traders await Eurozone inflation numbers Rising Fed hike bets hurt Wall Street Dollar drops on China PMIs, but Fed hike bets increase on ISM PMI The US dollar traded lower or unchanged on Wednesday, losing the most ground against the kiwi, the euro and the aussie in that order. Today, it is in a recovery mode against all the other majors. The greenback [..]

Technical Analysis – US 500 plummets but 200-day SMA curbs decline

Posted on February 28, 2023 at 12:45 pm GMT

The US 500 stock index (cash) staged a massive rebound after posting a fresh 23-month low of 3,490 in October. However, the index has experienced a moderate downside correction in the short term, with the retreat coming to a halt at the 200-day simple moving average (SMA). The short-term oscillators currently suggest that the bearish forces are strengthening. Specifically, the RSI is flatlining beneath its 50-neutral mark, while the MACD histogram has dropped below both zero and its red signal line. If selling pressures intensify, immediate support [..]

Daily Market Comment – Yen slips on cautious Bank of Japan signals

Posted on February 24, 2023 at 10:24 am GMT

Yen retreats after incoming BoJ Governor strikes cautious tone Dollar grinds higher, pushing gold to lowest levels of 2023 Stock markets close in the green, Nvidia does the heavy lifting Yen feels the BoJ blues The yen absorbed some damage on Friday, in the aftermath of the latest inflation report and some remarks by incoming Bank of Japan Governor Kazuo Ueda. Inflation continued to fire up in January, yet the Japanese currency did not manage to capitalize as Ueda downplayed [..]

Daily Market Comment – Dollar stays strong after Fed minutes, yen awaits Ueda

Posted on February 23, 2023 at 8:53 am GMT

Fed minutes show that almost all officials backed 25bps hike Dollar strengthens as they remain willing to adjust as necessary Yen traders await Ueda’s first speech after his nomination Dollar gains more as Fed hike bets remain elevated The US dollar continued trading higher against most of the other major currencies on Wednesday, but today it is pulling back. The minutes of the latest FOMC meeting allowed investors to keep bets with regards to the future path of US interest [..]

Daily Market Comment – Dollar creeps higher, stocks retreat as caution kicks in

Posted on February 21, 2023 at 10:05 am GMT

Dollar advances against risk-linked currencies, helped by rising yields Stocks retreat, investors face ‘reality check’ on expensive valuations European PMIs point to fading recession risks, RBNZ decision next Dollar gains as risk appetite sours A theme of dollar strength is coursing through the FX market, driven by the relentless advance in short-term US yields and the cautious tone in equity markets. Expectations around Fed policy underwent a massive repricing lately, after a string of encouraging US data releases convinced investors [..]

Daily Market Comment – Mounting Fed bets cannot propel dollar higher

Posted on February 20, 2023 at 10:05 am GMT

Dollar unable to capitalize on ‘higher for longer’ Fed bets Yen and gold feel the heat of rising US yields instead Stocks remain resilient, but risk/reward is unattractive Dollar lethargic despite Fed speculation A series of powerful US economic data releases this month dispelled concerns about an economic slowdown, engineering a massive repricing of Fed policy. Incoming data revealed the labor market is still booming, consumer demand is resilient, and inflationary pressures are not abating fast enough – fueling speculation [..]

Daily Market Comment – Data and Fed officials take the dollar higher

Posted on February 17, 2023 at 9:08 am GMT

US producer prices accelerate, initial jobless claims slide Fed’s Mester and Bullard appear in their hawkish suits Dollar extends gain, Wall Street slides as Fed hike bets grow Accelerating PPIs and sliding jobless claims add to Fed hike bets The US dollar continued flexing its muscles, outperforming almost all the other major currencies yesterday and accelerating its advance today. What encouraged dollar traders to add to their long positions may have been another round of data releases supporting more hikes [..]

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