All Articles Tagged - US500cash

Daily Market Comment – Dollar slides ahead of US GDP data, BoC signals likely pause

Posted on January 26, 2023 at 9:20 am GMT

Dollar continues to slide on Fed pivot bets US GDP numbers for Q4 enter the limelight More ECB hawks flap their wings Loonie slides as BoC says it will likely stop raising rates BoC pause adds to bets that the Fed will follow suit The US dollar traded lower against all but two of the other major currencies on Wednesday, with the exceptions being the Canadian and New Zealand dollars. With no major US data to drive the US dollar, [..]

US debt ceiling matters this time, here’s why – Special Report

Posted on January 25, 2023 at 1:59 pm GMT

Another debt ceiling crisis is brewing in the United States. Past episodes were met with apathy from investors – everyone knows this is mostly political theater, and a solution will ultimately be reached. But this time might be different. This debate has serious implications about market liquidity, so the outcome matters for stock markets. The plot twist is that a deal might be ‘bad news’ for equities. Same old movie Another debt ceiling standoff is upon us. The US reached [..]

Daily Market Comment – US business activity shrinks, BoC decision up next

Posted on January 25, 2023 at 9:15 am GMT

US continues to contract while Eurozone returns to growth Aussie gains on accelerating inflation BoC expected to deliver one last hike Wall Street ends mixed, awaits more earnings results PMIs confirm divergence between ECB and Fed interest rate bets Although euro traders were not overly impressed by yesterday’s preliminary PMI data suggesting that the Eurozone returned to growth in January, the contrast to the US numbers that came out later in the day may have allowed euro/dollar to stay in [..]

Technical Analysis – US 500 index fights for a bullish breakout

Posted on January 23, 2023 at 4:53 pm GMT

The US 500 stock index (cash) drifted higher after stepping on the 50% Fibonacci retracement of the 4,325-3,489 downleg at 3,900 and the shorter-term simple moving averages (SMAs). The one-year-old resistance trendline that rejected the bulls for the fifth time last week is under the spotlight again at 3,974 as the price is stubbornly fighting for a close above it. The RSI and the MACD are fluctuating within the positive area, keeping the odds in favor of the bulls. Hence, [..]

What does China’s reopening mean for the global economy? – Special Report

Posted on January 20, 2023 at 11:08 am GMT

After nearly three years of being cut off from the rest of the world, China has finally lifted most of its strict COVID-related restrictions, with the latest development being the reopening of its borders on January 8. Since December, when the first reopening announcements were made, financial markets have periodically cheered the prospect of the reopening boosting global growth, while on other occasions, they reflected concerns about the spreading of new COVID variants to the rest of the world. So, [..]

Daily Market Comment – Dollar subdued, euro rebounds, yen retreats

Posted on January 20, 2023 at 9:02 am GMT

Dollar trades lower even as initial jobless claims beat estimates Euro rebounds after Lagarde appears hawkish Yen retreats, but stays in broader uptrend Wall Street records another day of losses Dollar unimpressed by slide in jobless claims The US dollar finished Thursday lower against most of the other major currencies, gaining only versus the risk-linked aussie and kiwi. Today, the greenback is losing against all except the yen and the pound. It seems that investors are still trying to estimate [..]

Daily Market Comment – US data disappoints, yen stages comeback

Posted on January 19, 2023 at 9:13 am GMT

US data revive recession fears, add to pivot view Yen recovers post-BoJ losses, stays in uptrend Euro awaits ECB minutes and Lagarde’s speech S&P 500 comes under pressure after testing key downtrend line Weak data add credence to Fed pivot hypothesis The US dollar finished Wednesday mixed against the other major currencies and continued in a similar fashion today. It is trading higher against the risk-linked aussie and kiwi, while it is down against the yen. Against the rest, the [..]

Daily Market Comment – Yen tumbles on BoJ decision, US data enters the limelight

Posted on January 18, 2023 at 9:19 am GMT

Yen falls as BoJ defies bets for more policy tweaks US retail sales and PPI data the dollar’s next test Wall Street at the mercy of data and earnings Yen tumbles as BoJ keeps yield control policy untouched The protagonist in the first chapter of today’s FX episode is the Japanese yen, which came under strong selling interest after the Bank of Japan stuck to its ultra-loose monetary policy, disappointing expectations that it could further tweak its yield curve control [..]

Daily Market Comment – Yen, gold, and stock markets power higher

Posted on January 16, 2023 at 9:29 am GMT

Yen goes on a rampage ahead of crucial BoJ decision this week Gold hits new highs, driven by Fed speculation and softer dollar Euphoria engulfs markets as stocks, crypto, and risk-linked FX gain Yen soars ahead of BoJ After sinking to the depths of Hades last year, the Japanese yen has staged a spectacular comeback. It is currently tied with the Australian dollar as the best-performing major currency this year, capitalizing on a perfect storm of narrowing interest rate differentials, [..]

Daily Market Comment – Dollar extends slide as US inflation cools further

Posted on January 13, 2023 at 9:33 am GMT

US inflation cools further, declines in monthly terms Dollar slides on Fed-pivot trade Yen and euro the main gainers against greenback Equities extend recovery, earnings season begins Dollar takes another hit from the US inflation data The US dollar slid against all the other currencies on Thursday, with the main gainers being the yen and the euro. Once again, the US inflation data proved to be the greenback’s biggest nightmare. Both the headline and core CPI rates for December declined [..]

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