All Articles Tagged - US500cash

Daily Market Comment – Dollar extends slide; ECB and BoJ take center stage

Posted on October 27, 2022 at 8:34 am GMT

US dollar drops more on receding bets of Fed rate hikes Euro reclaims parity ahead of ECB decision BOJ expected to maintain ultra-loose strategy EU shares gain but Wall Street falls on disappointing earnings Dollar adds to losses as BoC shift adds to speculation of a Fed pivot The US dollar kept sliding yesterday on firmer views that the Fed will slow the pace of its interest rate hiking cycle. Following Tuesday’s disappointing data, market participants may have become more [..]

Daily Market Comment – Dollar slides and equities extend gains on bets for less hawkish Fed

Posted on October 26, 2022 at 8:30 am GMT

Dollar slides as US data disappoints Pound gains on Sunak’s pledges, Aussie up on CPIs Wall Street adds to gains on bets of slower Fed hike pace Dollar loses more ground on less aggressive Fed hopes The US dollar underperformed against all the other major currencies on Tuesday as weak data added to hopes that the Federal Reserve may need to slow its aggressive pace of interest rate hikes. US single-family house prices fell sharply for the second consecutive month [..]

Daily Market Comment – Chinese yuan hits record low, earnings season fires up

Posted on October 25, 2022 at 9:18 am GMT

China’s offshore yuan slides to new lows amid capital exodus Dollar retreats after soft business surveys, antipodeans struggle Stock markets run into resistance ahead of big tech earnings Escaping China Investor concerns around China’s economic trajectory reached a crescendo this week, hammering the offshore yuan down to new record lows as capital outflows escalated. With President Xi Jinping tightening his grip on power, the fear is that economic growth will become a second-tier priority, and policies such as draconian covid [..]

Daily Market Comment – Yen intervention fails, politics boosts sterling

Posted on October 24, 2022 at 9:17 am GMT

Japanese authorities suspected of stepping into FX market again Sterling climbs as Sunak takes political lead, Fed lifts Wall Street Euro unfazed after European PMIs, China shows signs of stress FX intervention Japanese authorities most likely conducted another operation in the currency market, deploying their vast firepower of FX reserves to shore up the sinking yen. Like a bolt out of the blue, the yen stormed higher last week and then again on Monday, with the moves being so sharp [..]

Technical Analysis – US 500 index bounces off 23-month low, downtrend intact

Posted on October 24, 2022 at 8:40 am GMT

The US 500 stock index (cash) has been constantly losing ground in the short term, recording consecutive fresh multi-month lows. Nevertheless, the price has managed to recoup some losses after rebounding from the 23-month low of 3,490. The short-term oscillators currently suggest that bullish forces are strengthening. Specifically, the RSI has jumped above its 50-neutral mark, while the MACD histogram is edging higher above its red signal line in the negative territory. Should buying pressures persist, the price could initially test 3,812, which is the 38.2% [..]

Daily Market Comment – Wall Street breaks winning streak as Treasury yields rise

Posted on October 20, 2022 at 8:36 am GMT

Rising Treasury yields weigh on stocks US dollar outperforms all the other majors Canadian inflation data beats forecast Wall Street in the red as yields hit fresh multi-year highs Wall Street closed in the red on Wednesday, breaking its two-day winning streak due to rising Treasury yields and weakness from earnings losers such as Abbott Laboratories more than offsetting strong gains from earnings winners like Netlix. The yield on the 10-year Treasury note hit a 14-year high of 4.18% and [..]

What the US midterm elections mean for the dollar and stocks – Special Report

Posted on October 19, 2022 at 12:55 pm GMT

On November 8, American citizens will head to the polls to elect their new Congress. Opinion polls and prediction markets argue the Republicans will take back at least one chamber, setting the stage for two years of political deadlock. Such an outcome could spark a relief rally in equity markets, and perhaps some profit-taking in the mighty dollar. Power shift With less than three weeks to go, investors are grappling with how this election could impact US government policy and [..]

Daily Market Comment – Yen goes into freefall, stocks stage another relief rally

Posted on October 18, 2022 at 9:20 am GMT

Yen hits 32-year low against dollar as Japan’s currency crisis deepens Sterling recovers after new finance minister tears up disastrous tax plans Stock markets stage comeback too, encouraged by rosy bank earnings Yen breaks down Japan’s currency crisis has snowballed into a total meltdown. The yen sliced through some crucial support regions like butter over the last couple of weeks to hit its lowest level in more than three decades against the US dollar, prompting another round of verbal intervention [..]

Daily Market Comment – US inflation shocker leaves trail of confusion in markets

Posted on October 14, 2022 at 8:42 am GMT

US inflation surprises to the upside, boosting Fed rate bets Dollar jumps and stocks drop, before a stunning turnaround Yen sinks even deeper, sterling capitalizes on political reversal Inflation blues Another shockingly hot US inflation report rocked financial markets yesterday, boosting bets that the Federal Reserve will raise interest rates to almost 5% before this cycle concludes. The core CPI rate overcame forecasts to reach a fresh four-decade high in September, with sticky categories such as medical care and rents [..]

Investors on the edge of their seats in anticipation of earnings season

Posted on October 13, 2022 at 12:47 pm GMT

The US earnings season kicks off on Friday, and investors are eager to find out whether earnings and revenue numbers will miss their already downwardly revised estimates, but more importantly whether forward earnings guidance will reflect bets of even higher interest rates by the Fed and the likelihood of a recession. Ex-energy, yearly growth to turn negative With inflation still around four times the Fed’s 2% objective, and officials themselves signaling that they will keep hiking rates aggressively even if [..]

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