All Articles Tagged - US500cash

Technical Analysis – US 500 index stays below familiar resistance

Posted on May 5, 2022 at 10:27 am GMT

The US 500 stock index (cash) staged a quick rally in the FOMC aftermath late on Wednesday, but the advance was not bold enough to pierce the ceiling around 4,308 and reach the 100-period simple moving average (SMA) on the four-hour chart. The bears are currently trying to take control below the former restrictive region of 4,281 – 4,270 and from a technical perspective, the odds are somewhat on their side as the RSI has pulled below its 70 overbought mark and [..]

Daily Market Comment – Fed downplays aggressive hikes, BoE decision next

Posted on May 5, 2022 at 8:37 am GMT

Fed raises rates but overall message not as hawkish as markets expected Dollar takes a step back, stock markets and gold come back swinging Bank of England meeting today might play out in a similar manner Don’t fear the Fed As widely expected, the Federal Reserve raised interest rates by half a percentage point and announced that the balance sheet reduction process will commence in June. There was a lot of speculation ahead of the event that the Fed would [..]

Daily Market Comment – Dollar shines, gold slides as real yields turn positive

Posted on May 3, 2022 at 9:07 am GMT

Real yields turn positive ahead of Fed, boosting dollar but bruising gold Stock markets stage comeback, battered tech shares lead the charge RBA raises interest rates, aussie jumps despite Chinese slowdown Real yields matter The Fed’s wish to tighten financial conditions has come true just in time for tomorrow’s policy meeting. In a sharp move, ten-year US real yields clawed their way into positive territory yesterday, resurrecting bonds as an asset class and dealing a devastating blow to the long-standing [..]

US Open Note – Falling dollar breathes life into the euro; Wall Street in the red

Posted on April 29, 2022 at 1:50 pm GMT

3Dollar loses steam but is still the king The king dollar cooled off against a basket of six major currencies in the last trading day of April, having previously rapidly advanced to a two-decade high of 103.93 on the back of persisting calls for higher interest rates in the US and Ukraine-related economic risks in Europe. Still, a fourth consecutive weekly gain is more than secured for the greenback ahead of a busy week of central bank meetings and data [..]

Technical analysis – US 500 index erases losses to test weekly resistance

Posted on April 29, 2022 at 9:20 am GMT

The US 500 index (cash) switched to a recovery mode after finding a strong footing near the former resistance trendline and the 4,141 level earlier this week. The area between the 23.6% Fibonacci retracement of the downfall from the record high of 4,808) at 4,274 and the 4,308 mark has been limiting bullish actions during the week, while it has also been a key barrier since June 2021. A close above that bar will probably motivate fresh buying towards the 38.2% Fibonacci of 4,378, [..]

US Open Note – Dollar index surges to 20-year high; Yen still plunging

Posted on April 28, 2022 at 1:15 pm GMT

BoJ maintains dovish stance The Bank of Japan (BoJ), announced a continuation of its ultra-low yield policy earlier today, catapulting the dollar beyond the psychological threshold of 130.00 yen, to the highest level since 2002, hitting the 131.00 round number. The euro, meanwhile, dipped below another important handle of $1.05. The dollar index is extending its movement towards a 20-year high of 103.92. US stocks futures are suggesting a second positive day in a row for the S&P 500 ahead of the earnings results by Apple and Amazon after the closing bell today. There had been considerable market speculation that the [..]

Daily Market Comment – Yen takes another dive as US dollar rally goes into overdrive

Posted on April 28, 2022 at 8:31 am GMT

US dollar charges even higher, stampedes over all major currencies Yen collapses after BoJ meeting, euro in agony amid energy crisis Facebook earnings cheer up stocks, Apple and Amazon next in line Dollar rampage, euro carnage The relentless rally in the US dollar has left a trail of destruction across the FX market, with every other major currency suffering serious collateral damage. This trend reflects both solid US economic fundamentals and the storm clouds gathering over other regions, where a [..]

US Open Note – No mercy for the euro; BoJ policy decision, Meta earnings next in focus

Posted on April 27, 2022 at 2:15 pm GMT

Euro plummets as Russian gas issues resurface There was no mercy for the depressed euro during the late European trading hours on Wednesday. The already squeezed common currency sank to the lowest point since April 2017 against the US dollar, remaining the worst performer across the board as Russia’s state-owned multinational gas supplier Gazprom completely halted supplies to NATO members Poland and Bulgaria because of non-payments in roubles. Of course, the EU’s powerhouse Germany, which gets 40% of its gas [..]

Daily Market Comment – Dollar steamrolls FX rivals, earnings blitz begins

Posted on April 26, 2022 at 9:36 am GMT

US dollar goes on a rampage, hits new highs against euro and sterling China tries to slow yuan depreciation, Hong Kong dollar peg in trouble Gold gets knocked down, Microsoft and Google report earnings Dollar shines bright The US dollar continues to bulldoze its way through the FX complex, crushing everything in its path. With the Eurozone economy under pressure from soaring living costs, the broadening shutdowns in China dampening growth, and the Bank of Japan’s refusal to play the [..]

US Open Note – Euro cheers on rate hike talk; stocks in the green as well

Posted on April 21, 2022 at 1:30 pm GMT

ECB’s rate hike talk intensifies It seems the European Central Bank (ECB) is prepping for the new reality of higher interest rates to fight inflation even though geopolitical developments around Ukraine keep clouding the Eurozone’s economic outlook. ECB’s Spanish Vice President Luis de Guindos endorsed yesterday’s hawkish talk from Latvian ECB governing council member Mārtiņš Kazāks, confidently approving the end of the regular APP bond purchases in July, while stating that from today’s perspective a rate hike in July, September and even [..]

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