All Articles Tagged - US500cash

Technical Analysis – US 500 index has more bullish fuel in store; next stop 4,720

Posted on November 4, 2021 at 4:04 pm GMT

The US 500 stock index (cash) has been breaking record after record over the past two weeks, and although overbought signals are flashing red at the moment, the unstoppable rally still has some room for improvement. The RSI is approaching April’s peak in the overbought territory and the Stochastics are printing a lower high, both warning that the bears could be around the corner. However, with the price trading some way below the key resistance line from September 2020 at 4,720, the bulls [..]

US Open Note – BoE rate surprise squeezes pound to monthly lows; oil rallies ahead of OPEC

Posted on November 4, 2021 at 2:40 pm GMT

BoE: Barking without bite Investors have been running ahead of central banks’ plans lately, growing confident that interest rates would rise earlier than previously anticipated as global inflation shows no signs of abating. In the UK though, the strong market pricing for a 15 bps rate hike had been somewhat reasonable. Policymakers, including Governor Andrew Bailey, had been constantly calling for a tighter monetary policy after showing willingness to raise interest rates before the bond tapering phase starts, citing the [..]

Daily Market Comment – Fading energy worries revive optimism

Posted on November 2, 2021 at 9:58 am GMT

New records for Wall Street as cooling energy prices pull yields down RBA plays down early rate increases, torpedoes Australian dollar US dollar, British pound, and oil prices await crucial events New highs The US stock market continues to trade like a runaway freight train. All three major indices on Wall Street closed at new record highs to kick off the new month, basking in the glory of a solid earnings season and some signs that the worst of the [..]

US Open Note – Stocks mark a rosy start to the month; FX markets in quiet trading

Posted on November 1, 2021 at 2:59 pm GMT

New record highs for stocks Looking solely at stock markets, one could get the impression that nothing goes wrong, and the remaining pandemic constraints are just a tentative phenomenon, which still allows economies to run up and grow. Of course, some key stocks such as Facebook and Amazon could not jump back into uncharted waters following their earnings releases last week, though overall, guidance from businesses has surprisingly signaled little concern about their future performance. As a result, the pan-European [..]

Daily Market Comment – Euro spikes higher as ECB fails to convince markets

Posted on October 29, 2021 at 9:28 am GMT

ECB strikes a dovish tone but investors just don’t buy it Bond market pricing in slowdown, US spending deal done Tech earnings disappoint, Japanese elections on the menu Teflon euro The European Central Bank said all the right things yesterday. President Lagarde highlighted that market expectations for a rate increase next year are not realistic and stressed this inflation episode remains transitory, but the euro still stormed higher alongside European yields. Investors are just not buying what the ECB is [..]

ECB plays down rate hike scenario but euro flies to fresh session highs – US Open Note

Posted on October 28, 2021 at 2:21 pm GMT

Global flattening of yield curves A flattening of global bond yield curves gained momentum on Thursday, ratcheting concerns about the pace of economic growth as more central banks start to signal higher interest rates in the foreseeable future amid the persisting inflationary pressures. Specifically, the 2-year Treasury yield climbed to the highest since March 2020 on Wednesday, narrowing the gap with the 10-year yield, while the Canadian and Australian equivalents marked a multi-year daily increase following the hawkish rate statement from [..]

Daily Market Comment – Will ECB fight market pricing for early rate hikes?

Posted on October 28, 2021 at 8:18 am GMT

ECB could tone down market expectations today, hurting euro Loonie jumps after BoC terminates QE program but oil prices weigh Stocks retreat amid worries of central bank error, US GDP eyed Euro reality check? The spotlight will fall on the European Central Bank (ECB) today, which will conclude its latest meeting at 11:45 GMT. Stagflation risks have engulfed the euro area economy lately with the mayhem in supply chains, collateral damage from China, and the calamity in energy prices threatening [..]

Daily Market Comment – Bank of Canada showtime, US spending deal in sight

Posted on October 27, 2021 at 9:03 am GMT

BoC rate decision today could spark fireworks in the loonie Yen awaits BoJ meeting, aussie in focus after inflation stats Earnings season fires up but all eyes on Capitol Hill BoC to validate market pricing? The main event today will be the Bank of Canada decision at 14:00 GMT, which will likely spark fireworks in the loonie as policymakers either validate market expectations for an aggressive rate hike cycle or tone them down. Money markets are pricing in almost four [..]

Daily Market Comment – Euro slides, Wall Street conquers new heights

Posted on October 26, 2021 at 8:45 am GMT

US stock markets set new records as Tesla goes into overdrive Euro falters ahead of ECB meeting, sterling comes back online Iran talks keep a lid on oil prices, gold cruises higher Tesla goes ballistic Wall Street started the week in good spirits. The heavy lifting was done by Tesla, which rose 12.6% to become a trillion-dollar company after it received a large order, propelling the S&P 500 to new records. The news sent the stock into an unreal ‘gamma [..]

US Open Note – Calm day ahead of busy week; oil around $85

Posted on October 25, 2021 at 1:00 pm GMT

US futures near new highs; Facebook releases its earnings Today’s economic calendar is light, but the rest of the week promises to be very interesting, with central bank meetings in the Eurozone, Canada, and Japan, as well as earnings reports from the technology industry’s heavy hitters. Facebook will launch the earnings campaign immediately following Wall Street’s closing bell. It is somewhat bizarre to watch US futures trading marginally lower from their all-time highs, even as inflation predictions continue to rise. If the tech sector earnings approve, the [..]

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