Sat, May 08, 2021 @ 21:26 GMT
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Risk Aversion Returns As China Announces Tariffs

Dow Futures Slip More Than 500 Points Ahead of the Open; Trade Wars May Not Be as Easy to Win as Trump Promised; US Employment, Services Surveys and Fed Speakers Still to Come. Dow Futures Slip More Than 500 Points Ahead of the Open We’re back in risk aversion mode...

Forex Analysis: US30 And USDJPY

The US30 Index has retested its 200 DMA once again, after breaking down from its bearish rising wedge. It has moved back up to resistance at 24000.00 and remains in this vicinity. Traders are eying the chart for a potential break out, citing 24200.00 as a resistance level to...

DOW lost 459 pts, NASDAQ dropped 193 on Trump’s obsession with Bezos

US stocks were under full selloff mode overnight as DOW once tumbled as much as 758 points before paring some losses. It closed down -458.92 pts or -1.90% to 23644.19. S&P 500 lose -58.99 pts or -2.23% to close at 2581.88. NASDAQ suffered most and closed down -193.32 pts,...

Dow break structural support on selloff, EURUSD dives to press 1.2285 again

DOW's selloff accelerates as tech rout intensifies. The index hits as low as 23577 so far and is down nearly -2% at the time of writing. The break of 23708.73 minor support now suggests that recent decline is resuming. We'll likely see a break of 23725.12 soon and DOW...

US Q4 GDP finalized at 2.9%, Muted Reaction, DOW Can’t take out 24000 yet

US data wrap up: GDP annualized Q4 F : 2.9% vs exp 2.7% vs prior est 2.5% GDP price index Q4 F: 2.3% vs exp 2.3% vs prior est 2.3% Personal consumption Q4 F : 4.0% vs exp 3.8% vs prior est 3.8% Core PCE Q4 F Q/Q: 1.9%...

US 30 Index Finds Support Near Trendline and 200-Day SMA

The US 30 index has come under renewed selling pressure, falling back below its 100-day moving average (MA), but remaining slightly above the 200-day MA. Despite the latest pullback though, the index has not posted a fresh lower low, which makes one hesitant to trust further declines for now....

Market Morning Briefing: Pound Saw An Unexpected Low Near 1.4066

STOCKS Dow (23857.71, -1.43%) had attempted a rise from 23500 but could not sustain. The index fell back to 23700 yesterday, re-testing the near term support. Watch price action here as a break or bounce from current levels would decide the further course of direction. Dax (11970.83, +1.56%) did bounce back...

DOW closed down -1.43% after 737 pts swing, rejected by 24453 resistance

DOW initially gained 244 pts to 24446.22 but reversed to closed down -344.89 pts or -1.43% at 23857.71. Considering that it hit as low as 23708.73, that was indeed a massive 737 pts swing. The reversal was mainly because tech stocks were crushed. S&P 500 lost -45.93 pts or...

Equity Markets Roar Back | Bitcoin Falls Below 8K

Dow index posted its best day since August 2015 China is still seeking compensation from the US Twitter joined this trend to ban cryptocurrency advertisements The bulls returned to the market with vengeance as the Dow index posted its best day since August 2015 - with more than 700 points of gain....

DOW surged in late hour, Nikkei and HSI follow, JPY paring recent gains

Risk aversions receded much as markets, in the end, responded rather positively to news of trade talks between the US and China. For now, it seems both countries will hold fire first, and come back to the table. After struggling below 24000 handle for most of the session, DOW finally...

DOW feels heavy around 24000, Euro gains upside momentum

DOW opened notably higher today and breached 24000 handle to 24044.39. But it quickly lost momentum. For the moment, it's feeling heavy from 24000. Current fall from 25449.15 is seen as resuming the decline from 26616.71 to 23360.29. Ideally, if our view is current, any interim recovery should be...

Global Stock Market Crashed, Dollar Tumbled after Episode 1 of US-China Trade War

Global stock markets suffered steep selloff last week as US President Donald Trump has finally declare the start of trade war with China. Dollar was under broad based pressure with the development, but it was only the second weakest one. Australian Dollar suffered most for it's close trade link...

DOW lost -724 pts in delayed reaction to start of US-China trade war

DOW closed sharply lower by -724.42 pts or -2.93% at 23957.89 overnight as fear of trade war intensified. S&P 500 was down -68.24 pts or -2.52% at 2643.69. NASDAQ also dropped -178.61pts or -2.43% to 7166.68. Selloff continues in Asian session with Nikkei down -3.6% and HK HSI down...

Trump announced tariffs on USD 60b of Chinese imports; No, not USD 60b of tariffs!

Trump finally announce his plan to tariff as much as USD 60b in Chinese imports to safeguard technological development of the US and its future. Sorry, can you elaborate on what do you mean? Well, Trump said, "this has been long in the making," and "we have a tremendous intellectual property...

DOW gaps lower as Trump is ready to start trade war, USD/JPY pressing 105.24 support

DOW gaps lower today and selling then intensifies in the second hour. The index is now trading down -1.5% at the time of writing. Worry on trade war is seen as a major bearish factor for stocks. And risk aversion also a major reason for Yen's broad based strength...

March FOMC Meeting Will Be Epic, But Will Jerome Powell Revive The US Stock Market?

The FOMC gradual rate hiking clearly sustained the stock markets and indices along with stocks which enjoyed a sustained bullish rally. This has been going on since the 2008 Recession. Volatility hit record lows in the 4th quarter of 2017 and this was obviously caused by investors’ complacency and buying euphoria. The...

DOW, NASDAQ dived. FTSE downside breakout on GBP rally

US stock markets closed down sharply overnight as the selloff in Facebook spread to techs and then other sectors. In the background there is also concerns of Trump's trade war against China. Down dropped -1.35% to 24610.91 and S&P 500 dropped -1.42% to 2712.92. NASDAQ suffered the biggest damage...

DOW heading for downside breakout as selling intensifies

Last Friday, we mentioned that DOW should be close to a triangle breakout point. Now, it seems like traders have made up their mind for downside move. 24668.83 will now be the key focus. Break will resume the fall from 25449.15. Break should at least send the index to...

DOW approaching breakout point

DOW opens mildly higher today. It's staying in converging triangle pattern. And should be approaching a breakout point. Levels to watch are 24668.83 and 25449.15.

Markets not too surprised at Gary Cohn’s resignation, DOW ended flat

So it finally happened. White House economic top economic adviser Gary Cohn resigned. It's reported that the decision was made hours after direct confrontation with Trump regarding the steel and aluminum tariffs. Trump requested Cohn to publicly support the tariff plan. But Cohn, as a free trade advocate, didn't...

DOW correcting fall from 25800

DOW sees some solid buying today, up 200 pts at the time of writing. But it's more like a recovery that corrects the fall from 25800.35 to 24217.47. For now, the recovery could extend to 55 H EMA an or above. but strong resistance is likely between 25000/25200. Another...