Mon, Apr 19, 2021 @ 15:04 GMT
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US Open: Stocks Consolidate at Record Highs, Earnings in Focus

US futures are easing lower after the Dow Jones & S&P 500 hit record highs on Friday. Earnings will step up a gear this week with Netflix, Johnson & Johnson, IBM & Coca-Cola due. USD slumps to 6 week lows. US futures Dow futures -0.2% at 34122 S&P futures -0.3%...

USD Remains Near One Month Low

The USD was rather weak on Friday remaining near a month low against a basket of its peers, as the Fed reiterated its view that any spike of inflationary pressures is more likely to be temporary. Also an improved market sentiment, did not allow for the greenback to gain...

Europe Hits Record Highs, US Dollar Hits Monthly Lows

Earnings, Covid boost European equities European stocks edged ahead to fresh record highs in early trade before momentum slowed. Strong corporate earnings, the continued rollout of Covid vaccines and the promise of easy monetary policy for longer has driven demand for equities to all-time highs. Markets are broadly upbeat about the...

Appetite For Risk Remains Strong As We Kick Off A Busy Week

Stocks and copper higher, dollar down Cryptos attempt recovery after weekend plunge Euro climbs to $1.20 ahead of ECB Lots of company earnings Sentiment at the start of this week remained positive for most risk-sensitive assets. European stocks followed Asian markets and US equities higher. Copper prices rallied while...

DAX Outlook: DAX Is Consolidating Under New Record High, Further Advance Likely

The Dax is trading within narrow consolidation under new all-time high on Monday, following 1.5% rally last Friday (the biggest one-day gains since March 8). Global stocks remain underpinned by expectations that major world central banks will maintain ultra-loose monetary policies for an extended period of time, while encouraging signs...

Technical Picture In The Interest Rate Markets And The FX Market Will Prevail

Markets Markets last week showed a remarkable disconnect from a series of high-profile (US) data releases. A set of very strong US data, including higher than expected inflation, a strong beat in retail sales, promising confidence indicators and strong housing data weren’t enough to prevent a (technically) significant setback in...

European Open: Japan’s Exports Blow Past Expectations

Asian Indices: Australia's ASX 200 index rose by 14.6 points (0.21%) and currently trades at 7,078.10 Japan's Nikkei 225 index has risen by 59.63 points (0.2%) and currently trades at 29,743.00 Hong Kong's Hang Seng index has risen by 232.17 points (0.8%) and currently trades at 29,201.88 UK and Europe: ...

Market Morning Briefing: Aussie Is Stable Within 0.77-0.7765

STOCKS Dow has risen well above 34000 and has potential to test 35000. The corrective fall that we have been expecting is not happening. DAX can test its crucial resistance level of 15700 and then reverse lower. Nikkie can fall within its 28000-31000 range. Shanghai can test the upper end...

Pull Back in Treasury Yields Boosted Stocks to New Record, Dollar Set Up for More Downside

Dollar tumbled broadly again as falling treasury yield pushed US and German stocks to new record highs. Near term trend in the greenback should have reversed, but it's unsure whether it's ready for medium term down trend resumption yet. At least, EUR/USD will have to break through 1.2 handle...

Recent Economic Data Shows it’s the US Consumer vs the Fed

The University of Michigan conducts a poll twice a month on consumer sentiment, which includes both a current sentiment and an expectations sentiment.  The Preliminary numbers are released in the middle of the month and the final results are released at the end of the month.  Aside from providing...

Weekly Focus – ECB Meeting Set to be an Appetizer for June

Markets had a stellar week with equity indices banging out record highs on both sides of the Atlantic. Hence the divergence in macroeconomic prospects was not reflective in their respective flagship equity indices. The S&P 500 and Nasdaq broke all-time highs with better than expected retail sales and jobless...

US Open: Futures Point to Gains as Stocks Trade at Record Levels

US stocks look to fresh all time highs amid growing optimism surrounding the economic recovery. US futures Dow futures +0.2% at 34100 S&P futures +0.5% at 4177 Nasdaq futures +0.85% at 14053 In Europe FTSE +0.4% at 7023 Dax +0.18% at 15422 Euro Stoxx +0.3% at 4021 US stocks charge higher After the...

Europe Rallies on Impressive China, US Data

European equities head higher European bourses are on the rise rounding off an upbeat week. Following all-time highs on Wall Street overnight and record Chinese quarterly economic expansion, stocks across Europe appear well supported heading towards the weekend. Signs of strong economic recoveries in the world’s two largest economies is buoying...

The DOW Jones Closed Above 34,000 For The First Time In History, The S&P Broke The Record, The Nasdaq Surpassed 14,000

The S&P 500 broke the record as a result of a rally in the tech sector and positive statistics. The Nasdaq Composite Index surpassed the 14,000 level for the first time since February 16 this year. The stock market received support from a decline of the US 10-year government...

US-China Show How Its Done

Risk appetite reliant on sustained global economic reopening. US stock indexes still poised for more gains over coming days. $1800 gold could re-energise bullion bulls. Brent needs robust demand recovery to retake $70 handle. US benchmark stock indices posted new record highs on Thursday as markets cheered signs that...

Elliott Wave Analysis: S&P 500 Seen In Fifth Wave

SP500 is trading nicely bullish as expected with an extensions well above 4k that is seen as an impulse because of no overlaps. We are tracking a five-wave rise away from 3852; move that can come to an end this month as we see price now trading in wave...

EUR/USD Price Action Suggests Follow-Up Gains Now Need A Stronger Euro

Markets Risk was on fire yesterday after a batch of consensus-smashing US data; from ever-rising regional business confidence indicators in NY and Philadelphia, over the lowest jobless claims since the pandemic erupted to searing retail sales helped higher by government-sponsored paychecks. European stocks rose about half a percent, Wall Street...

European Open: China GDP Accelerates To Highest On Record

China's growth more than delivered in Q1 with a rise of 18.3% YoY. Still, it was slightly below expectations but, with number as punchy as these, it will do. Asian Indices: Australia's ASX 200 index rose by 1.5 points (0.02%) and currently trades at 7,060.10 Japan's Nikkei 225 index has...

S&P 500 Notches The 22nd Record Close As Earnings Surge

The Australian dollar declined slightly after the latest GDP data from China. The numbers revealed that the country’s economy rose by 0.6% in the first quarter after the Q4’s increase of 2.6%. This growth led to an annualised growth of 18.3%, slightly below the expected 19.0%. The country attributed...

Strong Economic Data Boosts Appetite, But Coinbase Struggles

The Chinese GDP grew at a record pace in the first quarter, +18.3% from 6.5% printed a quarter earlier. The Chinese growth figure could be seen as a rebound ball after the pandemic-hit economy recovers quickly toward normal activity levels. And there is nothing more promising than seeing China...

Market Morning Briefing: Dollar-Yen Has Just Started To Bounce From 108.61

STOCKS Dow has risen past 34000 and while this break sustains our view of seeing a corrective fall will get negated and a further rise to 35000 is possible. DAX is stuck in the narrow 15100-15300 range and looks mixed in the near-term. Nikkei and Shanghai can oscillate in the...

China React: Record GDP At 18.3%, Retail Sales Impresses, IP Disappoints, Gold Softens

A wrath of Chinese economic data mostly came in below expectations and that along with heavy global bond yields was enough to drag sentiment down. China's CSI 300 index extended its slide following the mixed economic data. S&P 500 and Nasdaq futures slid slightly but are still near record...

US Open: Wall Street Heads Higher on Strong Earnings, Blowout Data

After a strong start to earnings season yesterday, earnings continue to impress. US retail sales & jobless claims smash forecasts lifting stocks higher. US futures Dow futures +0.4% at 33900 S&P futures +0.5% at 4150 Nasdaq futures +0.85% at 13934 In Europe FTSE +0.6% at 6976 Dax +0.18% at 15241 Euro...

Most Asian Indices Are Falling Following US Stocks After Hitting Record Highs

Hong Kong and Chinese stocks fell as the liquidity operations of the Chinese central bank signaled that it is trying to constrain credit growth. US stock futures fell following the Nasdaq index. The S&P 500 lost just over 20 pips, which is a marginal decline and is showing an...

Dollar Succumbs To Powell’s Dovish Tune, Stocks Mixed

Powell reiterates that rate hikes are a long way off, pressing down on yields Dollar skids again but upside risk from retails sales and jobless claims Banks kick off US earnings with a bang but only Dow Jones rises Most dovish Fed Chair ever strikes again The US dollar slid...

Robust Earnings Fail To Drive Equities Higher

The US earnings season kicked off yesterday with the largest US banks proving once again they can top analysts’ expectations by wide margins. Growth in investment banking, capital markets, and paring back loan loss reserves were major factors contributing to the bottom lines of JP Morgan, Goldman Sachs, and...

European Open: AU Jobs ‘Hire’, Ominous Day On The Nasdaq

Yet more positive data from Australia saw the ASX 200 hit fresh highs, yet AUD traders look elsewhere. And yesterday’s key reversal on the Nasdaq warrants a look. Asian Indices: Australia's ASX 200 index rose by 44 points (0.63%) and currently trades at 7,067.10 Japan's Nikkei 225 index has risen...

NAS 100 Breaks Into New High

Growth stocks are making a comeback as receding Treasury yields make risk assets attractive again. A bullish close above February’s high at 13908 suggests that buyers have returned. The NASDAQ index may resume its uptrend as market sentiment improves. After hitting the milestone at 14000 the market may take a moment...

Nasdaq At Highs But Watch For A Retracement

The US100 - NASDAQ has been trading in an upper range indicating a strong uptrend. This is the case partially to Yen getting weaker. We can spot 2 POC zones. The first zone 13495-13600 is a shallow retracement, usually seen in strong trends. 38.2 Fib is making a confluence with...

US Stocks Soar After Strong Wall Street Windfall

The Australian dollar rose in early trading after the strong jobs numbers. According to the statistics bureau, the country’s unemployment rate dropped from 5.8% in February to 5.6% in March. This decline was better than the median estimate of 5.7%. In the same period, the participation rate jumped from...