Nasdaq 100 and Nikkei 225 Plunge, Dow Continues Downtrend
Nasdaq 100 Plummets in Morning Trade At one point this morning, the Nasdaq 100 was anticipated to open 1,000 points lower in the cash session. The index has gapped lower, now trading below the 200-day SMA for the first time since March 2023. This drop has erased all gains since the beginning of May. The […]
Gold and Oil Surge Amid Middle East Tensions; US Data in Focus
The reported death of Hamas leader Ismail Haniyeh in Iran, allegedly due to an Israeli missile strike, has significantly heightened tensions in the Middle East. This incident is likely to provoke imminent retaliatory attacks. Iran’s leadership has issued strong responses: President Masoud Pezeshkian warns that Iran will “make the occupiers (Israel) regret this cowardly act.“ […]
Gold, Oil, and USD/JPY Sentiment Outlook
Gold Analysis Analysis of retail trader positioning indicates 56.19% are net-long, with a long-to-short ratio of 1.28 to 1. Net-long traders have decreased by 2.47% since yesterday and 3.96% from last week, while net-short traders have increased by 7.34% since yesterday but decreased by 4.98% from last week. Using a contrarian approach to market sentiment, […]
Trader Sentiment: GBP/USD, AUD/USD, USD/JPY Update
AUD/USD: Retail trader data reveals that 78.72% of traders are net-long, with a ratio of 3.70 long traders for every short trader. The number of net-long traders has increased by 5.45% since yesterday and 34.21% since last week. Conversely, net-short traders have decreased by 14.05% since yesterday and 49.63% since last week. Taking a contrarian […]
Global Markets Tumble: FTSE 100, S&P 500, Nikkei 225 Drop
FTSE 100 Breaks Key Support Level Heavy losses in global indices continue to impact the FTSE 100, with prices falling below the crucial support zone around 8120, which has been steady since June. A close below this and the 100-day SMA would indicate a bearish trend, targeting support at 8044 and then 7976. Buyers need […]
FTSE 100 holds key support levels amid slowdown
FTSE 100 Faces Resistance The FTSE 100 index experienced a rally yesterday, but momentum waned in early Tuesday trading. Despite its inability to maintain a sustained rally, the price has consistently held above 8100 since May, establishing a robust support area. A close below 8100 could lead to a quick decline, targeting 8044 and then […]
AUD/USD: Downtrend Analysis and Possible Reversals
Continued Pressure on the Aussie Dollar The Australian dollar continues to face challenges. Despite a previous boost from the Reserve Bank of Australia’s (RBA) strong stance on inflation and potential rate hikes, recent US inflation data has led to renewed rate hike expectations from the Federal Reserve as soon as September. Since dropping into oversold […]
FX Sentiment Analysis: GBP/USD, EUR/USD, AUD/USD Overview
GBP/USD: Potential Downturn? Recent data shows retail traders are 32.63% net-long with a short-to-long ratio of 2.07:1. There has been a 1.37% rise in net-long positions since yesterday and a 13.89% increase over the past week. Conversely, net-short positions have dropped 4.09% since yesterday but have seen a 1.06% rise from last week. EUR/USD: Ambiguous […]
Dow Surges to New Highs, FTSE 100 Holds Support, and DAX Struggles to Maintain Gains
FTSE 100 Steadies Above Key Support The FTSE 100 rebounded from the 8150 support zone yesterday, temporarily halting further declines. Recent gains have stalled around 8300, so a close above this level is necessary to revive a bullish outlook in the short term and potentially reach the May highs. DAX Rally Stalls Despite the […]
Yen Weakens Amid Fed’s Dovish Tone and Lower US Yields
Powell Suggests Potential Rate Cuts Jerome Powell indicated improving economic conditions, paving the way for the Fed’s first rate cut since the rate hikes began in 2022. He emphasized that the Fed would not wait until inflation hits the crucial 2% mark before lowering rates, noting that monetary policy has a variable lag. Powell mentioned […]
Global Markets Surge on ‘Trump Trade’ as Political Drama unfolds
Global financial markets experienced a significant uptick on Monday, propelled by a resurgence in the “Trump trade” following an attempted assassination on former President Donald Trump. The incident, which occurred during a rally in Pennsylvania, has sparked a renewed wave of speculation and volatility in the markets as investors grapple with the implications for the […]
Russell 2000 Rallies Over 3.5% After CPI Data Release
FTSE 100 on Track for Third Day of Gains The FTSE 100 is set for its third consecutive day of gains, currently breaking through its May-to-July downtrend line at 8,259, with last week’s high at 8,287 as the next target. Further resistance can be seen at the 8,314 peak from late June. Potential declines might […]
June Inflation Data Likely to Support Fed’s Cautious Rate Approach
Investors are increasingly betting on a series of interest rate cuts by the Federal Reserve as June’s Consumer Price Index (CPI) data, set for release on Thursday, is expected to show a further cooling of inflation. The upcoming report will be pivotal in shaping the Fed’s monetary policy trajectory for the remainder of the year. […]
Asian Markets Await Fed Chair’s Testimony Amid Mixed Signals
Asian currencies and stocks exhibited mixed movements on Tuesday as global markets keenly awaited testimony from Federal Reserve Chair Jerome Powell. Investors are hoping for dovish remarks that could indicate a potential interest rate cut in September, a move that would likely benefit riskier assets and regional economies. Currency Movements Despite a softer US dollar, […]
Nvidia’s AI Surge Reshapes Single-Stock ETF Market
The artificial intelligence revolution is reshaping the ETF landscape, with Nvidia Corp. (NVDA) now dominating the single-stock ETF sector, previously led by Tesla Inc. (TSLA). As the AI boom propels Nvidia to new heights, the company now represents over half of all assets in single-stock ETFs, surpassing $6 billion. In stark contrast, Tesla-centric funds have […]
Dollar Steady, Gold Gains Slightly on Mixed US NFPs
The June US Jobs Report (NFP) revealed the creation of 206k new jobs, surpassing the forecast of 190k. However, last month’s figure was revised down from 272k to 218k, a notable adjustment of 54k. The unemployment rate increased slightly to 4.1%, compared to the previous and expected rate of 4%. Average hourly earnings aligned with […]
Bitcoin Drops to Two-Month Low Amid Interest Rate Uncertainty
Bitcoin’s (BTC) struggle to maintain its value gathered momentum on Thursday as it fell for the third consecutive day, slipping below the pivotal 200-day simple moving average (SMA), a crucial barometer for long-term price trends in both traditional and crypto markets. Market Analysis Bitcoin’s descent past the 200-day SMA at $58,492 during European trading hours […]
Mt. Gox Distribution Fuels Bitcoin Volatility, Analysts Remain Bullish
As Bitcoin (BTC) dipped below $61,000, market volatility is on the rise with the impending distribution of assets from the defunct Mt. Gox exchange. Despite the short-term uncertainty, some analysts remain confident, projecting a significant surge to $150,000 by the end of 2024. Bitcoin’s Recent Decline Bitcoin dropped to $60,900 from over $62,000 during Asian […]
Nikkei surges past 40,000 as weak Yen fuels stock rally
The U.S. dollar soared to a near 38-year high against the yen on Tuesday, driven by surging Treasury yields and increasing speculation about a potential second Donald Trump presidency. This currency shift, reflecting investor sentiment about future U.S. economic policies, had widespread ripple effects across global markets. Nikkei Breaks 40,000 as Yen Weakens The weakening […]
EURUSD rises amid political uncertainty in France
The EURUSD currency pair opened with a notable positive gap on Monday, reflecting market reactions to the French election results. Marine Le Pen’s far-right party secured a victory in the first round on Sunday, albeit with a narrower margin than expected. This outcome has stirred speculation regarding the party’s ability to secure an absolute majority […]
