RTY has refused to break out of its almost two year consolidation even as the bigger indices continue to make new highs. RTY has seriously lagged, is it time for it to catch up and finally break out of the consolidation zone or are we headed right back down? Weekly Chart Bulls need to see Read More…
Year: 2024
Interest Futures Slide on Poor GDP Data, Surge in Treasury Yields
Interest futures fell on Thursday after a poor US GDP report. At the same time, downward pressure came from a rally in Treasury yields amid signs that US inflation remains high. Consequently, investors are keen to see the outcome of the core PCE price index report on Friday. US GDP, core PCE price index (Source: Read More…
Oil Prices Decline as Market Attention Turns Away from Middle East Crisis
Oil prices fell on Wednesday as investors shifted their focus from Middle East tensions to demand concerns. This shift came as the risk of an escalation in the conflict between Israel and Iran fell. Meanwhile, poor economic data from the US raised concerns about weak demand in the country. WTI, crude inventories (Source: Bloomberg, EIA) Read More…
S&P 500 (ES) Technical Analysis as U.S. Economy Grows 2.4%
The U.S. economy continues to expand in Q1 2024, with a projected 2.4% annualized GDP growth, exceeding the Fed’s non-inflationary growth rate. The IMF has raised its 2024 U.S. growth forecast to 2.7%, citing strong consumer spending and a strong labor market, which added an average of 276,000 jobs per month in Q1. Inflation is Read More…
Gold Prices Stabilize as Safe-Haven Appeal Wanes
Gold prices closed nearly flat on Tuesday after falling to a two-week low due to the loss of safe-haven demand. Moreover, investors turned their focus back to US economic data and the outlook for Fed interest rates. From the start of the week, risk appetite improved as Middle East tensions subsided. As a result, investors Read More…
Key Euro Technical Analysis as Fed and ECB Monetary Policy Divergence Looms
Fundamentals To Scope The Federal Reserve maintained interest rates at its recent meeting, with no significant modifications to the statement. The Dot Plot continues to indicate three rate cuts in 2024, and economic projections have improved, with higher growth and inflation and lower unemployment. US economic data has been mixed, with CPI and NFP surpassing Read More…
NASDAQ 100 Futures Technical Analysis: A Bearish Outlook
Given the RSI readings showing oversold conditions on the 4-hour chart but not yet confirmed on the daily chart, traders should be cautious and confirm with additional indicators or price action before entering trades. The NASDAQ 100 is volatile, and news or economic events can have immediate impacts, so keeping abreast of such factors is Read More…
Equities Recover Amid US Earnings Optimism, Easing Middle East Tensions
Equities recovered ahead of major US earnings reports on Monday and as Middle East tensions eased. The rebound comes after six sessions of declines caused by a drop in Fed rate cut expectations and geopolitical tensions. Nasdaq’s losing streak (Source: Bloomberg) Equities had a rough time last week, with the Nasdaq posting big declines as Read More…
Gold Futures (GC), Key Levels and Trade Opportunities as Middle East Tensions Ease
The price of gold has experienced a significant drop after failing to break through the resistance level of $2,400. This decrease in price is primarily attributed to a reduction in demand for safe-haven assets, as tensions in the Middle East, particularly between Iran and Israel, have not escalated further. US Treasury Yields on the Rise Read More…
Currency Futures Under Pressure Amid Middle Eastern Chaos
Currency futures were mixed on Friday as markets digested the news that Israel had attacked Iran. Safe-haven currencies like the Swiss franc and the yen rose sharply before pulling back as the session ended. Although Iran confirmed the attack, the country eased market fears by saying it had no intention to strike back. Meanwhile, risk-sensitive Read More…