On Monday, US equities rose, and the dollar retreated as investors awaited Wednesday’s inflation data. The technology-heavy Nasdaq led the US equities rally, gaining 1.1%. Gains in Tesla Inc. and Amazon.com boosted the market the most. The S&P 500 and the Dow also increased, with gains of 0.7% and 0.3%, respectively. The session seemed calm Read More…
Introduction The S&P 500, like most indices has been surging this year with ES only 6% away from all-time-highs. The trend remains in an upward momentum and there are almost no bearish signals at the moment. Let us look at the technicals to get a better picture of where the opportunities lie and what we Read More…
Currency futures ended lower last week as the dollar index continued its winning streak for an eighth consecutive week. Bloomberg dollar index (Source: Bloomberg) This streak, the longest since 2014, came after recent data indicated the resilience of the US economy. The DXY remained almost unchanged at 105.08 for the day. Strong US economic data Read More…
Gold prices fell as US data strengthened, overshadowing the Fed’s expected pause. Brian Lan from Singapore dealer GoldSilver Central mentioned, “Market participants seek higher returns, and currently, the dollar appears attractive.” The dollar was heading for its longest weekly winning streak in nine years thanks to robust US economic data. This week’s data revealed a Read More…
Recap The last time we looked at YM was almost a month ago when we watched price break out of an ascending triangle. It has been a rocky road for YM traders as the breakout did not last, and a retracement to the triangle has occurred. There may be opportunities arising as we speak, though, Read More…
On Wednesday, US equities closed down, with the Nasdaq leading the decline with a 1% loss. This drop was driven by concerns that persistent inflation, fueled by stronger-than-expected services sector data, might lead to prolonged high interest rates. US services activity (Source: Institute for Supply Management) The Institute for Supply Management disclosed that its non-manufacturing Read More…
