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S&P 500 Forecast: SPX rises with earnings in focus, Tesla jumps
Stocks are pointing to a modestly higher start as earnings continue to roll in. However, gains could be limited after stronger-than-expected US durable goods orders revived concerns over the Fed keeping rates high for longer. Tesla is set to open 12% higher despite missing both earnings and revenue estimates. The market was more impressed by the news of an acceleration in the production of affordable EV models. Meta will report after the close.
US dollar correction kicks in, AUD/USD firm ahead of CPI: Asian Open
The US 2-year bond yield remains support, which is capping the yield at 5% and weighed on the US dollar. And that helped AUD/USD rise for a second day ahead of a key AU CPI report.
US dollar stumble a tremor before the true FX earthquake hits
If you’re waiting for economic events outside the United States to spark the next wave of currency market volatility, you’re looking in the wrong place. Because in the absence of a black or grey-swan type event, it will almost certainly come from within the United States.
Nasdaq 100 Forecast: QQQ rises ahead of Tesla earnings
US indices point to a stronger start as corporate earnings continue to roll in. Earnings are providing a welcomed distraction after worries over the Fed keeping rates high for longer hurt sentiment last week. US PMI data is due shortly and is expected to show business activity grew at a faster pace. Tesla is due to report after the close after the EV maker's deliveries fell in Q1 and as the share price trades down 40% this year.
GBP/USD, EUR/USD forecast: Here’s why the US dollar rally has stalled
The US dollar rally has stalled, and the longer is fails to extends its gains the greater the odds of a pullback. For today, flash PMIs have placed GBP/USD and EUR/USD into focus.
S&P 500 Forecast: SPX steady with Middle East tensions & Netflix in focus
US stocks are set for a mixed open as Iran downplays Israel's attack, helping fears fade. Futures recovered earlier losses, and oil gave back earlier losses. Netflix reported stronger-than-expected Q1 earnings and revenues but is set to fall on the open after revenue guidance for the current quarter was modestly weaker than expected.
US dollar taps 106 as US 2yr eyes break of 5%, gold rangebound: Asian Open
The US dollar index recouped some of Wednesday's losses and is now tapping 106, whilst the US 2-year yields considers a break above 5%.
Nasdaq 100 Forecast: QQQ rises as chip stocks rebound, Netflix earnings in focus
US stocks are inching higher after recent losses as chip stocks rebound following impressive earnings from TSMC and despite jobless claims coming in stronger than expected. TSMC is considered a bellwether for chip stocks, so the upbeat earnings have helped the sector, which had fallen in recent weeks. Attention is now turning to Netflix earnings after the closing bell.
US dollar ponders correction as bond prices approach support
The US dollar has risen around 6% from the late December low. And with bond prices approaching support which could send yields lower, the US dollar rally could at least find some headwinds - if not a retracement.
Nasdaq 100 Forecast: QQQ inches higher ahead of Fed speakers
US stocks are inching higher with corporate updates in focus, and after US Fed Chair Powell dampened rate cut expectations. More Fed officials will speak today, and more hawkish commentary could impact sentiment. The market is currently pricing in a 40% probability of a July rate cut. United Airlines flies higher after encouraging results.
S&P 500 Forecast: SPX inches higher ahead of Powell
US stocks are set to open modestly higher in cautious trade ahead of a speech by Federal Reserve Chair Jerome Powell. US treasury yields rose to the highest level since November, a day after stronger-than-expected US retail sales data, which could limit the upside for stocks. Earnings from Bank of America and Morgan Stanley were better than expected.
Dow Jones Forecast: DJIA rises as risk sentiment improves
US stocks are set to open higher on Monday after steep losses last week. Following an attack by Iran on Israel over the weekend and comments from the US that it will not support a retaliatory attack by Israel, the market has calmed. Geopolitical developments will remain a key focus this week. US retail sales came in stronger than forecast, supporting the view that the Fed will keep rates high for longer. Goldman Sachs is set to rise after earnings.
USD/JPY forecast: New threat emerges as biggest risk to the rally
Sitting at 34-year highs and with market positioning nearing extreme levels, further USD/JPY upside is likely predicted on two factors this week: ongoing US economic exceptionalism and no dramatic escalation in Middle Eastern geopolitical tensions.
S&P500 Forecast: SPX falls as banks kick off Q1 earnings season
US stocks open lower as traders have plenty to worry about- rising concerns over geopolitical tensions in the Middle East, hotter-than-expected inflation this week, and some disappointment from the banks as they kick off earnings season. Riskier assets such as stocks are under pressure amid fears that Iran could attack Israel this weekend. Meanwhile, safe haven Gold rose to a fresh record high, and the USD rallies.
DJIA Forecast: DJIA recovers some losses after PPI data
US stocks have steadied after yesterday's deep selloff. Mixed PPI data appears to have taken the edge off yesterday's hotter-than-forecast inflation data. US PPI eased by more than expected on a monthly basis but rose by more than expected on an annual basis. Meanwhile, US jobless claims were relatively unmoved, highlighting the ongoing resilience in the labour market. Elsewhere, the ECB left interest rates on hold at 4%.
US dollar, yields surge on hot US CPI, ASX set to gap lower: Asian Open
Bond yields and the US dollar surged after the latest US inflation report bought serious doubt over a June Fed cut, dragging global indices lower which sets the stage for the ASX 200 cash market to suffer today.
S&P 500 Forecast: SPX tumbles after hotter inflation
US stocks are falling sharply after US inflation was hotter than expected, raising doubts over the Fed's ability to cut rates early. The market is now pricing in two rate cuts this year, down from three just a few weeks ago. The first-rate cut is fully priced in for September, pushed back from July. Followig the data US treasury yields and the USD rose and stocks have slumped.
Dow Jones Forecast: DJIA flat ahead of tomorrow's inflation data
US stocks are set for another flat session as investors sit on the sidelines ahead of tomorrow's inflation data. CPI is expected to rise to 3.4% YoY from 3.2% and could raise further doubts over the Federal Reserve's ability to cut interest rates this year. The market is pricing in a 50/50 probability of a rate cut in June and expects rates to be cut by 60 basis points across the year, down from 75 basis points just a few weeks ago.
Nasdaq 100 Forecast: QQQ muted as bond yields rise
US stocks are pointing to a quiet start after losses last week and as US treasury yields rise. Strong US jobs data and manufacturing reports from last week have seen the market rein in Fed rate cut expectations. The market is now pricing in just a 49% probability of rate cut in June, down from 58% a week ago. There is no major data release today. Looking ahead of CPI and the FOMC minutes will be in focus.
US dollar, EUR/USD, gold, crude oil analysis: COT report
The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.
Nasdaq Forecast: QQQ rises despite the strong NFP report
US stocks are set to open higher despite rising treasury yields after a stronger-than-expected NFP report. 303K jobs were added in March, smashing forecasts of 200k and raising questions over whether the Fed will be able to cut interest rates three times this year. The market is now fully pricing in the first rate cut in September rather than July. Oil is set to rise 4% across the week amid rising geopolitical tensions in the Middle East.
US dollar hints at NFP rebound, ASX 200 to track Wall Street lower?
The US dollar retraced for a third day, but with NFP stats favouring a 'beat' then we're on guard for a dollar bounce.
Dow Jones Forecast: DJIA rises post-Powell and as jobless claims rise
US stocks point to a higher open after Federal Reserve Chair Powell's speech yesterday and following a rise in jobless claims. Initial claims rose by 9k to 221k, up from 212k ahead of tomorrow's non-farm payroll report. The data comes after Fed Chair Powell reassured the market that the Fed supports cutting rates this year but that more evidence of cooling inflation was needed.