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Market Update: Fickle convictions
Firmer oil => firmer yields => stocks losing steam?
USDCAD: Retracement off 1.4293 pausing above 1.42, which needs to hold to contain the downside… above 1.4233 needed to slow risk of down moimentum building
US500: Lower highs bear watching along with 7800
XBRUSD: Futures trading above $100 (last $101.67)
Market Update: EUR reprieve, Firm stocks, Weaker oil
EURUSD: Getting a repieve while above 1.12 that would need to break 1.1250 (Friday’s close) and 1.1261 (Monday’s high) to neutralize the risk and then 1.1289 to make this more than just a bounce off the low. Support at 1.1220 blocks a return to 1.12. High so far at 1.1247.
US500: Stocks supported by the dip in oil but 7800 remains an obstacle to exposing the 7818 record high.
XBRUSD: No matter which Brent market you trade, $100 will stay pivotal in eventually setting its tone (futures last at $98.61)
Newsquawk US Market Wrap: Stocks rally across the board while long-end yields advance higher
SNAPSHOT: Equities up, Treasuries down, Crude down, Dollar up, Gold
Newsquawk US Market Wrap – Stocks gain as rate hike bets ease on soft NFP
Stocks gain as rate hike bets ease on soft NFP
SNAPSHOT: Equities up, Treasuries down, Crude down, Dollar down, Gold down
US Jobs miss on all fronts plus down revision to prior 2 months… yields down, stocks up, USD down, GOLD up
ISM MFG PMI: Slight headline miss, Prices miss (higher)… yield curve steepens, stocks hit on the prices component
Newsquawk US Market Wrap – Stocks mixed and yields rise despite soft PCE
SNAPSHOT: Equities mixed, Treasuries down, Crude up, Dollar up, Gold down.
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NAS100 4 HOUR: New month, new ball game?
‘Diverging with US500 abut run to the upside so far failed to stay above 30500, a level that could become pivotal if trade is between 30-31K.
Otherwise, for bulls to maintain control, 30100-30250 need to hold as support.
Test in the new quarter will be if stocks can keep a bid should US bond yields continue to march higher.
Market Update: Month/Quarter End
A bit of a disconnect as month/quarter end flows dominate.
- OIl (up)
- Bond yields (still elevated but lower)
- Stocks; Rangebound but so far unable to regain a bid (e.g. US500 still below 7700)
- USD: Month/quarter end flows a factor: EURGBP (down), AUDJPY (down). GBPUSD up but so far meeting resistance at 1.3300, EURUSD lags. Keep an eye on the 4PM London fixing.
US Market Wrap: Stocks mixed amid steeper yield curve as dovish Williams eases Oct. hike bets
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Newsquawk US Market Wrap – Stocks hit and oil chops amid mixed geopolitics SNAPSHOT: Equities down, Treasuries down, Crude up, Dollar up, Gold down.
