U.S. stock index futures rise as Treasury yields decline, with tech stocks leading the rally ahead of earnings reports and Federal Reserve Chair Jerome Powell's upcoming speech.
The US dollar experienced a major technical reversal due to a weaker JOLTs report, leading to a drop in US interest rates, while market positioning played a role in the price action; the focus now shifts to personal consumption figures and US jobs data, with the euro and sterling firm but most other G10 currencies softer, and emerging market currencies mixed. In Asia, most large bourses advanced, but Europe's Stoxx 600 fell after rallying in previous sessions, while US index futures traded softer; European bonds are selling up, gold is consolidating, and oil prices are firm. Australia's CPI slowed more than expected, China is expected to release the August PMI, and Japan reports July retail sales. The US dollar has seen no follow-through selling against the yen, yuan, or Australian dollar, while the euro and sterling staged impressive price action. The JOLTS report saw the dollar and US rates reverse lower, and today the US reports advanced merchandise trade figures for July, with the Canadian dollar as the worst performing G10 currency yesterday.
The US dollar experienced weakness due to disappointing economic data, leading to speculation that the Federal Reserve may not need to be as aggressive in its monetary policy settings, while equities showed modest gains; Chinese PMI numbers beat estimates but concerns about the property sector lingered; USD/JPY dipped before recovering; and the DXY index stabilized after recent losses, with potential support levels identified.
The U.S. dollar drifted in cautious trading as investors considered U.S. jobs data that indicated a potential slowdown, suggesting that the Federal Reserve may be nearing the end of its monetary tightening cycle.
The US Dollar performed strongly against major currencies, with the Euro experiencing its 8th consecutive weekly loss and the Chinese Yuan performing poorly, while global market sentiment was negative and stock markets weakened. In the coming week, market focus will be on the US inflation report, UK employment and GDP data, Australian employment data, and the ECB rate decision.
The Federal Reserve has expressed concerns about disruptions in the US Treasury market due to hedge fund trading strategies that could exacerbate market crashes.
The US Dollar Index (DXY) is expected to experience a significant decline after a period of rally, according to a popular crypto trader, as the completion of a key Elliott Wave theory pattern suggests a downward trend for the dollar.
Wall Street's main indexes bounce back as U.S. Treasury yields retreat, with Ford shares rising on progress in labor talks and growth stocks rebounding.
The U.S. dollar is experiencing its first "golden cross" since July 2021, indicating potential upward movement and potential challenges for stocks, as it typically continues to climb for three months following this signal.
Gold and silver prices are slightly down as U.S. Treasury yields rise, the U.S. dollar index remains high, and traders and investors anticipate a potential U.S. government shutdown.
The recent decline in the US equity market is validating concerns about its lopsided nature, with a small number of top-performing stocks leading the market lower and the remaining companies struggling to make gains, potentially exacerbating losses in a rising Treasury yield environment.
The Dollar Strength Index (DXY) reached a 10-month high, indicating growing confidence in the USD compared to other fiat currencies; however, concerns about the surge in demand for the USD potentially impacting Bitcoin and cryptocurrencies are not necessarily interconnected.
MSCI's global equities index rose, U.S. Treasury yields dipped, and the dollar weakened after positive inflation data from Europe and the United States reduced concerns about further interest rate hikes by the Federal Reserve.
The co-founders of Glassnode predict that the US Dollar Index (DXY) will decline, leading to a bull run for Bitcoin.
Stocks slip as U.S. crude futures drop and mortgage rates climb, while investors await payroll data for signs of a slowing job market; electric vehicle stocks like Rivian and Lucid are making moves, and the U.S. Dollar Index rises for its 12th consecutive week. European stocks close mixed, and utilities stocks see their worst year in over a decade due to higher bond yields.
The US stock market experienced losses in the third quarter, driven by rising US Treasury yields, leading to a surge in the US dollar and a hostile environment for gold and silver; the fourth quarter may see a continuation of this trend if US yields continue to rise.
Gold and silver prices have been boosted by geopolitical concerns and dovish comments from the Federal Reserve, but the path of least resistance for gold remains sideways to down unless there is a reversal in US Treasury yields.
