News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/vtqOrB41CF
  • Brent oil prices hit $80 per barrel for the first time since October 2018 #trading #OOTT
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/SQUCCYRCIk https://t.co/QwYndzNRVs
  • This week has started with the recovery rally in risk assets stalled and the Dollar looking down multiple barrels of fundamental threat in monetary policy and debt politics. $EURUSD is well positioned as indicator 1.1650-1.1750 https://www.dailyfx.com/forex/video/daily_news_report/2021/09/28/EURUSD-and-USDJPY-Staged-for-Breaks-as-Fed-Calculus-Shifts-US-Debt-Limit-Looms.html https://t.co/y8pFw0XRqr
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/OYWQSvNK12
  • AUD/NZD, Could This be the Turnaround? - #AUDNZD chart on @TradingView https://t.co/Hl6VSfO5R8
  • Another pleasure being on @ausbiztv with host @AusAndrewG talking about US indices, rising bond yields and $USDJPY Check out the full interview here! - https://t.co/GWWCZ7t9Tf https://t.co/WmqUvCMvpZ
  • 🇦🇺 Retail Sales MoM Prel (AUG) Actual: -1.7% Previous: -2.7% https://www.dailyfx.com/economic-calendar#2021-09-28
  • 🇨🇳 Industrial Profits (YTD) YoY (AUG) Actual: 49.5% Previous: 57.3% https://www.dailyfx.com/economic-calendar#2021-09-28
  • (APAC Stocks Briefing) Dow Jones Gains as Nasdaq 100 Sinks, Crude Oil Boosts Energy Stocks. ASX 200 in Focus #DowJones #CrudeOil #NASDAQ #ASX200 https://www.dailyfx.com/forex/market_alert/2021/09/28/Dow-Jones-Gains-as-Nasdaq-100-Sinks-Crude-Oil-Boosts-Energy-Stocks-ASX-200-in-Focus.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/yTN6C2IOvV
Global Stock Markets Start Year Strong; Follow-through in Week 2?

Global Stock Markets Start Year Strong; Follow-through in Week 2?

Paul Robinson, Strategist
Global Stock Markets Start Year Strong; Follow-through in Week 2?

Talking Points:

  • S&P 500 off to strong start, could use a breather to work off overbought conditions; dips viewed as potential buying opportunities.
  • DAX rallied sharply last week after initial weakness, looking to challenge record highs soon; a couple of key events on the docket, political concerns
  • FTSE is solid as long as it continues to stay above 7550/600, targeting 7950/900 on further strength

Start boosting your knowledge today with DailyFX Trading Guides & Forecasts

S&P 500

To end the week, the U.S. jobs report disappointed as NFPs clocked in at +148k vs. the estimate of +190k. The unemployment rate came in as expected at 4.1%, as did average hourly earnings with a reading of 2.5% YoY. Looking ahead to next week the calendar is light with data releases. Both ‘high’ impact data is slated for Friday, when CPI and Advance Retail Sales are scheduled. For the full docket of releases, see the economic calendar.

The S&P 500 started the year off on a strong note, posting gains each day last week. The market is at a juncture where chasing might not prove to be fruitful without a setback, but shorting until we see weak price action doesn’t hold any appeal. A constructive dip, where we don’t a sharp drop, could present an attractive opportunity for dip-buyers. There is a confluence of lines below which could offer the best spot to see any dip lower turn back higher.

S&P 500: Daily

Global Stock Markets Start Year Strong; Follow-through in Week 2?

DAX

Next week, there are two ‘high’ impact data events on the docket, with ECB minutes on Wednesday and German GDP on Thursday. There is some political risk with the German government trying again to form a new coalition government. The market isn’t showing much concern as the rally off last week’s low has been fierce.

To start the year, the DAX initially sold-off and rebounded sharply to finish out Tuesday. The key-reversal bar turned attention higher and buyers took notice as momentum beget more momentum. The rally has the DAX back facing the December swing-high at 13339. A breather may be in store in the short-term, but a breakout above the December high will quickly bring into focus the record high at 13525 or better.

Struggling with confidence right now? You’re not alone. See this guide for ideas on how to Build Confidence in Trading.

DAX: Daily

Global Stock Markets Start Year Strong; Follow-through in Week 2?

FTSE

No scheduled ‘high’ impact data releases are set for next week. For details on all upcoming releases, check out the economic calendar. The market will continue to focus on ‘Brexit’ headlines and any sizable swings which potentially result in sterling.

The FTSE continues to forge on higher out of the range created during the second-half of 2017. The size of the range projects a rally of ~300 points from the breakout beyond 7550/600 (closing/intra-day breakout). As long as the area surrounding the breakout holds, so does an upward bias. It would require a break back inside the multi-month range to bring a bearish outlook into play.

FTSE: Daily

Global Stock Markets Start Year Strong; Follow-through in Week 2?

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please SIGN UP HERE

You can follow Paul on Twitter at@PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES