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.

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
EUR/USD
Mixed
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Breaking news

Fed Financial Stability Report: Asset Prices May Be Vulnerable if Risk Appetite Falls

Real Time News
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:05 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • The Federal Reserve discussed the vulnerability of asset prices should appetite change. Get your market update here: https://t.co/0nAEKEX1eh https://t.co/BD24UcDeyT
  • EUR/USD stronger amid broad USD weakness on Thursday $EURUSD https://t.co/h042KoSyuA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.98% 🇨🇭CHF: 0.60% 🇦🇺AUD: 0.49% 🇳🇿NZD: 0.26% 🇯🇵JPY: 0.11% 🇬🇧GBP: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4u2cNfSmLn
  • RT @BrendanFaganFx: Federal Reserve Hints at Potential Declines in Asset Prices, Calls for Hedge Fund Transparency #Fed #FederalReserve #F…
  • Both EUR/JPY and EUR/USD are hovering near multi-year downtrend downtrends, while EUR/GBP may still have more room to the topside. Get your $EUR market update from @CVecchioFX here:https://t.co/2SYCKwz8hz https://t.co/tj6UQUDzRL
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 3.18% Gold: 1.61% Oil - US Crude: 0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mo9LS3teJl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 86.18%, while traders in Wall Street are at opposite extremes with 78.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F4HwBZ2LvK
  • Fed says the markets are at vulnerable to dropping if risk appetite falls. To any normal person that is obvious. From the central bank that is a passive aggressively projecting a concern
  • Fed's Brainard: - Potential hedge fund threats need further transparency - Archegos demonstrates the limit of visibility on hedge fund risk
S&P 500 Extends Winning Streak to 8 Days Despite Downgrades

S&P 500 Extends Winning Streak to 8 Days Despite Downgrades

Peter Hanks, Strategist

S&P 500 Talking Points:

S&P 500 Extends Winning Streak to 8 Days Despite Downgrades

The S&P 500 closed Monday’s session just 0.1% higher than it opened after recouping losses from earlier in the session. The rebound helped to extend the index’s current win streak to 8 straight sessions, the most since October 2017. Surprisingly, bulls were able to will the index higher even after a slew of analyst price target downgrades weighed on key sectors from semiconductors to airlines and manufacturing.

S&P 500 Price Chart: Daily Time Frame (October 2017 – April 2019) (Chart 1)

S&P 500 price chart 8-day winning streak

Boeing, Harley, General Electric, Micron, Starbucks and Southwest were among the firms to have their targets adjusted and the revisions come ahead of earnings season on Friday. Although bulls currently retain control, the downgrades may be a sign of things to come for upcoming reports and a string of bad news could prove troublesome for the current rally.

Fresh quarterly forecasts are out! View Q2 forecasts for the S&P 500, US Dollar, British Pound and more.

While company’s like Boeing may have specific headwinds to face, the consensus of last season appears downwardly facing. According to FactSet, firms offered the most negative change in quarterly EPS since the first quarter of 2016 when the index slid over 200 points.

View our Economic Calendar for live updates on data releases like non-farm payrolls and the US unemployment rate.

While other concerns were on the horizon at the time, the current landscape is not free from its own threats – not by a longshot. Therefore, the upcoming season – and particularly the consensus performance – will be critical for a continuation of the current price trend.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: S&P 500: Traders Remain Net-Short

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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

DISCLOSURES