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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇮🇩 Inflation Rate YoY (FEB) due at 04:00 GMT (15min) Expected: 1.38% Previous: 1.55% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.75% Gold: 0.92% Silver: 0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SDuwP1gB7E
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.72% 🇳🇿NZD: 0.65% 🇬🇧GBP: 0.49% 🇪🇺EUR: 0.12% 🇨🇭CHF: 0.05% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/maFKPUDES5
  • Dramatic-looking Bearish Engulfing candle pattern with negative RSI divergence on the weekly #AUDUSD chart. A turn may be brewing. https://t.co/25jfu7eHaB
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/2Xfmpbd24B
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.78%, while traders in GBP/JPY are at opposite extremes with 66.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/pXjqRmdicy
  • Australian Dollar Unfazed by Chinese PMI as RBA Meeting Shifts Into View - https://www.dailyfx.com/forex/market_alert/2021/03/01/Australian-Dollar-Unfazed-by-Chinese-PMI-as-RBA-Meeting-Shifts-Into-View.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $AUD $AUDUSD https://t.co/mR4b8YAVIe
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/k2YkjBeSdW
  • RT @FxWestwater: Australian Dollar, APAC Markets Focus on Bond Yields to Start March Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/03/01/Australian-Dollar-APAC-Markets-Focus-on-Bond-Yields-to-Start-March.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $AUDUSD https://t.co/py…
  • 🇦🇺 Investment Lending for Homes (JAN) Actual: 9.4% Previous: 8.2% https://www.dailyfx.com/economic-calendar#2021-03-01
S&P 500 Outlook Mixed as Stocks Rally on US-China Trade Deal Bets

S&P 500 Outlook Mixed as Stocks Rally on US-China Trade Deal Bets

Daniel Dubrovsky, Strategist

Asia Pacific Markets Talking Points

  • APAC equities trade broadly higher absent a clear catalyst, Yen fell
  • US-China trade resolution bets boost Shanghai Composite, ASX 200
  • S&P 500 facing indecision as market positioning offers bullish bias

Find out what retail traders’ equities buy and sell decisions say about the coming price trend!

Market sentiment was overall upbeat during a relatively quiet Asia Pacific session on Tuesday. Gains were seen in most bourses, with shares performing the best in China and Australia where the Shanghai Composite and ASX 200 rose over 1.8% and 1.2% respectively.

Meanwhile, absent a clear catalyst, gains in equities were not as pronounced in Japan and South Korea. The Nikkei 225 and KOSPI only rose about 0.3% heading into the close. Meanwhile, the anti-risk Japanese Yen aimed cautiously lower against its major counterparts.

The upbeat mood could have been traced to rising bets of a US-China trade deal after President Donald Trump recently found a resolution with Mexico, avoiding a rise in tariffs on that front. At the end of this month, Mr Trump is expected to make that call around the G20 Summit in Osaka.

Several newswires attributed the upbeat mood in markets to the People’s Bank of China fixing the Yuan reference rate against the US Dollar such that it was a larger-than-expected appreciation. This is despite pronounced gains in the Greenback over the past 24 hours.

China is Australia’s largest trading partner, thus fading trade tensions between the world’s largest economies can significantly improve business sentiment and offer a boost for their stock markets. S&P 500 futures are now pointing higher, hinting of more upbeat mood to come.

S&P 500 Technical Analysis

However, taking a closer look the US benchmark stock index reveals a warning sign. A Shooting Star candlestick is indicating indecision after pronounced gains and could precede a turn lower given confirmation. That places the focus on a potential support area around 2817.

To contrast this signal, IG Client Positioning is still offering a bullish-contrarian trading bias for the S&P 500. An uptick net-short positioning can accelerate near-term gains. To learn more about using this in your trading, join my webinar each week on Wednesday’s at 00:00 GMT.

S&P 500 Daily Chart

S&P 500 Outlook Mixed as Stocks Rally on US-China Trade Deal Bets

Chart Created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES