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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Heads Up:🇺🇸 Overall Net Capital Flows (MAR) due at 20:00 GMT (15min) Previous: $72.6B
  • Heads Up:🇺🇸 Foreign Bond Investment (MAR) due at 20:00 GMT (15min) Previous: $-65.5B
  • USD/JPY continues to pullback from the monthly high (109.79) to largely mirror the recent weakness in longer-dated US Treasury yields. Get your market update from @DavidJSong here:
  • Gold continues to climb as US real yields maintain their decline $XAUUSD
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.72% Gold: 1.24% Oil - US Crude: 0.02% View the performance of all markets via
  • Canadian #Dollar Forecast: $USDCAD Seven-Week Plunge Searches Support -
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.08%, while traders in Germany 30 are at opposite extremes with 74.85%. See the summary chart below and full details and charts on DailyFX:
  • US Dollar Index (DXY) steadily trending lower towards yearly low. Feb low up first at 89.68, then 89.20 to follow. Get your $USD market update from @PaulRobinsonFX here:
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.09% France 40: -0.07% Germany 30: -0.08% Wall Street: -0.41% US 500: -0.61% View the performance of all markets via
  • Gold prices have jumped to a fresh three-month-high to start this week. Get your $XAUUSD market update from @JStanleyFX here:
Nikkei 225 Rallies with Nintendo Stock, S&P 500 Momentum Fading?

Nikkei 225 Rallies with Nintendo Stock, S&P 500 Momentum Fading?

Daniel Dubrovsky, Strategist

Asia Pacific Markets Talking Points

  • Nikkei 225 higher, Nintendo shares supported by Switch Lite announcement
  • Dovish Powell, FOMC minutes kept sinking the US Dollar as stocks gained
  • S&P 500 upside momentum fading before US CPI and Fed Chair testimony

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


Equities traded higher during Thursday’s Asia Pacific trading session, building on the upside momentum from the prior Wall Street trading session. There, testimony from Fed Chair Jerome Powell and the latest FOMC meeting minutes reinforced the case for the first interest rate cut since 2008.

Prospects of cheaper credit conditions from the world’s largest economy helped send the Nikkei 225 0.4 percent to the upside. Japanese gaming giant Nintendo saw shares soar (+3.85%) in the aftermath of the company announcing an updated version of their latest portable console, the Switch Lite.

Elsewhere, Australia’s benchmark index, the ASX 200, climbed over 0.5 percent heading into the close. It was boosted by solid performance in materials (+0.8%). In China, the Shanghai Composite aimed more than 0.3 percent to the upside.


At first glance, foreign exchange markets appeared to show signs of risk aversion as both the Japanese Yen and Swiss Franc rallied. The US Dollar understandably continued depreciating as the likelihood of lower rates works against its appeal from a yield perspective as traders lock in local government bond yields.

Yet, this could have been a balancing out of FX, via carry unwind, as investors rebalance their portfolios out of currencies and into increasingly-attractive stocks that are propped up by central bank easing bets. Anti-fiat gold prices, as a non-interest bearing asset, extended gains from the US trading session.

The Remaining 24 Hours

Mr Powell’s testimony to Congress continues into a second day as the next headline inflation data crosses the wires. Both risk sinking USD lower, for the time being, as markets anticipate a more-dovish Fed on increasingly-disappointing data.

Yet, the propensity for equities to continue rallying on relatively dismal conditions, especially as trade wars on other fronts (EU, India) heat up, could be running out. Do not discount what a premium for liquidity could do for the US Dollar.

S&P 500 Technical Analysis

S&P 500 futures are attempting to clear resistance at 3006, the record high set last week. However, the presence of negative RSI divergence shows fading momentum to the upside. At times, this can precede a turn lower or increase the chance of consolidation.

S&P 500 Futures Daily Chart

Nikkei 225 Rallies with Nintendo Stock, S&P 500 Momentum Fading?

Charts Created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for

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.