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
Bullish
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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • 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/6wxX6oQurn
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/w009tJEQZn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/2AeO1AdD2M
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/INJz4NSugQ
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZX8cS https://t.co/qdrsi61CN8
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/IyQdfq29fz
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/R7pa7DsM8n
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/EhdZpmkzaH
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook: https://www.dailyfx.com/forex/video/daily_news_report/2021/01/23/Dow-VIX-Tesla-and-Leverage-Reflect-Greater-Risk-to-the-Relentless-Bull-Market.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/KBOJIRPTQe
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/qP2PbS4dsY
Dow Surges Despite Record Plunge in Markit PMI on Coronavirus

Dow Surges Despite Record Plunge in Markit PMI on Coronavirus

Rich Dvorak, Analyst

DOW JONES SURGES AS INVESTORS OVERLOOK MARKIT PMI, FOCUS ON CORONAVIRUS STIMULUS BILL & FED

  • The Dow Jones, S&P 500 Index soar as Tuesday’s trading session gets underway
  • US Markit PMI data for March dropped at its fastest rate in over a decade as coronavirus fallout takes its toll on the economy
  • Stock market investors remain focused on fiscal stimulus efforts and recent FOMC action

Stocks surged at the New York opening bell on Tuesday with the Dow Jones Industrial Average, S&P 500 Index and Nasdaq jumping 6.3%, 5.1% and 5.0% respectively. Investors have grown increasingly hopeful that US Congress will ink a coronavirus stimulus bill to offset economic impact from the global pandemic. This follows news from the Federal Reserve yesterday detailing unlimited QE as the central bank steps in to provide massive amounts of liquidity to shore up panic-stuck markets.

Top Trading Opportunities in 2021
Top Trading Opportunities in 2021
Recommended by Rich Dvorak
Discover our Top Trading Opportunities
Get My Guide

DOW JONES INDEX PRICE CHART: 1-MINUTE TIME FRAME (24 MARCH 2020 INTRADAY)

Dow Price Chart DJIA Dow Jones Industrial Average Coronavirus Markit PMI

Chart created by @RichDvorakFX with TradingView

Stocks remain about 30% off all-time highs recorded last month, however, as the novel coronavirus (COVID-19) wreaks havoc on the global economy. Economic data is just starting to trickle in detailing how gloomy coronavirus fallout has been.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Rich Dvorak
Learn how to analyze and react to market news in real-time
Get My Guide

On that note, the IHS Markit PMI reading for March just crossed the wires, which revealed the flash composite output index crashed to 40.5 – a new series low. The services business activity index plunged to 39.1, also a new series low, while the manufacturing PMI fell to 49.2, a 127-month low. According to commentary from Chris Williamson, IHS Markit Chief Business Economist, the flash PMI data “underscores how the US is likely already in a recession that will inevitably deepen further.”

Read More: Gold Price to Resume Ascent as Fed Asset Purchases Balloon

-- Written by Rich Dvorak, Junior Analyst for DailyFX.com

Connect with @RichDvorakFX on Twitter for real-time market insight

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

DISCLOSURES