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
Oil - US Crude
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
More View more
Real Time News
  • Gold prices have climbed over 30% year-to-date on the back of bullish fundamental tailwinds. Get your $XAUUSD market update from @RichDvorakFX here: https://t.co/bapMUfL55c https://t.co/oAu42JY2gV
  • $USDJPY Daily Pivot Points: S3: 104.97 S2: 105.46 S1: 105.71 R1: 106.2 R2: 106.45 R3: 106.94 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • San Francisco Fed President Mary Daly: -Expects bankruptcies and insolvencies to rise in the fall -Some sectors of the economy will not fully recover to pre-crisis levels -Expiration of extra unemployment benefits could lead to a drop in consumer spending
  • The response from Mnuchin: https://t.co/tihfAGu6aW https://t.co/qxZl1j4qeO
  • $EURUSD Daily Pivot Points: S3: 1.1629 S2: 1.1694 S1: 1.1718 R1: 1.1783 R2: 1.1825 R3: 1.189 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.51% 🇨🇦CAD: 0.39% 🇪🇺EUR: 0.38% 🇳🇿NZD: 0.04% 🇬🇧GBP: -0.12% 🇯🇵JPY: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qEABm6nDyn
  • US Treasury Yields: 2-Year: 0.159% 3-Year: 0.188% 5-Year: 0.299% 7-Year: 0.496% 10-Year: 0.671% 30-Year: 1.369% $TNX
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.87% Gold: 0.40% Oil - US Crude: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9zzrCQMv2s
  • S&P 500 price is within striking distance of hitting all-time highs as stocks continue to rally. Get your market update from @RichDvorakFX here: https://t.co/pKvJ9wv9VY https://t.co/kkbBSDDVo8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.94%, while traders in US 500 are at opposite extremes with 78.38%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Ycy6nhUEDm
S&P 500 Faces Earnings Check, Hang Seng Index May Rise

S&P 500 Faces Earnings Check, Hang Seng Index May Rise

2020-07-13 01:00:00
Margaret Yang,


  • S&P 500 index futures climbed 1.05% to 3,185, challenging a key resistance
  • Hang Seng index aims to follow the US higher, trading at 25,900 pre-market
  • WTI crude oil prices re-test US$ 40.0 resistance. Will they break it or fail?

S&P 500 Index Outlook:

US markets shrugged off climbing virus cases around the globe and closed firmly higher last Friday. Asia-Pacific equities will likely follow and open higher, according to futures markets. The covid-19 pandemic showed no sign of fading any time soon, with Florida reporting a record daily increase in cases and a second viral wave seemingly sweeping the globe. Hong Kong has decided to shut all schools as community cases surge, and Australia’s second biggest city – Melbourne – is back to lockdown.

Earnings season is around the corner. Bank of America, BlackRock, Citigroup, Delta Airlines, Goldman Sachs, JPMorgan, Johnson & Johnson, Morgan Stanley, Netflix and Wells Fargo are among the key corporates to deliver their second quarter results this week. In the next three weeks, nearly 70% of the S&P 500 components will release their earnings, bringing to the market a ‘reality check’ in light of a sharp contraction.

All eleven sectors are seeing their earnings decline in Q2, with energy (-149.9%), consumer discretionary (-118.9%), industrials (-88.9%) and financials (-55.2%) among the hardest hit, according to Factset.

FAANG – which represents the largest US technology firms– has outperformed the S&P 500 index this year. Nasdaq has also outperformed Dow Jones and S&P 500 year-to-date with a 4.01% gain. The coronavirus pandemic has changed consumers’ behavior deeply, with more people shifting to e-commerce, streaming, video-conference, gaming and other digital services. This has underpinned technology firms’ revenue at the expense of brick-and-mortar businesses.

S&P500 index vs. FAANG YTD performance

Source: Bloomberg, DailyFX

S&P 500 Index –Technical Analysis

The index is re-challenging a strong resistance at 3,200, which it failed to break in early June and has subsequently entered into consolidation. The index is riding an uptrend which is highlighted by the Ascending Channel below. Overall momentum remains bullish in the near term. A firm break above 3,200 will likely open room for more upside towards 3,360 – the 200% Fibonacci extension.

S&P 500 Index – Daily Chart

S&P 500 Faces Earnings Check, Hang Seng Index May Rise

Hang Seng Index Outlook:

Hong Kong’s Hang Seng Index (HSI) stock market benchmark was in consolidation for most of last week, falling from 26,910 the highest to 25,539 the lowest. The index aims to follow the US higher on Monday, rebounding to 25,900 in the pre-market.

The Hang Seng Index is also influenced by the mainland China stock markets, which have also consolidated last week. The lack of fundamental support behind recent stock market rally rendered the indices vulnerable to technical pullbacks.

Technically, the Hang Seng Index is consolidating at around 25,600, with immediate support and resistance levels found at 25,000 and 26,00 respectively.

Hang Seng IndexDaily Chart

S&P 500 Faces Earnings Check, Hang Seng Index May Rise

Crude Oil Price Outlook:

Technically, WTI crude oil price is forming an ‘ascending triangle’ since end of May. The upper bound of the ‘ascending triangle’ coincides with a strong resistance at US$ 40.0, which is the ceiling of a ‘gap down’ resulted in early March. If crude oil price could firmly break out US$ 40.0 it will likely open room for more upside towards US$ 43.2 (61.8% Fibonacci retracement) and then US$ 51.7 (76.4% Fibonacci retracement).

WTI Crude OilDaily Chart

S&P 500 Faces Earnings Check, Hang Seng Index May Rise
Building Confidence in Trading
Building Confidence in Trading
Recommended by Margaret Yang
Don’t give into despair, make a game plan
Get My Guide

--- Written by Margaret Yang, Strategist for DailyFX.com

To contact Margaret, use the Comments section below or @margaretyjy on Twitter

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


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.