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
EUR/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
Oil - US Crude
Mixed
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
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
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
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
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:https://t.co/QQwAZTxZFg https://t.co/MSOw9DeSxe
  • Wall Street Futures Update: Dow Jones (+0.415%) S&P 500 (+0.417%) Nasdaq 100 (+0.466%) [delayed] -BBG
  • - Trump popularity slowly returning despite a surge of US-based coronavirus cases - Democrats drafting $2.4 trillion aid package as urgency for more stimulus swells - #AUDUSD testing key support at 0.7018 – will a break here accelerate the selloff? https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/24/AUDUSD-at-Key-Support-Trump-Popularity-Edging-Up-Despite-Virus-Spike.html
  • Looks like the #nifty50 is heading for its worst week since early May (-6.08%), over 4 months ago, granted we still have Friday's session left $USDINR has also been climbing lately Might this continue? Stay tuned for a technical special later today! https://t.co/1vdbgAWs0s
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:https://t.co/3UIKmbLIvD https://t.co/vdL3w1KxIZ
  • Australian Dollar Outlook - via @DailyFX: AUD/USD bulls search for support around two-month lows as market sentiment seemingly improves, but the Aussie could remain under pressure as volatility lingers. Full Analysis - https://www.dailyfx.com/forex/market_alert/2020/09/24/australian-dollar-outlook-aud-usd-drops-to-fresh-two-month-low.html $AUDUSD $AUD #FX #Forex #Trading https://t.co/HJqlMqAvt2
  • $USDCNH reversing lower after bursting over 1.5% from the yearly low. Could this be indicative of firming market sentiment? https://t.co/9CDc2Lukuc
  • Heads Up:🇬🇧 Gfk Consumer Confidence (SEP) due at 23:01 GMT (15min) Expected: -27 Previous: -27 https://www.dailyfx.com/economic-calendar#2020-09-24
  • IBEX 35 price action breaks down amid recent market volatility. Get your market update from @FxWestwater here:https://t.co/MX2O5yrAMy https://t.co/po5awA5AZP
  • FTSE Russell says China will be included in global bond index, as widely expected $CNH
Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

2020-09-15 02:00:00
Margaret Yang, CFA, Strategist
Share:

NASDAQ 100, ASX 200, STRAITS TIMES INDEX OUTLOOK:

  • Nasdaq 100 index gained 1.8%, boosted by vaccine hopes and Oracle’s potential deal with TikTok
  • Australia’s ASX 200 opens flat, oscillating around 5,900 while momentum turning bullish
  • Singapore’s Straits Times Index isn’t inspired by US tailwinds, finding support at 2,500

Nasdaq 100 Index Outlook:

The Nasdaq 100 index futures have retraced slightly at early Asia hours, after rising more than 1.8% on Monday. Sentiment has shown signs of improvement on Wall Street as Pfizer’s CEO signaled that a Covid-19 vaccine is “likely” to be deployed to the US public by the end of this year. Besides, US tech giant Oracle is in a potential deal to acquire TikTok’s US operations after Microsoft’s withdrawal. Oracle’s share price advanced 4% before a trading halt took place.

Starts in:
Live now:
Sep 27
( 22:09 GMT )
Join Day 1 of the DailyFX Summit discussing commodities
Key News Trading Events for the Week Ahead
Register for webinar
Join now
Webinar has ended

While Wednesday’s FOMC meeting and Thursday’s BOJ andBoE interest rate decisions are among the top events this week, there are some key data to be watched out for today. China’s August industrial production and retail sales are in particular focus.

Chinese industrial production is expected to continue its expansionary trajectory in August, with economists forecasting a 5.1% annualized pace of growth from a year ago. Retail sales growth remained in a soft patch, but is gradually recovering from negative territory in the recent months.

China Industrial Production YoY (%) – Forecast

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Source: DailyFX

China Retail Sales YoY (%) – Forecast

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Source: Bloomberg, DailyFX

Sector-wise, all eleven S&P 500 sectors ended higher on Monday. The rally was led by real estate (+2.16%), information technology (+2.07%) and materials (+1.37%). Encouragingly, 88.7% of the components in the index closed higher.

S&P 500 Index Sector performance 14-9-2020

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Source: Bloomberg, DailyFX

Technically,the Nasdaq 100 has found a strong support at 11,070 - the 23.6% Fibonacci retracement - and has since rebounded (chart below). Holding above this level may pave way for further upside towards the immediate resistance level of 11,660 – the 20-Day Simple Moving Average (SMA). The RSI indicator has retraced back to neutral levels from an overbought territory above 70.0. This suggests that near-term selling pressure is fading.

Nasdaq 100 IndexDaily Chart

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

ASX 200 Index Outlook:

Positive sentiment from the Wall Street overnight may lift Australian stocks, which have already registered decent gains on Monday. Today’s Chinese data is likely to set the tone for ASX 200 trading in the mid-day. It may also spook some volatility in AUD/USD pair, which has been ranging within a tight zone between 0.725 to 0.730 recently.

Technically, the ASX 200 index has found a strong support at 5,850 and has since rebounded (chart below). The MACD indicator is likely to form a “Bullish Crossover” if the index continues to climb in the days to come.

ASX 200 Index – Daily Chart

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?

Straits Times Index Outlook:

Singapore’s Straits Times Index (STI) failed to follow the broader market rally on Monday and closed marginally lower on Monday. STI’s performance this year is largely lagging behind its global peers, perhaps due to poor fundamentals and a lack of technology players. Its relatively cheap valuation, however, may serve to cushion the downside.

Technically, the STI has found a strong support at around 2,500. It has formed a “Descending Triangle” on the daily chart, trending lower since early June. The MACD indicator, however, has likely formed a bullish “MACDConvergence” as the MACD formed “higher lows” while stock prices drifted lower. The STI needs some positive catalysts to attempt for a meaningful breakout.

Straits Times Index Daily Chart

Nasdaq 100, ASX 200, Straits Times Forecast: Will This Rebound Last?
Building Confidence in Trading
Building Confidence in Trading
Recommended by Margaret Yang, CFA
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.

DISCLOSURES