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.

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
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.94%, while traders in EUR/USD are at opposite extremes with 71.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wSWdSw9NMi
  • WTI crude oil price action has been quite volatile today around Iran nuclear deal talks. The commodity is currently down -1.2% on the session after falling as much as -4.3% from intraday highs. #OOTT $CL_F $USO https://t.co/IPeHsxVYO8
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: -0.14% FTSE 100: -0.17% Wall Street: -0.21% Germany 30: -0.22% France 40: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7ak6BIkvMw
  • Biden administration delays revamp of Trump's blacklist for China investments -BBG $USDCNH $SHCOMP
  • $EURUSD breakout stalled (so far) around the same spot that caught the feb top fib from the same study that caught the low in march (at the 38.2) https://t.co/ikWed0YfwE https://t.co/OfvmSW2V4S
  • The USD/CAD breakdown has stalled into lateral technical support at 1.2048/61 and the focus is on a reaction off this mark. Get your $USDCAD @MBForex here:https://t.co/LMTzDyI1df https://t.co/hD74PjjJHk
  • US Dollar Outlook: DXY Index Hammered as Treasury Yields Ebb -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2021/05/18/us-dollar-outlook-dxy-index-hammered-as-treasury-yields-ebb.html $USD $DXY #Trading https://t.co/2zVfDWI5Y7
  • AUD/USD attempts to retrace the decline following the update to the US Consumer Price Index (CPI) as it bounces back from the 50-Day SMA (0.7715). Get your $AUDUSD market update from @DavidJSong here:https://t.co/EIQ7utBH9A https://t.co/RcWf6JgYX5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.64%, while traders in EUR/USD are at opposite extremes with 70.33%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/EhQn4EqJYE
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.06% Gold: -0.03% Oil - US Crude: -1.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ALjM4GEwOj
Dow Jones Rebounds at 23.6% Fibonacci Level, Nikkei 225, ASX 200 Climb

Dow Jones Rebounds at 23.6% Fibonacci Level, Nikkei 225, ASX 200 Climb

Margaret Yang, CFA, Strategist

DOW JONES, NIKKEI 225, ASX 200 INDEX OUTLOOK:

Dow Jones Index Outlook:

Dow Jones Industrial Average index (Dow) futures climbed during early Asia hours after registering a small gain on Thursday. The US weekly jobless claim number came in at 870k, in line with expectations. This marked a fourth consecutive weekly reading below 1 million mark, but the rate of improvement in the jobs market appears to have slowed recently. Next Friday’s non-farm payroll reading will be closely monitored by market participants for more clues.

Please add a description for the image.

source: DailyFX, Bloomberg

Asia-Pacific markets may enjoy a relief rebound on Friday, following positive leads from the US session. Traders face a relatively quiet calendar day, with the US durable goods order among top market events. Read more on our economic calendar website.

The US Dollar Index (DXY) has retraced to 94.38 from 94.65 this morning, alleviating pressure over precious metal and crude oil prices. The VIX volatility index has fallen back to around 32.4 as stocks rebounded. This, however, seems to be a temporary relief as concerns remain on a stalling US fiscal stimulus package, and climbing coronavirus cases in Europe.

Overnight trading displayed a fairly balancedsectoral pattern, with financials (+1.89%), consumer staples (+0.5%) and information technology (+0.48%) outperforming, whereas materials (-0.71%), industrials (-0.57%) and consumer discretionary (-0.34%) lagging.

Dow Jones Index Sector performance 24-9-2020

Dow Jones Rebounds at 23.6% Fibonacci Level, Nikkei 225, ASX 200 Climb

Source: Bloomberg, DailyFX

Technically,the Dow has rebounded from the 23.6% Fibonacci retracement level at 26,600, which may serve as an immediate support. The 20-Day Simple Moving Average (SMA) line is about to cross below the 50-Day SMA, potentially forming a “Death Cross”. The MACD momentum indicator remains in bearish setup, which suggests that there might be more consolidation ahead. A bullish “AB=CD” pattern is emerging in the daily chart.

Dow Jones IndexDaily Chart

Dow Jones Rebounds at 23.6% Fibonacci Level, Nikkei 225, ASX 200 Climb

Nikkei 225 Index Outlook:

Japan’s Nikkei 225 index was ranging between 22,700 to 23,500 for the past few weeks, with a weaker Japanese Yen helping to cushion external headwinds. Immediate support levels could be found at 50-Day and 100-Day SMA lines, at 22,980 and 22,750 respectively.

Nikkei 225 Index – Daily Chart

Dow Jones Rebounds at 23.6% Fibonacci Level, Nikkei 225, ASX 200 Climb

ASX 200 Index Outlook:

Australia’s ASX 200 index opened 0.8% higher, attempting to challenge the upper ceiling of the “Descending Channel”. The short-term trend of the ASX 200 index appears biased towards the downside, as its 50-Day DMA has likely crossed below the 100-Day, potentially forming a bearish crossover. An immediate support level can be found at 5,780 – the 23.6% Fibonacci retracement.

ASX 200 Index Daily Chart

Dow Jones Rebounds at 23.6% Fibonacci Level, Nikkei 225, ASX 200 Climb

--- 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