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
Bearish
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
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
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
More View more
Real Time News
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/S74APOiQ3y
  • Two of the main Euro-pairs, $EURUSD and $EURGBP, are being driven by very different drivers. Get your market update from @nickcawley1 here: https://t.co/Vd32Y6HKEr https://t.co/Lgb5z5V1Xa
  • 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/9uPXNvDBS5
  • We ended this past week with another cliffhanger. The $SPX teeters on the edge of a breakdown from the post-pandemic recovery. While we have NFPs and other key data ahead, the markets are likely to remain fixated on yields. My outlook for next week: https://www.dailyfx.com/forex/video/daily_news_report/2021/02/27/SP-500-Dollar-Reversal-Hinge-Not-On-NFPs-but-Markets-Risk-Imagination.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/mlNDDyTgex
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/70ZOJ0ZMwF
  • 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/SyroornFf5
  • 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/ZNs4QhQGQ6 https://t.co/KrMcyZZqO7
  • The Reserve Bank of Australia (RBA) rate decision may spark a bullish reaction in $AUDUSD as the central bank is expected to retain the current course for monetary policy. Get your market update from @DavidJSong here: https://t.co/WbcR9ER0qT https://t.co/TynsqCtPQ6
  • Gold has broken below a critical support confluence we’ve been tracking for months now and the risk remains for further losses while below this threshold in the weeks ahead. Get your $XAUUSD market update from @MBForex here:https://t.co/xgN2obaIWR https://t.co/H71ufPNkPg
  • 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/QszmdZFxlk https://t.co/Evr5KgUjVo
Russell 2000 Gains, S&P 500 Wobbles Following President-elect Biden’s Stimulus Details

Russell 2000 Gains, S&P 500 Wobbles Following President-elect Biden’s Stimulus Details

Thomas Westwater, Analyst

Russell 2000, S&P 500, Treasury Yields, Biden Fiscal Stimulus Proposal – Talking Points

  • US equities trade mixed on President-elect Joe Biden’s $1.9 trillion stimulus plan
  • Small cap stocks outperform following news, Russell 2000 futures rise as S&P 500 wobbles
  • Passing plan through Congress is a top priority for incoming Biden administration
Top Trading Opportunities in 2021
Top Trading Opportunities in 2021
Recommended by Thomas Westwater
Get Your Free Top Trading Opportunities Forecast
Get My Guide

Markets are digesting President-elect Joe Biden’s stimulus plans after details surrounding the incoming administration’s economic agenda crossed the wires shortly after the New York closing bell. The incoming proposal calls for a $1.9 trillion aid package to combat the ongoing Covid-19 crisis, a figure that many Democrats pushed for last year during negotiations on prior relief bills. Treasury yields rallied into the announcement but struggled to find further momentum. The 10-year yield climbed as high as 1.134% before levelling off.

US equity index futures reacted mixed on the news. Small cap stocks appear to be trading exceptionally well to the announcement, with the Russell 2000 (E-mini futures) leading the move higher. The stimulus relief package is set to be a top priority for Congress once President-elect Biden is in office. The plan includes increased direct payments of $1,400 per individual, on top of the recently passed bipartisan relief bill granting $600 payments for certain individuals. Enhanced unemployment benefits, set to expire in mid-March, will also be included with the amount increasing from $300 to $400 and extending through the end of September.

It remains unclear if the plan will have enough support to move through Congress, particularly in the Senate. However, the recent wins in the Georgia runoff elections give Democrats a 50-50 vote if party lines are followed, but a tiebreaking vote from Vice President-elect Kamala Harris could secure passage of the bill. Details on Biden’s package also include increased funding to schools, small businesses, vaccination efforts, and state aid. A raise to the minimum wage to $15 per hour may see some strong resistance from Republicans along with the increased funding for state and local governments.

Russell 2000, S&P 500 E-mini Futures – 5 Min Chart

S&P 500, Russell 2000 stimulus chart

Chart created with TradingView

S&P 500 TRADING RESOURCES

--- Written by Thomas Westwater, Analyst for DailyFX.com

To contact Thomas, use the comments section below or @FxWestwateron Twitter

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

DISCLOSURES