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.



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
Please try again
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
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here:
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • What is your forex trading style? Take the quiz and find out:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Get your weekly $EUR forecast from @MartinSEssex here:
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here:
Nasdaq 100 Pulls Back as Retail Sales Miss, Asia-Pacific to Extend Lower

Nasdaq 100 Pulls Back as Retail Sales Miss, Asia-Pacific to Extend Lower

Margaret Yang, CFA, Strategist


  • Dow Jones, S&P 500 and Nasdaq 100 indexes closed -0.79%, -0.71% and -0.91% respectively
  • US retail sales growth contracted by 1.1% MoM in July, missing market expectations
  • The FOMC meeting minutes will be in focus today. APAC markets look set to follow lower

Nasdaq 100, US Retail Sales, FOMC Minutes, Asia-Pacific at Open:

Wall Street stocks ended broadly lower on Tuesday, with cyclically-oriented consumer discretionary (-2.31%), materials (-1.21%) and industrials (-1.06%) leading the decline. Defensive-linked healthcare (+1.12%), real estate (+0.14%) and consumer staples (+0.04%) outperformed. This may be attributed to profit-taking after the release of US retail sales growth figures, which fell largely short of market expectations.

US retail sales contracted 1.1% MoM last month, compared to a -0.3% estimate. This suggests that the stimulus- and reopening-fueled economic rebound is probably losing steam. A automobile supply shortage and Delta variant may have also contributed to the decline, pointing to tepid growth outlook in the third quarter. This gave traders a valid reason to offload some unrealized profit, pulling indices from their record territory.

Looking ahead, investors are waiting for the release of FOMC meeting minutes for details about the Fed’s take on inflation and labor market conditions. Although minor changes may be observed from the previous month’s version, market participants are still keen to find clues about when the Fed plan to start tapering.

Chinese equities listed in the US exchanges tumbled again after Beijing ramped up regulatory clampdowns. The USSEC imposed stricter rules on Chinese IPOs earlier this week. Alibaba, Baidu and JD.COM were among the worst performers.

Top 10 Nasdaq 100 Constituent Performance 17-08-2021

Nasdaq 100 Pulls Back as Retail Sales Miss, Asia-Pacific to Extend Lower

Source: Bloomberg, DailyFX

Asia-Pacific marketslook set to open on the backfoot. Futures in mainland China, Australia, Hong Kong, South Korea, Taiwan, Singapore and India are in the red, whereas those in Japan, Malaysia and Thailand are in the green.

Looking ahead, the RBNZ interest rate decision lead the economic docket alongside UK and Eurozoneinflation data. Find out more from the DailyFX calendar.

Nasdaq 100 Index Technical Analysis

The Nasdaq 100 index has likely entered a consolidative phase, hesitating to breach a key resistance level at 15,300 – the 127.2% Fibonacci extension. Prices breached the 20-day SMA line, exposing the next support level at 14,800 – the 100% Fibonacci extension. The bearish MACD indicator suggests that upward momentum may be fading.

Nasdaq 100 Index Daily Chart

Nasdaq 100 Pulls Back as Retail Sales Miss, Asia-Pacific to Extend Lower

Nikkei 225 Index Technical Analysis:

The Nikkei 225 index remains in a “Descending Channel” formed since February. The floor and ceiling of the channel may be viewed as immediate support and resistance levels respectively. The overall trend remains bearish-biased, as suggested by the downward-sloped SMA lines. The MACD indicator formed a bearish crossover beneath the neutral midpoint, suggesting that selling pressure may be resuming.

Nikkei 225 Index – Daily Chart

Nasdaq 100 Pulls Back as Retail Sales Miss, Asia-Pacific to Extend Lower

ASX 200 Index Technical Analysis:

The ASX 200 index pulled back sharply to test an immediate support level at 7,500 – the previous resistance. The overall trend remains bullish-biased, as suggested by the consecutive higher highs and higher lows formed over the past few months. The MACD indicator formed a bearish crossover after hitting the trendline resistance, suggesting that selling pressure may be prevailing.

ASX 200 Index – Daily Chart

Nasdaq 100 Pulls Back as Retail Sales Miss, Asia-Pacific to Extend Lower

--- Written by Margaret Yang, Strategist for

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

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