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
More View more
Real Time News
  • (ASEAN Fundy) US Dollar Forecast: Turning Point Reached? USD/SGD, USD/THB, USD/IDR, USD/PHP #USD $USDGSD $USDTHB $USDIDR $USDPHP
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • RT @mkraju: Manchin signaling he’s open to $1.75T for social safety net bill, per source briefed on matter, but it’s unclear where the pric…
  • Further your forex knowledge and gain insights from our expert analysts @JohnKicklighter and @JStanleyFX on $USD with our free Q4 market analysis guide, available for free today. #DailyFXGuides
  • RT @JournalistRoss: From CNN's @mkraju: The goal among Democratic leaders is to have a vote Wednesday or Thursday on the infrastructure pac…
  • *Reminder: Weekly Strategy Webinar tomorrow at 8:30am ET on @DailyFX !!
  • 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:
  • Wow Liverpool...
  • With the $SPX, Bitcoin and Fed 2022 rate forecasts pushing record highs; the heavy economic docket for the coming week will make for some loaded trading potential. The events and markets I'm looking at ahead:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
Nasdaq 100 May Rise on Temporary Debt Ceiling Relief, Nikkei 225 Eyes Support

Nasdaq 100 May Rise on Temporary Debt Ceiling Relief, Nikkei 225 Eyes Support

Daniel Dubrovsky, Strategist

Nasdaq 100, Nikkei 225, US Debt Ceiling, NFPs, Technical Analysis – Asia Pacific Indices Briefing

  • Nasdaq 100, S&P 500, Dow Jones gain as temporary debt ceiling increase looks likely
  • Treasury yields rose, may continue climbing ahead of Friday’s non-farm payrolls data
  • Nikkei 225 may take a break from aggressive losses, eyeing the floor of a rectangle

Wednesday’s Wall Street Trading Session Recap

US equities pulled off a rather rosy session, with the Nasdaq 100, S&P 500 and Dow Jones rising 0.71%, 0.46% and 0.32% respectively. Most of the gains occurred during the latter half of the session when reports crossed the wires that Senate Minority Leader Mitch McConnell offered Democrats an option to temporarily end the debt limit impasse until later in December.

That cooled US debt default woes for now, which have likely been contributing to the recent rise in market volatility. This is likely a temporary issue, more importantly, Treasury yields were also on the rise. In fact, they have been ever since last month’s Federal Reserve interest rate decision. As risks of a US debt default moves past markets, traders may start focusing back on monetary policy.

As such, bond yields may continue aiming higher as Friday’s non-farm payrolls report nears. That is the key event risk at the end of the week. Another materially softer jobs report may curtail the pace at which investors think that the central bank will taper asset purchases and eventually raise benchmark lending rates.

Nasdaq 100 Technical Analysis

The Nasdaq 100 may ready to reverse recent losses after prices confirmed a Bullish Harami candlestick pattern. This also followed a test of the 14367 – 14445 support zone. That has exposed the 14996 – 15172 inflection zone. Still, the index remains under both the 20- and 50-day Simple Moving Averages. These may come into play as resistance, pivoting the Nasdaq lower.

Nasdaq 100 – Daily Chart

Nasdaq 100 May Rise on Temporary Debt Ceiling Relief, Nikkei 225 Eyes Support

Chart Created in TradingView

Thursday’s Asia Pacific Trading Session

Futures tracking Wall Street are pointing higher heading into Thursday’s Asia-Pacific trading session. That could point to a fairly upbeat session for risk appetite. Mitch McConnel did note that he can’t predict if a deal will be stuck tonight on a temporary debt ceiling increase. Still, he added that a vote is possible on it over the next 24 hours.

The economic calendar is fairly light during the APAC session, which places the focus on general market sentiment. This could give the Nikkei 225 some breathing space as it heads for the worst 2-week performance since March 2020. Traders are likely fading expectations of more fiscal stimulus in the aftermath of Suga’s step down. Fumio Kishida, who is set to become Japan’s 100th prime minister, is likely seen as more of the status quo.

Nikkei 225 Technical Analysis

The Nikkei 225 continues to consolidate within a rectangular chart formation. Following a rejection of the ceiling at 30345 – 30725, prices dived towards the floor. The latter appears to be a range of support between 26860 and 27580. This could open the door to another bounce, extending the consolidation within the rectangle. Otherwise, a breakout lower exposes the 61.8% Fibonacci retracement at 25879.

Nikkei 225 – Daily Chart

Nasdaq 100 May Rise on Temporary Debt Ceiling Relief, Nikkei 225 Eyes Support

Chart Created in TradingView

--- Written by Daniel Dubrovsky, Strategist for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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