2019-11-11 • Updated
US stocks eased substantially after investors shifted to safe-haven assets on the rising US tensions with Russia, North Korea, and Syria. On Wednesday, US equities extended their losses after Trump’s comments on the US dollar and interest-rate policy. Market participants have become concerned with the fact that recent geopolitical developments might distract US President from pursuing pro-business policies (tax cuts, deregulation, higher infrastructure spending) he promised to deliver in the course of the election campaign.
We also need to note here that the passage of pro-growth policies is hindered by a parliamentary branch of power. A failure to repeal Obamacare bill has raised doubts about Trump’s negotiating skills. Now, it is not clear whether he manages to overhaul taxes, loosen Wall Street regulations and increase infrastructure spending and other policies that boosted Wall Street to its record highs.
At the present moment, the S&P 500 is trading mostly sideways within the range of 2321.90 – 2380 seeking for new market drivers to rally to the new highs/slump to the new lows. On the upside, there is a strong hurdle at 2400.32 (S&P 500 historical high) that will unlikely be hit again in the near term. There is a scope for a further downfall, however, towards 2320 (the lower border of the aforementioned consolidation range).
The Dow Jones Industrial Average was down to 20,590 as investors departed from high-risk financial assets. A further downfall to 20,400 (March 27 low) is not ruled out until we get additional clarifications on Trump’s pro-growth policies.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
