News & Analysis
Major sell-off in Oil, Nasdaq rallies as bond yields fall
Oil prices saw a significant sell-off, down 4.6% to $85.3 on fears of slower economic growth and signs that supply will soon pick up. Nasdaq took its cue from a modest bond rally, with 10-year yields back at 4.74%. The dollar weakened. But for how long? Higher bond yields are becoming widely anticipated. Bottom line: risk-on.
S&P 500 analysis: Top 4 oversold stocks to watch
The S&P 500 is lingering at 4-month lows and is the most oversold it has been in over a year. We look at some of the most oversold stocks to watch.
Nasdaq 100 Forecast Stocks rise as ADP payrolls drop sharply
US stocks point to a stronger start after steep losses yesterday. Weaker than expected US ADP payrolls suggests that some weakness is seeping into the labour market ahead of Friday's NFP. Yields has eased lower from the 16 year high reached on bets that the Fed will keep rates higher for longer. US ISM services data is due shortly and could provide further clues over the resilience of the US economy.
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Reddit Stocks: What meme stocks are trending today? – October 4, 2023
What stocks are being discussed and traded today, and which ones are experiencing the sharpest moves before the bell?
EUR/USD analysis: Euro finds relief ahead of key US data
The euro rose across the board this morning after the services PMI for several countries in the Eurozone were surprisingly revised higher. But a sharp drop in Eurozone retail sales reminded investors the troubles facing the Eurozone economy, and that the single currency is not out of the woods yet. The EUR/USD had climbed above the 1.05 handle where it was testing a key resistance area ahead of the release of key US data.
GBP/USD, Oil Forecast: Two Trades to Watch
GBP/USD falls to a fresh 6-month low with PMI data due. Oil resumes its decline of OPEC+ meeting.
EUR/USD looks at 1.04, DAX considers break of 15k: European open – 04/10/2023
EUR/USD and DAX edged their way to new lows during trade, although the lack of market volatility leaves it up in the air as to whether prices may try to bounce today, or simple extend their losses. Key levels await for both markets, regardless.
Nasdaq resilience built on hype and extrapolation of near-term trends
This is not the type of environment where dip-buying is likely to be a winning strategy on any timeframe other than the ultra-short-term.
NZD/USD turns lower as the RBNZ hold rates once more
NZD/USD's break above 60c ahead of the RBNZ's announced that they held rates at 5.5% again was shortly lived, and momentum has turned decisively lower. Ans there could be further downside to come.
Nikkei 225: Important day for Japanese stocks as slide stalls at key support
Nikkei 225 sits on a major support, making near-term price action potentially important for its longer-term trajectory.
Gold, WTI crude oil Q4 outlook
The surge in bond yields finally began to take its toll on gold prices as the end of gold with, with gold falling against basket of currencies alongside the US dollar. And that paints a grim picture for bulls at the beginning of Q4. Yet it has been a very different story for WTI crude oil which has rallied 30% in Q4. But can we really expect a similar performance in Q4?
USD/JPY falls on apparent BOJ intervention, ASX hits 6-month low: Asian Open
A surge of yen strength shook currency markets when USD/JPY crossed above 150, prompting calls that the BOJ had finally intervened after much warning. Whether they have remains to be confirmed by officials, but the -290 pip fall in five minutes suggests they likely have.
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