Here are some insights from the currency strategists at dailyfx.
They cover the fundamentals and technicals of key Forex pairs and other
key markets along with some of the key economic news of the day.
Today's commentary looks at the Macro themes in play this week:
Ahead of the Curve provides you with analysis and insight into today's global financial markets. The latest news and views from global stock, bond, commodity and FOREX markets are discussed.
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Tuesday, 10 January 2017
Monday, 9 January 2017
Daily Forex Insight
Here are some insights from the currency strategists at dailyfx.
They cover the fundamentals and technicals of key Forex pairs and other
key markets along with some of the key economic news of the day.
Today's commentary looks at two currencies that could be the subject of trade wars this year, the Chinese Yuan and the Mexican Peso:
Sunday, 8 January 2017
Market Signals for the US stock market S and P 500 Index and Indian Stock Market Nifty Index for the Week beginning January 9
|
Indicator
|
Weekly
Level / Change
|
Implication
for
S
& P 500
|
Implication
for Nifty*
|
|
S
& P 500
|
2277, 1.70%
|
Bullish
|
Bullish
|
|
Nifty
|
8244, 0.71%
|
Neutral**
|
Bullish
|
|
China
Shanghai Index
|
3154, 1.63%
|
Bullish
|
Bullish
|
|
Gold
|
1173, 1.88%
|
Bullish
|
Bullish
|
|
WTIC
Crude
|
53.99, 0.50%
|
Bullish
|
Bullish
|
|
Copper
|
2.55, 1.62%
|
Bullish
|
Bullish
|
|
Baltic
Dry Index
|
963, 0.21%
|
Neutral
|
Neutral
|
|
Euro
|
1.053, 0.08%
|
Neutral
|
Neutral
|
|
Dollar/Yen
|
116.97, -0.29%
|
Neutral
|
Neutral
|
|
Dow
Transports
|
9104, 0.67%
|
Bullish
|
Bullish
|
|
High
Yield (ETF)
|
36.74, 0.80%
|
Bullish
|
Bullish
|
|
US
10 year Bond Yield
|
2.34%, -1.14%
|
Bullish
|
Bullish
|
|
Nyse
Summation Index
|
577, 24.75%
|
Bullish
|
Neutral
|
|
US
Vix
|
11.32, -19.37%
|
Bullish
|
Bullish
|
|
20
DMA, S and P 500
|
2261, Above
|
Bullish
|
Neutral
|
|
50
DMA, S and P 500
|
2205, Above
|
Bullish
|
Neutral
|
|
200
DMA, S and P 500
|
2141, Above
|
Bullish
|
Neutral
|
|
20
DMA, Nifty
|
8121, Above
|
Neutral
|
Bullish
|
|
50
DMA, Nifty
|
8202, Above
|
Neutral
|
Bullish
|
|
200
DMA, Nifty
|
8274, Below
|
Neutral
|
Bearish
|
|
India
Vix
|
14.91, -3.57%
|
Neutral
|
Bullish
|
|
Dollar/Rupee
|
68.15, 0.28%
|
Neutral
|
Neutral
|
|
Overall
|
S
& P 500
|
Nifty
|
|
|
Bullish
Indications
|
13
|
13
|
|
|
Bearish
Indications
|
0
|
1
|
|
|
Outlook
|
Bullish
|
Bullish
|
|
|
Observation
|
The
S and P 500 and the Nifty rallied last week. Indicators are bullish.
The
Trump bounce is largely over. Time to watch those stops.
|
||
|
On
the Horizon
|
China
– Loan data, CPI, U.S – Retail sales, U. Mich. Consumer confidence
|
||
|
*Nifty
|
India’s
Benchmark Stock Market Index
|
||
|
Raw
Data
|
Courtesy
Google finance, Stock charts, dailyfx.com
|
||
|
**Neutral
|
Changes less than 0.5% are considered
neutral
|
The S and P 500 and the Nifty rallied last week. Signals are at bullish extremes for the upcoming week. The FED rate hike is yet to be priced in and sentiment indicators are back in complacent mode. Transports are beginning to under perform. Bond yields have made a dramatic surge up and risky segments of the market like emerging markets are breaking down on broad dollar strength. The critical levels to watch are 2290 (up) and 2260 (down) on the S & P and 8300 (up) and 8150 (down) on the Nifty. A significant breach of the above levels could trigger the next big move in the above markets. You can check out last week’s report for a comparison. Love your thoughts and feedback.
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