Nasdaq 100 wins, ASX 200 faces RBA rate decision as Australian bond yields rise

Nasdaq 100, Russell 2000, ASX 200, RBA – Asia Pacific Indices Report

Nasdaq 100, S&P 500, Dow Jones rise to Wall Street to start the week

Russell 2000 exceeds expectations of economic growth before the Fed

ASX 200 at risk of volatility amid RBA rate decision and YCC comments

Summary of Monday’s Wall Street trading session

Benchmark Wall Street stock indices rose slightly on Monday, as the Nasdaq 100, Dow Jones and S&P 500 futures rose 0.35%, 0.27% and 0.19%, respectively. Small-cap stocks outperformed the overall market, with Russell 2000 futures up 2.57%. upbeat mood for traders comes as more than 80% of S&P 500 companies saw third-quarter earnings estimates, according to Bloomberg.

Turnover in small-cap stocks could be a sign that traders are more confident in the economic recovery. se tend to be more cyclically focused, sensitive to fluctuations in growth. sharp drop in US GDP growth during the third quarter could perhaps explain why the Russell has spent the last few months in a state of consolidation.

However, this week could be volatile for global stock markets. Federal Reserve is expected to begin reducing its monthly business purchases. High inflationary pressures have rapidly increased expectations of rate hikes for 2022. This week will also end with nonfarm payroll data, where traders will take a close look at earnings data. latter may continue to reveal where inflation is heading in the country.

Nasdaq 100 technical analysis

Even as the Nasdaq 100 closed at a new high, prices lagged behind the Hanging Man Model Candlestick. This is a sign of indecision that could suggest a high within an uptrend. Further progress down from here could confirm the Hanged Man, opening the door to a lower swing. One more bullish golden cross has emerged between the 20-50 day SMA. This suggests a broader technical bias to the upside. This leaves the index facing conflicting technical knowledge.

Nasdaq 100 – Daily Chart «/>

Read also EUR / USD outlook turns bearish again

Chart created in TradingView

Tuesday Asia Pacific trading session

bullish day on Wall Street could bode well for the Asia-Pacific trading session on Tuesday. risk of high-level events is likely to come from the Reserve Bank of Australia’s November monetary policy announcement. Last week, the central bank refrained from limiting the rally in government bond yields to the start. This probably suggests an upcoming change in your yield curve control policy.

Australian stock market benchmark, ASX 200, remains around June levels, likely due to a combination of slowing economic growth and anticipated political bets from the RBA. first is due to the nation’s struggle with the Delta Covid variant, which the country now appears to overcome. A more aggressive RBA is likely to induce volatility in the ASX.

ASX 200 technical analysis

ASX 200 struggled to keep moving higher above a short-term downtrend line since August. However, the 200-day SMA continues to indicate a broader technical uptrend. In case of losses, keep an eye out for the 7207 – 7167 support zone. extension of gains from September results in a push above 7480 towards the all-time high at 7650.

ASX 200 – Daily Chart

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Read also price of gold is liable to rebound in US Treasury yields.

Chart created in TradingView

– Written by Daniel Dubrovsky, Strategist for

To contact Daniel, use the comment section below or @ddubrovskyFX at

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