U.S. Equities Set to Open Higher; Weak Dollar Underpinning Gold
The weaker Greenback is helping to boost U.S. equity prices overnight, leading to the call for a higher opening. There is not much to say technically about the stock indices. The rallies have been labored, leading to periodic weakness, but investors have been waiting to buy the dips.
Dow Set to Open 100 Points Higher on Strong Global Risk Demand
The New Zealand Dollar fell for the second consecutive day following Monday’s bearish closing price reversal top formation. Wednesday’s decline was blamed on a drop in business confidence, but some traders attribute the weakness to position squaring ahead of tonight’s interest rate decision by the central bank.
Stocks, Commodities Set to Rise as China Loosens Currency
Stocks and commodities are set to surge today after China loosened its reins on the Yuan over the week-end. Although the timing of the move by China to allow its currency to appreciate against the Dollar came as a surprise, the action followed months of serious negotiations between the U.S. Treasury and the Chinese government.
Stocks Set to Open Better as Goldman Tensions Ease
U.S. equity markets are called better as tensions have eased regarding Goldman Sachs’ legal problems. Stock traders are also a little more optimistic because of the opening of some air routes in Europe. Technically, all three indices are currently retracing a little more than 50% of the recent decline. This is a key area as the markets are in positions to post secondary lower tops.
U.S. Equity Markets Set to Open Better; Continue to Expect Low Volume
Based on firm Asian equity markets, U.S. stock indices are called better, but traders should brace for another day of light volume and low volatility. The slightly weaker Dollar is lending some support to higher risk assets overnight, but traders seem reluctant to take a major position ahead of this Friday’s U.S. Jobs Data.
Dollar Set to Rally on Lower Demand for Risky Assets
A drop in Asian equity markets is leading to spillover selling in the U.S. markets. The follow-through to the downside overnight appears to be a continuation of the sharp break from the high on Friday. Concerns over a credit rating cut in the U.K. and the lack of a bailout plan for Greece are two reasons for the selling pressure.
Dollar Set Up for Short-Term Rally Following Reversal Bottom
The U.S. Dollar was able to mount a comeback after early session weakness. A lower than expected U.S. pending home sales report helped raise fears the Fed would once again leave interest rates at historically low levels and fueled increased demand for the Dollar as a safe-haven investment. Oversold conditions also contributed to today’s rally.