Asian markets may have put in a robust session, but despite reasons for optimism, the cheer isn’t carrying over to US futures. Jerome Powell laid out a cautious path over rate policy yesterday and his view was arguably a little more bullish than that of the underlying market, something which is adding a degree of downside pressure for stocks. US building starts also came in below expectations, again providing fresh cause for concern over the economic outlook given the significance this print has as a forward looking indicator. The imminent meeting between Donald Trump and Kim Jong Un along with hopes of progress here is also favouring Asian markets over US counterparts, whilst news of a deal with China being close and the accompanying inertia on Wall Street also suggests that Beijing may be the real victor here.

Economic data is picking up a little as the month end approaches and US factory orders for December could throw a surprise in here, given last week’s miss with the durable goods print. Again another shortfall would have the potential to ask more questions over the real state of the US economy and in turn put further pressure on stocks.

Ahead of the open we’re calling the DOW down 108 a 25950 and the S&P down 11 at 2783.

The information provided here has been produced by third parties and does not reflect the opinion of AxiTrader. AxiTrader has reproduced the information without alteration or verification and does not represent that this material is accurate, current, or complete and it should not be relied upon as such. The Information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy. Readers should seek their own advice. Reproduction or redistribution of this information is not permitted.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD trades at fresh September lows

Risk-aversion is the main theme this Monday, amid resurgent coronavirus cases in the Old Continent and the announcement of  new lockdowns. ECB’s Lagarde said the economic recovery in the EU is “very uncertain, uneven and incomplete.”


GBP/USD extends slump sub-1.2800

The Pound plunged on a dismal market mood, as PM Johnson acknowledged the kingdom is undergoing a second coronavirus wave. GBP/USD trades at one-week lows around 1.2800.


XAU/USD bullish bias starting to fade

Gold prices are testing the bull's commitments at the support structure around $1,906 in what could be a final test before the next leg higher of the bullish trend.

Gold News

Bitcoin needs to defend critical support level at $10,600

Bitcoin was trading inside an ascending triangle pattern between September 3 and September 15, which is created when the price establishes higher lows and a horizontal trendline around the swing highs. 

Read more

WTI plummets to $39, down more than 4%

Crude oil prices closed the previous week sharply higher but erased a large portion of those gains on Monday. As of writing, the barrel of West Texas Intermediate was down 4.2%, the biggest daily percentage decline in nearly two weeks, at $39.15.

Oil News

Forex Majors