USA100, Daily


US equity markets are being led lower by the tech-heavy USA100 which is down 1.17% within 30 minutes of the open today. Yesterday’s sell-off, triggered by the ISM data and Trump tweets regarding Latin American Steel imports, is being compounded and accelerating from more Trump comments that the US-China trade deal (even Phase 1) may not be signed until after the 2020 US elections in November.  Reports from Fox News (the President’s favourite media outlet) are also swirling that the December 15th tariff hikes on the final range of Chinese imports in the US (which the markets had been anticipating were not being implemented) are still planned and scheduled. However, “if Phase One trade deal gets on paper or something else positive happens the President could choose not to impose tariffs” – Edward Lawerence Fox News.

Yesterday saw all the key global equity markets either testing or breaching the key 20-day simple moving average, spurring profit taking from the September-November rally.  The USA100 broke the 20-day moving average October 11, representing a 36 consecutive day rally to all-time highs over 8540. Today’s close will be key for further direction.

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

Analysis feed

Latest Forex Analysis

Editors’ Picks

GBP/USD off 7-month highs, still firmer as Tories hold the lead

GBP/USD retraces from the new seven-month highs of 1.3180 but remains strongly bid, as weekend polls have reaffirmed a solid lead for PM Johnson's Conservatives. Cable dropped on Friday amid upbeat US data.


EUR/USD steadying above 1.1050 amid upbeat German export data

EUR/USD is trading above 1.1050, attempting a recovery after Germany reported an increase in exports in October. EUR/UDS dropped sharply on Friday amid upbeat US Non-Farm Payrolls and weak German industrial output. 


Forex Today: US-Sino trade tensions prevail, Boris closer to victory, EUR/USD licking its wounds

Trade talks: President Donald Trump has called on the World Bank to stop lending to China, a move that may aggravate tensions, with only six days to go until Washington is set to slap new tariffs on Beijing. Negotiations continue.

Read more

Gold clings to modest gains above $1460 level, lacks follow-through

The latest NFP report surpassed most optimistic estimates, which provided a goodish intraday lift to the US dollar and eventually prompted some aggressive selling around the dollar-denominated commodity.

Gold News

USD/JPY in search of a firm direction, stuck in a range above mid-108.00s

USD/JPY was seen oscillating in a narrow band and consolidated last week’s losses. US-China trade uncertainties continued underpinning the JPY’s safe-haven status. Investors now seemed reluctant ahead of the latest FOMC monetary policy update.


Forex Majors