Monica Kingsley
Monicakingsley
S&P 500 slid right after the opening bell, and good incoming data didn‘t save it. Entry to new quarter after window dressing got over? Yes, and the issue was also in semis and tech in general. Even financials declined 0.5% - and these were among the better performing sectors. Defensives with communications (and financials) propping up S&P 500 in the days ahead? I‘m answering this question in the premium part.
Iran‘s response was another strong factor in yesterday‘s session – 5,730s held twice, but the spiral of escalation seems to be about to continue. Usually, that had triggered safe haven demand for Treasuries and select real assets – this time around, I don‘t see Treasuries as getting too positively affected, and gold with silver charts are diverging from oil, especially since Iranian oil facilities have been listed as one retaliation target. Politically and militarily, I see Mideast situation as getting considerably worse rather than better in the days and weeks ahead.
All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.
Recommended Content
Editors’ Picks
EUR/USD stays below 1.1100 after upbeat US data
EUR/USD struggles to gain traction and trades below 1.1100 in the second half of the day on Wednesday. The data from the US showed that employment in private sector rose at a stronger pace than forecast in September, supporting the USD.
GBP/USD remains on the backfoot below 1.3300
GBP/USD continues to trade below 1.3300 in the American session on Wednesday. US ADP Employment Change came in at 143,000 in September, surpassing the market expectation of 120,000 and making it difficult for the pair to stage a rebound.
Gold hovers around $2,660 after US opening
Spot Gold hovers around $2,650 a troy ounce on Wednesday, confined to a tight trading range amid a generally pessimistic market mood favoring both Gold and the US Dollar (USD).
Bitcoin holds above $61,000 after sell-off driven by escalating conflict between Israel and Iran
Bitcoin recovers slightly on Wednesday, trading above $61,000, after Tuesday’s slump due to the escalating Israel-Iran conflicts. The decline, which led BTC to trade below $61,000, wiped out more than $500 million from the crypto market.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.