Nasdaq 100 Goals For All-Time Highs, Will Hold Seng and ASX 200 Observe?

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Nasdaq 100 Goals For All-Time Highs, Will Hold Seng and ASX 200 Observe?

NASDAQ 100, HANG SENG, ASX 200 INDEX OUTLOOK:Dow Jones, S&P 500 and Nasdaq 100 closed +0.17%, +0.42% and +1.04% respectively


NASDAQ 100, HANG SENG, ASX 200 INDEX OUTLOOK:

  • Dow Jones, S&P 500 and Nasdaq 100 closed +0.17%, +0.42% and +1.04% respectively
  • Powell reiterated his dovish stance and calmed market’s inflation concern in an IMF seminar. The US Greenback fell alongside 10-year yields, buoying the know-how sector
  • ASX 200 opened decrease whereas the Hold Seng might prolong greater amid tech rebound
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Powell Speech, Yields, US Knowledge, Tech Rebound, Asia-Pacific at Open:

The Nasdaq 100 index approached its all-time highs as Fed Chair Jerome Powell reiterated his dovish stance in an IFM seminar. Powell mentioned upward stress on costs will seemingly be “momentary” and the central financial institution would react if inflation expectations transfer “persistently and materially above ranges” they’re comfy with. His remark echoed the FOMC minutes launched earlier, by which the central financial institution dedicated to help the financial restoration with accommodative insurance policies.

Powell’s dovish rhetoric calmed market inflation fears, sending the 10-year Treasury yields decrease. The speed fell 6.2 bps, or 3.7% on Thursday to a two-week low of 1.614%. This marks the primary time the 10-year yield fell under its 20-day SMA line since January 25th, opening the door for additional draw back potential. Falling longer-term charges might alleviate stress on non-yielding treasured metals and threat property basically, as risk-free charges (discounting charges) drop.

The DXY US Greenback index fell 0.38% to 92.07, buoying treasured metallic costs. Gold breached above a key resistance degree of US$ 1,744 and signaled the completion of a “Double Backside” chart sample.

US Treasury Yield Curve – 1 Week Change

Nasdaq 100 Aims For All-Time Highs, Will Hang Seng and ASX 200 Follow?

Supply: Bloomberg, DailyFX

A powerful rebound within the tech sector in a single day might enhance sentiment in Asia-Pacific markets, with futures throughout Japan, mainland China, Taiwan, Singapore and India pointing to open greater. The Nasdaq rally might result in a rebound in know-how shares throughout the APAC area, particularly these listed in Hong Kong. The Hold Seng Index (HSI) suffered a major pullback throughout mid-February to the tip of March because the know-how sector underperformed. An improved threat urge for food would seemingly revitalize this sector.

Australia’s ASX 200 index opened down -0.25%, dragged by data healthcare (-0.78%), supplies (-0.31%) and vitality (-0.22%) sectors, whereas data know-how (+0.61%) and utilities (+0.40%) outperformed.

On the macro facet, Chinese language inflation information headlines the financial docket alongside German steadiness of commerce and Canadian employment change. The US weekly jobless claims information missed market expectations final evening, pointing to an uneven restoration within the labor market. Some 744ok unemployment claims have been filed within the week ending April 3rd, in comparison with a 680ok forecast. Discover out extra from the DailyFX calendar.

Wanting again to Wednesday’s shut, 6 out of 11 S&P 500 sectors ended greater, with 50.7% of the index’s constituents closing within the inexperienced. Data know-how (+1.42%), shopper discretionary (+0.48%) and industrials (+0.21%) have been among the many finest performers, whereas vitality (-1.36%) and actual property (-0.56%) trailed behind.

S&P 500 Sector Efficiency 08-04-2021

Nasdaq 100 Aims For All-Time Highs, Will Hang Seng and ASX 200 Follow?

Supply: Bloomberg, DailyFX

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Nasdaq 100 Index Technical Evaluation

The Nasdaq 100 index has seemingly fashioned an inverse “Head and Shoulders” sample, which can function a robust bullish reversal indicator. The index is transferring nearer to its all-time highs at 13,807 seen on February 12th. Breaking above this degree would seemingly intensify near-term shopping for stress and open the door for additional upside potential in direction of 14,023 – the 127.2% Fibonacci extension. The MACD indicator is trending up after forming a bullish crossover, underscoring upward momentum.

Nasdaq 100 Index Each day Chart

Nasdaq 100 Aims For All-Time Highs, Will Hang Seng and ASX 200 Follow?

Hold Seng Index Technical Evaluation:

The Hold Seng Index (HSI) breached above the “Descending Channel” as highlighted within the chart under, signaling a near-term development reversal. The worth is dealing with a right away resistance degree of 29,284 – the 50-day SMA line. A each day shut above this degree might open the door for upside potential with an eye fixed on 29,500 – the 38.2% Fibonacci extension. The MACD indicator is trending decrease beneath the impartial midpoint, underscoring downward momentum.

Hold Seng IndexEach day Chart

Nasdaq 100 Aims For All-Time Highs, Will Hang Seng and ASX 200 Follow?

ASX 200 Index Technical Evaluation:

The ASX 200 index breached above the ceiling of the “Ascending Channel” that fashioned because the finish of November, and thus opened the door for additional upside potential. A each day shut above 6,935 – the 200% Fibonacci extension degree – would seemingly intensify near-term shopping for stress and pave the way in which for additional upside potential in direction of a psychological resistance at 7,000. The MACD indicator is trending greater above the impartial midpoint, suggesting that purchasing energy is build up.

ASX 200 Index – Each day Chart

Nasdaq 100 Aims For All-Time Highs, Will Hang Seng and ASX 200 Follow?

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