S&P 500, NIKKEI 225, ASX 200 WEEKLY OUTLOO:
- Dow Jones, S&P 500 and Nasdaq 100 indices closed on Friday -0.42%, -0.54% and -0.59% respectively
- China Securities and Exchange Commission calls for talks after US Securities and Exchange Commission (SEC) suspends Chinese IPO
- RBA, BOE interest rate decisions are in focus this weektogether with US non-agricultural wage data
Profit, SEC suspended Chinese IPO, NFP, Asia-Pacific week ahead:
S&P 500 index receded from an all-time high on Friday as investors worried that profits from large technology companies had risen reached a peak time March-June quarter. Intel, Apple, Netflix and Amazon warned investors slower growth rates or lower margins on the other side from this year, lowering share prices after the results were announced. pandemic winners will see their growth rates normalizing as economic reopening increases the demand for outdoor activities. There is also a shortage of chips in the world. Against this background, major US indices may exert some pressure as they seek to penetrate beyond record-breaking territory.
Minneapolis Central Bank President Neel Kashkar said on Sunday that Delta variant The Covid-19 virus can prevent some Americans from looking for work, damaging it labor market recovery. It makes Friday non-farm payroll the focus is where a 900k increase is expected (graph below). A major omission could strengthen and weaken the Federal Reserve’s attitudes US dollar, floating risk assets.
In China, the rapid spread of a highly contagious virus strain overshadows the country ‘s stellar performance during a pandemic. China on 75 new cases of coronavirus were reported on Sunday in more than 20 cities on Sunday, with the majority related to the Nanjing Airport cluster. Millions of people pass the Covid tests and travel restrictions have been imposed on the affected areas.
US non-farm wage forecast – 12 months
Source: Bloomberg, DailyFX
APAC markets The week begins with a mixed tone after the US Securities and Exchange Commission (SEC) suspended the initial public offerings of Chinese companies. China Securities and Exchange Commission wants to start negotiations with the SEC to find a suitable solution. Futures were higher in Japan, Australia, South Korea, Taiwan, Singapore and India. However, mainland China, Hong Kong, Malaysia and Thailand are located.
For the coming week, RBA and BoE interest rate decisions dominate the economic document alongside U.S. non-farm payroll. For more information, visit DailyFX calendar.
Looking back at the end of Friday, 7 of the S&P 500 sectors ended below 11, with 58% of index voters closing in the red. At the discretion of consumers (-2.78%), energy (-1.76%) and utilities (-0.87%) had the worst results, while materials (+ 0.40%) and real estate (+ 0.32%) were better.
S&P 500 Performance of the sector 30.07.2021
Source: Bloomberg, DailyFX
S&P 500 index technical analysis
The S&P 500 index exceeded significant resistance above 4290 and rose above, cutting price increases to higher levels. The general upward trend remains intact, as recommended by the Ascending Channel. The next resistance level can be found at 4650 – 161.8% Fibonacci extension. Withdrawal may lead to immediate support testing of 20- and 50-day SMA lines.
S&P 500 Index – Everyday Diagram
Technical analysis of the Hang Seng index:
Hang Seng’s index broke the declining triangle pattern, entering a deep retraction. The immediate support level is 24,850 – 78.6% Fibonacci retracement. The general trend is still bearish as suggested by the downward SMA lines. The MACD indicator is falls below the neutral midpoint, suggesting that bear momentum may be dominant.
Hang Seng Index – Everyday Diagram
ASX 200 Technical analysis of the index:
The ASX 200 index exceeded the upper limit of the range restricted zone, opening the door to further upside potential by looking at 7,500 eyes. The overall trend remains bullish, as suggested by the successive higher and lower rises in recent months. The MACD indicator showed an upward trend and rose higher, indicating that the rate of increase is gaining momentum.
Index ASX 200 – Everyday Diagram
– Wrote DailyFX.com strategist Margaret Yang
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