Stronger Dollar As Risk Appetite Dims<\/h2>\n\n\n\n
Currency markets also echoed the shift in sentiment. The euro fell 0.3% to $1.1668, while the US dollar gained 0.4% against the Canadian dollar, rising to C$1.3704. Despite the bold announcement, the reaction was relatively measured as investors assessed whether the 1 August tariff implementation date would be enforced.<\/p>\n\n\n\n
Trump had previously issued a short delay earlier in the week. However, analysts, including Joseph Capurso from CBA, remain sceptical that further trade deals can be finalised in time.<\/a> If not, a substantial tariff hike looms next month, unless another postponement is quietly introduced.<\/p>\n\n\n\n The SP500 is retreating after printing a local high at 6296.05, with the index closing at 6258.80, down 0.39% intraday. This sharp drop comes after a steady grind higher throughout the 10th of July, but a late-session selloff triggered a clean break below short-term support near 6270, dragging prices toward the 6250 zone.<\/p>\n\n\n The 5- and 10-period moving averages have sharply turned lower, while the 30-period MA is flattening\u2014signalling a potential reversal or deeper pullback if support breaks. The MACD shows strong bearish divergence, with a steep drop in histogram bars and a cross below the signal line. Momentum is clearly fading after the recent rally.<\/p>\n\n\n\n Despite ongoing policy concerns, Wall Street had recently pushed to new records, with Nvidia\u2019s valuation surpassing $4 trillion. Now, however, attention is shifting to second-quarter earnings, beginning with JPMorgan Chase on Tuesday.<\/p>\n\n\n\n Traders will be closely watching whether companies have absorbed or passed on rising input costs linked to the ongoing trade disputes, which began in earnest back on 2 April. This earnings cycle could either validate recent market highs or trigger a correction if forward guidance proves underwhelming.<\/p>\n\n\n\n Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now.<\/strong><\/p>\n\n\n\n US equities pulled back on Friday after President Donald Trump broadened his trade offensive, this time targeting Canada and the European Union. The S&P 500 slipped to 6,258.80 by the close, reversing sharply from its intraday peak of 6,296.05, a drop of 0.39%, as market sentiment turned during the early US session. The downturn mirrored Continue Reading<\/a><\/p>\n","protected":false},"author":92,"featured_media":20930,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-20926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\n\t\tTechnical Analysis<\/h2>\n\n\n\n
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Earnings Season Looms: Will It Reinforce The Rally?<\/h2>\n\n\n\n
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