Analisis Forex & Kajian: 05.09.2023 - US premarket on September 5:...

05.09.2023 01:02 PM

US premarket on September 5: US stock market approaches peak

Futures on US stock indexes opened in the red but quickly rebounded from all the losses compared to Friday's closing levels. S&P 500 futures gained 0.1%, while the high-tech NASDAQ added 0.2%. Meanwhile, European stock indices dropped after the release of weak economic data from the Eurozone and China, and the single currency plunged to nearly a three-month low against the US dollar. The Stoxx 600 index lost 0.8%, declining for the fifth consecutive day. US Treasury bond yields increased after the US holiday.

In China's services sector, August saw the slowest growth this year, confirming that the economic recovery is losing momentum, dampening previous optimism about government stimuli. In Europe, the composite Purchasing Managers' Index (PMI) turned out worse than the preliminary estimate, remaining below 50 points for the third consecutive month, indicating a contraction in activity.

These trends reveal concerns among risk-averse investors regarding the Eurozone situation. Survey data indicates that the economy is heading toward a recession, and no one seems willing to address it for now. This also raises questions about how aggressively the ECB will act in the future. During Christine Lagarde's recent speech, she evaded answering whether the European Central Bank would raise or maintain interest rates next week.

As previously noted, disappointing PMI figures from China exerted significant pressure on European stock sectors influenced by the world's second-largest economy. Companies involved in luxury goods and consumer products, such as LVMH, Kering, and Adidas (sportswear manufacturer), lost over 2%. In a rare piece of good news, Country Garden Holdings Co. stated that it had made coupon payments on its two-dollar bonds during the grace period. The real estate developer, once a symbol of China's property woes, now suggests increasing principal debt repayments by eight yuan and extending the payment term. Additional measures from Beijing to stimulate credit growth are also anticipated soon.

All these discouraging data points prompt the market to support the US dollar. Higher US Treasury bond yields also sustain demand for USD after yesterday's holidays.

Regarding other countries, Brent crude fell for the first time in six days, losing 0.9% and now trading around $88.22 per barrel.

As for the S&P 500, demand for the index remains, but upward potential is limited. Bulls need to take control above $4,515. Only from this level, the index may surge to $4,539. Bulls also should maintain control over $4,557, which would bolster the bullish market. If downward movement occurs due to declining risk appetite, bulls will have to protect $4,488. A breakthrough would quickly push the trading instrument back to $4,469 and open the path to $4,447.

Anda telah pun menyukai siaran hari ini

* Analisis pasaran yang disiarkan di sini adalah bertujuan untuk meningkatkan kesedaran anda, tetapi tidak untuk memberi arahan untuk membuat perdagangan.

Jika anda mempunyai sebarang soalan berkaitan kandungan, sila hubungi editorial-board@instaforex.com

Stock Markets

Jakub Novak,
Pakar analisis InstaForex
© 2007-2025

Lebih banyak artikel daripada pengarang ini

Langganan E-mel

EURUSD

Euro vs US Dollar

Pilih carta masa

min

jam

hari

minggu

Mulakan dagangan

Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.

Muat turun MetaTrader 4 dan buka dagangan pertama anda.

Artikel yang dicadangkan

Pasaran Saham pada 30 Mei: S&P 500 dan NASDAQ Sambung Penurunan

Pasaran AS: Mahkamah Membatalkan Tarif Trump

Pasaran Saham pada 29 Mei: S&P 500 dan Nasdaq Henti Sementara Kenaikan

Menangani Lonjakan Dolar dan Kekacauan Teknologi: Titik Kemasukan Utama untuk Pedagang

Kemas Kini Mengenai Pasaran Saham AS pada 28 Mei

Pasaran Saham pada 28 Mei: S&P 500 dan NASDAQ Terus Meningkat dengan Pesat

Ramalan S&P 500 untuk 28 Mei 2025

Permintaan Domestik dan Harga yang Menarik

Kemas Kini Pasaran Saham untuk 27 Mei: S&P 500 dan NASDAQ Masih Mempunyai Potensi Pertumbuhan

Kemas Kini Pasaran Saham AS pada 27 Mei: Pasaran Mula Mengumpul Momentum

Analisis terbaik