- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices Trading
- Share CFDs Trading
- Cryptocurrency CFDs
- Treasury CFDs
- ETF CFDs Trading
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile Trading Platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & Analysis
- Education Hub
- Economic Calendar
- Earnings announcements
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets.
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Fraud and scam awareness
- Legal documents
- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices Trading
- Share CFDs Trading
- Cryptocurrency CFDs
- Treasury CFDs
- ETF CFDs Trading
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile Trading Platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & Analysis
- Education Hub
- Economic Calendar
- Earnings announcements
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets.
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Fraud and scam awareness
- Legal documents
- Home
- News & Analysis
- Forex
- Market Analysis – Dollar rips, AAPL dips, Oil take a wild ride
- Home
- News & Analysis
- Forex
- Market Analysis – Dollar rips, AAPL dips, Oil take a wild ride
News & AnalysisNews & AnalysisMarket Analysis – Dollar rips, AAPL dips, Oil take a wild ride
3 January 2024 By Lachlan MeakinThe new trading year kicked off with a dip in equities with Big Tech leading losses in Tuesday’s session, AAPL being the big loser after a downgrade from Barclays citing concern in iPhone demand. Yields and the USD ripped higher, the US Dollar Index having its biggest daily gain since March 2023. Crude oil capped off an interesting session with a pump and dump rollercoaster ride.
Charts To Watch:
Apple – AAPL
Apple stock fell 3.6% during Tuesdays New York session, it’s worst day since August. The dump came after Barclays downgraded the iPhone maker and lowered its price target on concerns of slowing iPhone sales, particularly in China. This saw the stock price gap down, erasing all of December’s gains and hitting a low of 183.89 before finding some bids and rebounding modestly.
US Dollar Index – DXY
DXY surged on the first trading day of 2024, having its biggest up day since March 2023, there was little in the way of newsflow behind the move but more a result of a jump in yields and some oversold technicals that were amplified by a low volume session. DXY retaking the 200-day SMA and 102 handle, hitting a high of 102.22, the next test to the upside being the resistance around 102.57.
Crude Oil – USOUSD
The most interesting move today was in Crude Oil, initially surging in the APAC session amid growing Middle East tensions, only to dump at the start of the US session with no obvious catalyst. Some souring of risk sentiment and a stronger USD seemingly the only drivers. USOUSD finishing the session just above 70 USD a barrel, with the major support at 67 the next level to watch to the downside.
Ready to start trading?
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
Walgreens Boots Alliance tops estimates but the stock is falling
Walgreens Boots Alliance Inc. (NASDAQ: WBA) released first quarter of fiscal 2024 financial results before the opening bell in Wall Street on Thursday. The American healthcare, pharmacy, and retail company reported revenue of $36.707 billion for the quarter, which topped analyst estimate of $34.949 billion. Revenue was up by 10% from the same pe...
January 5, 2024Read More >Previous Article
Tesla announces Q4 2023 deliveries and confirms the date for earnings
Tesla Inc. (NASDAQ: TSLA) reported the latest delivery numbers for Q4 2023 on Tuesday. World’s largest electric vehicle company produced around 4...
January 3, 2024Read More >