EURUSD rises back to old swing area
In the EURUSD, the price also had technical disappointment on the break of the 200 hour moving average at 1.21168. The prices now moved back above its 100 hour moving average as well at 1.21331.
NASDAQ index closes the gap from Friday's low
the NASDAQ index has closed the gap from Friday's low at 13530.96. The high price has just take to 13534.60.
The Next major target comes at the 50% retracement of the range since January 29. That comes in at 13580.08. The 200 hour moving averages at 13602.89. Getting back above those levels
Chairman Powell: One time price rises don't necessarily spur inflation
- one-time price rises don't necessarily spur inflation
- number of commercial real estate sectors under pressure
- best for commercial real estate is to curb virus
European indices close the session higher, erasing earlier declines
in other markets as London/European traders look to exit:
In the forex market, a snapshot shows that the New Zealand dollar is the strongest while the Japanese yen is the weakest. The US dollar is back toward being mixed with the biggest gain vs. the JPY at +0.69%
US yields come off there high levels
The 10 year yield is trading at 1.382%, up 4.0 basis points. That is a down from the high yield of 1.4337%.
The 30 year yield is trading at 2.237%, up 5.7 basis points but down from the high of 2.291%.
USDCHF trades to new session highs
The next target on the daily chart is the 200 day moving average at 0.91475. The price has not close above its 200 day moving average since March 2020.
More from Fed's Powell: Some asset prices are elevated by some measures
- picture mixed in answer to asset bubble question
- leverage in financial system is moderate
- some asset prices are elevated by some measures
Dow trades to a new all time high price
the Dow industrial average has traded to a new all time high price of 31717.13. The index is currently up 179 points or 0.57% on the day.
BOEs Broadbent: Our debate is about whether negative bank rates would be effective
- other countries experience of negative rates shows that rates on retail deposits and loans have not gone negative
- there is no particular reason why the appropriate nominal neutral interest rate might not fall below 0%
Where is the US dollar heading?
The made a good start in 2021 after a sharp fall in 2020, but January's
bounce, driven by profit-taking and optimism of faster economic recovery, was