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EURUSD rises back to old swing area

24 Feb 2021

Swing area between 1.21435 and 1.21496
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

24 Feb 2021

Friday's low was at 13530.96
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

24 Feb 2021

More from Chairman Powell
- 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

24 Feb 2021

German DAX, +0.8%. France's CAC, +0.3%. UK's FTSE 100, +0.6%.
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

24 Feb 2021

Helps to spur US stock indices higher
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

24 Feb 2021

Price at highest level in 3 months. Breaks above a topside trend line
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

24 Feb 2021

Fed's Powell
- 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

24 Feb 2021

Trades the highest level since November 25, 2020
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

24 Feb 2021

More from Bank of England's Broadbent
- 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?

23 Feb 2021

What is the dollar outlook at the moment?
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
short-lived.