US stocks set to open lower
The financial futures for the equities are implying a lower opening. The indices have been moving lower since peaking earlier in the New York session
USDJPY races higher today after cluster of moving averages were broken
The USDJPY has raced higher today. The pair close yesterday at 105.20. The early Asian session saw the price move up to test and then break a cluster of 3 moving averages including the 200 hour moving average, the 200 day MA and the 100
As yields run, stocks in premarket give up gains
With the US yields running to the upside (the 30 year was up over 10 basis points and the 10 year was up over 7 bps), the US stocks started to give up their gains. The major indices are now trading negative on the day with the Dow down 37 points, and the NASDAQ down 60
GBPUSD gets close to completing the up and down lap today
The GBPUSD raced higher in early Asian trading in what it is being attributed to stop buying. The pair has been trending to the upside. The the pair had been up for 4 consecutive days and extended above the 1.4000 level in the
EURUSD falls and tests the 100 hour moving average
The range for the EURUSD is now up to 44 pips. That is still shy of the 64 pip average seen over the last 22 days of trading (about a month). So there is room to roam. The sellers are making the play for more control, but they still need to get back below the 100 hour
US bond yields continue to stretch the range
The US 30-year bond yield is up 7.8 bps to 2.26% today as the break higher continues. At the start of February it was at 1.80%.
The NZD is the strongest and the JPY is the weakest as NA traders enter for the day
As North American traders enter for the day, the NZD is the strongest and the JPY is the weakest of the major currencies. The USD is trading mixed with a downward tilt. The greenback is lower most vs the NZD (-0.68%) and CAD (-0.26%), and down more modestly verse the
Why the currency market could get more interesting
We think the currency market is going to get more interesting in the days and weeks ahead. Why? Well, we're seeing a whole lot of US dollar weakness on the back of more dovish communications from the Fed Chair that suggest that forward guidance goal post could keep getting pushed down the
ForexLive European FX news wrap: Risk rebounds after early stutter
Headlines:
Markets:
- NZD leads, JPY lags on the day
- European equities higher; E-minis up 0.4%
Risk ramps higher ahead of North American trading
After a bit of a hiccup earlier in the day, owing in some part to the selloff in Hong Kong stocks, the market is running with the reassurance from Fed chair Powell yesterday.