The USDJPY has two key level in play. ON the topside the 155.00 level is being touted at a level that the BOJ does not want to see the USDJPY move above. It may just be the "market" speaking, but there is chatter that the central bank also does not want the pair...
S&P 500 stretches to a fresh session high, up 1.25%
Imagine what will happen if/when we get a weak non-farm payrolls or CPI report?Today's weaker US PMI from S&P Global was a taste of what's to come when the data eventually softens, whenever that might be. The 50.9 reading in the services PMI compared to 52.0...
The three major pillars keeping the dollar strong unlikely to change – Deutsche Bank
Deutsche Bank has been bullish on the US dollar since the start of the year and sees no reason to pivot in light of three driving factors of US outperformance.1) US fiscal deficitsThe US passed a budget deficit of 5-6% of GDP for the fifth year in a row and DB now...
US sells 2-year notes at 4.898% vs 4.904% WI
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US treasury to auction $69 billion of two-year notes at the top of the hour
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
EURUSD has a cap near the 38.2% retracement, but buyers are pushing.
The EURUSD of higher after the weaker US data today and in the process tested the 30.2% retracement of the April trading range. That level comes in at 1.0709. The high price reached 1.07107 just above the retracement level before rotating modestly to the downside.What...
JPMorgan CEO Dimon: There is a chance stagflation could happen again
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US broader indices up over 1%. S&P up 1.01%. NASDAQ index up 1.43%
There are a slew of earnings scheduled to be released this week, including Alphabet, Meta Platforms, Tesla, Intel. Below is a list of the major earnings on the schedule:Key earnings this week:Tuesday: After the close :Tesla, Visa, Texas InstrumentsWednesday: Boeing,...
European stocks end the day on the highs
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
NZDUSD extends to the upside on the back of a lower dollar today
The NZDUSD has moved higher today on the back of weaker US data (lower USD), low yields, and risk-on sentiment from rising stocks. Technically, the price has been able to move above a swing area between 0.5933 and 0.59415 and the 38.2% retracement of the April 2024...
USD/JPY dip buyers don’t hesitate
Today's price action highlights how big of a problem that Japanese authorities have on their hand. Even with a broader US dollar selloff on weaker economic data and dipping Treasury yields, USD/JPY barely blinked.USDJPY 10 minsThe pair fell to 154.58 and that 20-pip...
AUDUSD reacts to the weaker US data. Pair moves higher as yields move lower/stocks higher.
The AUDUSD buyer took the price higher after the weaker ISM flash data and Richmond Fed manufacturing data. The prehire has now taken the price above the 38.2% retracement of the move down from the April high to the April low. The level comes in at 0.6469 and is now...
MUFG: Increased risk of imminent yen intervention as USD/JPY nears 155
USDJPY dailyMitsubishi UFJ Financial Group highlights the rising likelihood of intervention by Japanese authorities to support the yen, following strong signals from Japan’s Finance Minister and recent currency trends. The USD/JPY has been hovering just below the...
The intensity of the US dollar reaction to the PMI is instructive
This is a market that's been desperately searching for signs of a cooling economy and it's treating today's S&P Global US PMI like an oasis in the desert.It's similar in FX, where we are getting a round of US dollar selling that's lifted the euro by 40 pips and...
Yields moving lower. Dollar lower. Stocks higher after some sluggish data.
The sluggish flash PMI data and Richmond Fed data, has yields moving lower, the dollar lower and stocks higher. Looking at the yield curve, the shorter end is lower as traders adjust to the surprise weakness and ponder does this ease the Feds (and the markets) anxiety...
US March new home sales 0.693m vs 0.670m expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Richmond Fed Manufacturing index -7 versus -7 estimate
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
S&P Global services PMI 50.9 vs 52.0 expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
US major indices are higher in early US trading
The major US indices are higher in early trading. The NASDAQ index is leading the way followed closely by the S&P index. A snapshot of the market 11 minutes into the open is showing:Dow industrial average up 78.15 points or 0.20% at 38318.14S&P index up 22.78...
The USDCHF is not doing much in trading today, but the buyers are trying to take control.
The USDCHF price action is not doing much today. The price has been moving up and down and in the process, the price has been trading above and below the 100 and 200 hour MAs . However, in more recent trading in the US session, the 100-hour MA at 0.9112 has held...