- FX – USDIndex is within yesterday’s trading range, currently at 100.94, as data on productivity, labor costs, and claims suggested the Fed may not be done. Yen settled at 134.00. EURGBP dived this morning to 0.8740, while Cable broke its 1.2600 high.
- Stocks – The US500 was off -0.72%, the US30 was down by -0.86% and US100 slid –0.46%. Apple found strength in India as overall sales fell for a 2nd straight quarter. #APPLE +2.49%. #Western Alliance -38.45% & +9.62% after hours. #First Horizon -33.16% & +4.47% afterhours. First Horizon shares sank after its $13.4 billion merger with Toronto’s TD Bank was called off. Western Alliance finished the day down 38% after it denied a report that it was exploring strategic options, including a potential sale. ASX and Nikkei managed gains of 0.4% and 0.1% respectively. The Hang Seng is currently up 0.5%.
- Commodities – USOil rose to $69.37 as the week ends. It is 10% down for the week and UKOIL is 8.1% down.
- Gold – holds gains above $2040, as the latest news for PacWest and Western Alliance and lower Chinese and German Factory orders prompted investors to turn to the yellow metal.
Biggest FX Mover @ (06:30 GMT) GBPCHF (+0.55%) breaks 50-day SMA. MAs aligned higher. MACD histogram & signal line positively configured, Stochastics is rising & RSI is at 78. ATR(H1) at 0.00128, ATR(D) at 0.00702.
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Andria Pichidi
Market Analyst
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