Rising yields continue to rattle stock market investors and the NASDAQ led the sell-off last session. The US$ is higher as a consequence but, rather surprisingly, the EUR/USD and AUD/USD are holding up rather well. There is a speech today from Fed Chair Powell so watch this for any new impact on market sentiment.
The US$ is a bit stronger to start the week and this strength, and that of US yields, is grabbing the headlines. The EUR/USD is now below the key 1.17 and there has been some Yen weakness but most other charts are little changed.
Introduction: This chart review of the Mexican Peso was prompted after my viewing of Blake Morrow’s weekend video analysis and details of this video can be found through the following link. The Mexican Peso generally trades inversely to that of the S&P500 and, with the US major stock index looking a bit toppy / extended, […]
Last week: It was a bit of a wild ride last week with sharp falls across stocks at the start of the week, triggered by the Evergrande situation, followed by some recovery on Wednesday and Thursday after FOMC and then rather flat activity on Friday. The four major US stock indices, the S&P500, DJIA, NASDAQ […]
Risk appetite rebounded last session and there have been some great trend line breakout trading opportunities. I hope you all caught some of them. The GBP/JPY descending wedge breakout was one of the better ones on the day!