US stocks traded at new highs last session but pulled back following the release of US CPI data. The higher than expected CPI result dampened the mood set by the positive start to the US Earnings season. Today brings the RBNZ and BoC rate update, as well as US PPI data, so watch these for […]
Last week: There were new all-time closing highs again for the S&P500, DJIA and NASDAQ despite some mid-week jitters. The DXY faded towards the end of the week to close lower which helped to support commodities and commodity currencies. It is worth noting the emerging divergence with the risk-sensitive Russell-2000 index and the Emerging Markets […]
It was a bit of a mixed bag last session. Risk aversion was back with growing concern about a post pandemic recovery as US weekly unemployment claims rose unexpectedly. US Bonds were higher and yields lower, as was the US$. I suspect the announcement about the Tokyo lock down might have been at least partly […]
The US$ has edged higher and the stock melt up continues but there isn’t much momentum across on Forex markets. Some of the chart patterns have been revised but they still reflect potential for some broad-based consolidation.
The US$ is higher ahead of today’s Fed Meeting Minutes and this has triggered some sharp reversal moves across Forex pairs. Key horizontal levels are back in focus for some pairs and I will be revising chart patterns, if necessary, after the Fed Meeting Minutes are digested.