The US$ remains weaker despite higher yields, strong economic data and upbeat earnings and I am not the only one noticing this phenomenon. Kathy Lien made comments today along the same wavelength. The S&P500 has made its first daily close above 4,700 and Gold looks ready to take on a multi-month bear trend line.
The S&P500 closed at another new high and the US$ is a bit higher as well ahead of today’s US jobs report. Momentum is low on the daily DXY chart so watch that for clues about the next directional move following the NFP update. The GBP pairs were sharply lower after the BoE update.
US stock markets are yet to close but, thus far, have responded favourably to the FOMC statement with the S&P500 currently carving out new highs. The US$ has dipped but watch to see how sentiment here evolves over the next day especially as there are some big names reporting earnings. The BoE rate update is […]
Tonight brings FOMC as well as the private US jobs report, ADP NFP, so watch to see how the US$ reacts to these two sets of data.
The US$ is a bit lower to start the week and the EUR/USD is back at 1.16 making we wonder if it might park there until Wednesday’s FOMC. The AUD pairs are little changed but watch to see how today’s RBA update might impact them.