The US$ is a bit weaker ahead of today’s FOMC. This has helped to weaken the USD/JPY and support the EUR/USD. Traders should watch to see how these pairs react to FOMC news and assess chart patterns after the dust settles.
There has been little change across most instruments as market participants wait for clues with this week’s big batch off tech earnings. Keep watch for any new momentum-based trend line breakouts.
The US$ index closed a bit lower and this has helped to keep Gold and commodity currencies supported. The ECB decision triggered some spike movement on the EUR/USD but there has not been any wedge breakout as yet. US stocks are drifting higher ahead of next week’s earning release for some of the big tech […]
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 […]
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 […]