The DXY is a bit lower to start the week and this has enabled some mean-reversion type movement across currencies, as can be seen on my Currency Strength Indicator chart. The RBA meet today so watch to see how this impacts the XJO and AUD pairs.
September sure lived up to its reputation for being problematic for stocks and we still have October to come! The monthly charts for many instruments are rather ugly and will be included in my weekend update. There is a fair bit of data still to come for the last day of the week but I […]
Rising yields have kept pressure on the NASDAQ but the S&P500 and DJIA held steady last session. The EUR/USD and commodity currencies are markedly lower though but Gold is holding steady for the time being. It does feel like there is a shift underway and remember that distribution phases are generally marked by volatility.
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.