Risk trade improve USD/JPY is back to unchanged on the day at 108.17 after falling as low as 107.77. The rebound coincides with a bounce in stock markets. The S&P 500 is down just 5 points to 2580 after falling as low as 2562.
Reverses the gains from Sunday’s trading. Back below 100 and 200 hour MAs On Sunday, the price of bitcoin based at the 100 and 200 hour MA and ran higher. That move took the price from $3833 to $4088. The digital currency on Coinbase, did make it to a higher high on Tuesday – reaching…
What’s happening in the market on Thursday On Thursday, the market opted to take a breather, though we’d say it was more a case of currencies relenting than the dollar rallying. Wednesday’s breakout in the Euro above 1.1500 has the ability to change the picture now, and is backing up fundamentals warning of a downturn…
What’s behind the bid? Today’s rally in EUR/CHF has raised some chatter about SNB intervention. Certainly the pair has held a rock solid bid as it creeps up to 1.1300 from 1.1238 at the lows of the day. It’s also coming on a day when risk aversion should be pushing it in the other direction.
Oil rebounds from losses Oil is on a fine winning streak. It has now gained in seven straight trading days to start the year and has jumped 24.5% since the December 24 low.
Closing changes for the main European bourses: Italian stocks had a strong finish. ForexLive
Back and forth during and after Powell The Nasdaq index is back higher after up and down activity during and after the Powell interview. The index did open lower today moved positive on familiar comments from Powell on rate projections, but got a little anxious (moved lower) when he talked about significantly lowering the Fed’s…
Tests lower extreme target that I wrote about the bearish move in Bitcoin and the targets at the 50% and the 61.8%. The 61.8% was also near the low of the range since December 18th.
CBS report It should be no surprise that Kamala Harris is seeking the Presidential nomination. She’s been long rumored and is one of the betting favorites. CBS cites ‘a source close to her’ who says she will make the announcement around January 21, likely in Oakland, CA.
Quick pop in GBP Cable rose to the highs of the European session in a quick move on fixing demand. It hit 1.2780 at the London fix before giving back 10 pips in the minutes afterwards.