Pairs break to the upside failed Coming into the day, the GBPUSD had a range of less than 100 pips. That would have put a weeks trading range at the lowest since 2014. That is a long time ago.
Crude drops The market has been turned on its head in the past hour as the US dollar jumps and everything else slumps. Oil was at the leading edge of the reversal after topping out at $53.31.
Major indices down about -0.5% The major US indices are opening in the red. That jeopardizes the 5 day higher close for each of those indices. The snapshot of the market shows:
Trades at the highest level since November 26 The GBPUSD just traded to a new session/week/month high. The price reached 1.2855. That is the highest level since November 26th.
Sends the bill to the Senate The US House has passed a bill to fund and reopen the Interior Department and the Environmental Protection Agency (EPA).
Dovish comments from Nowotny with Austria’s Der Standard Why’d he have to bring up 2008? ForexLive
Closing changes for the main European bourses: On the week: Italian stock markets had a nice week but the index is closing in on the Nov/Dec highs.
Trump wants a stronger yuan This is possibly the most-important chart for the global economy. It’s the exchange rate between the world’s two biggest economies; the US dollar against the Chinese yuan.
New York Fed tracking estimate The lack of economic data because of the government shutdown is hindering these estimates. ForexLive
New York Times report The ultimate treason would be if Donald Trump was actually a Russian agent or was so compromised that he was effectively working for Russia to undermine America’s interest.