The JPY is the strongest. The NZD is the weakest. The end of the week is nigh, and there are of course the strongest and weakest from the major currencies.
German Dax and Italy’s FTSE MIB the big losers for the week The European major stock indices are closing lower on the day: The tumble today, wiped out any gains for the week The UK FTSE is the only index that closed higher and it was by the most narrow of margins (+0.1%). The German…
US July budget deficit The trend is certainly not ideal but people have been fretting about developed market deficits and debt for a long time. ForexLive
There is a belief that an autos deal will get done soon It looks like a deal on autos is close. Then it will come down to the sunset clause, dispute panels and a few other sticking points.
Euro technical analysis The euro is at a fresh low of the day, down 135 pips to 1.1391. The charts this week — across the board really — have been a technicians dream.
100 hour MA and trend line the topside extreme. The USDJPY has continued the ping-ponging with the high extreme at the 100 hour MA and trend line stalling the rallies, and a lower trend line stalling the falls (see earlier post )
Baker Hughes weekly oil rig count ForexLive
Broadly unchanged JOLTS, CPI and PPI were the only new inputs this week and they didn’t have much effect. ForexLive
Tests July 2017 lows and near the low for the year today and bounces. But rise is limited. Those topics can be thought as risky events and in the old days, might have led to flights into the safety of the gold.
First test stalled the fall The EURGBP is moving toward support defined by its 50% of the recent move higher and the 200 hour MA at 0.8936 -0.89417 area. The low just reached 0.8943.