Risk sentiment is still on the optimistic side For bank trade ideas, check out eFX Plus The DAX is holding gains close to 3% with European indices posting gains of over 2% in general currently, and S&P 500 futures are also up by 1.1% with Dow futures up 1.6%.
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South Korea says North Korea's actions are regrettable, warns of strong response in case of more action
South Korea officially responds to the destruction of the inter-Korean liaison office in Kaesong earlier in the day – North Korea should take all responsibility from here onwards It could just be a symbolic move by North Korea earlier, in saying that tensions between the two have soured quite substantially. But if this develops into […
Major European shares close with solid gains
Gains of 3% for most of the major indices The European stock market is closed and the major indices that maintain solid gains on the day. The provisional closes are showing:
US dollar rises as flows head out of currencies
Flows into the safety of the US dollar EURUSD: The EURUSD it is looking to test the lows from yesterday at the 1.12256 level. Below that the Friday low at 1.12119 would be eyed. The price fell below a trendline at 1.1260 level.
EURUSD continues its fall. Looks toward recent lows
Breaks below swing area and trend line The EURUSD has continued its fall to new session lows. In the process, the pair has dipped below the a swing area at 1.12676 to 1.12753 and a trend line on the hourly at 1.1261. Those levels are now intraday risk levels. Stay below, keeps the sellers in […]
The major indices open with strong gains
Dow stocks leading the way. The snapshot of the market currently shows: Although higher, the major indices have come off from premarket high levels. The retail sales data sent the price to new premarket high levels but industrial production was a bit weaker than expectations and that tempered the gains.
EURUSD trades to new session lows and bounces off a swing level
Tests a swing area The EURUSD bottomed on Friday, moved up yesterday and into today's session, but has rotated lower over the last 6-7 hours of trading. The price action over that time period took the price above and below the 100 and 200 hour MAs which are converging.
USDCHF bounces off 100 hour MA/50% retracement
If flight out of safety of CHF, the 100 hour MA is a lean area The USDCHF has moved lower in trading today despite the rise in stocks. Higher stocks in the US have also more lately led to a lower dollar overall.
GBPUSD rotate back to the upside as traders increase of buying momentum
EURGBP moves to new session lows and is being an influence in the GBPUSD The GBPUSD is rotating back to the upside and looks to retest its 200 day moving average at 1.26805. Earlier in the Asian session, the price did extend briefly above that moving average level only to back off and move lower.
The GBP is the strongest and the NZD is the weakest as NA traders enter for the day
The USD is mixed As the North American traders enter for the day the GBP is the strongest while the NZD is the weakest. The USD is mixed. The mix is not really reacting to the surge in stocks as the "riskier currencies" like NZD and AUD that tend to rise in surging stocks are […]