Converged 100 and 200 hour MA give a level to lean against by sellers The USDJPY fell toward the 50% retracement earlier in the day and found early buyers against the level at 107.03. The buying was able to extend above a swing area at 107.317-36. Sellers turned to buyers. The price has run higher.
Blogs
USDCAD bounces off the 100 day MA as dip buyers enter, but buyers have work to do
Tests a swing area above The USDCAD took out the low for the week at 1.3727 at the session lows today, BUT (and it is a big BUT), the price held near support at the 100 day MA at 1.3716. The price bounced.
Major indices open with mixed results
NASDAQ higher. S&P and Dow lower A few minutes into the US opening for the day and month end, the major indices are showing mixed results in up and down trading.
The USDJPY is back up retesting the floor area on the hourly chart
Stocks set to open As stocks get ready to open, the USDJPY has moved back higher and retests a floor area in the 107.317-36 area. The price has been above that area since May 19. Earlier today, momentum took the price below that area on its way toward the 50% retracement of the move up from the may […]
The EURUSD tests the end of March high and backs off
The March 27 high reached 1.1146. The high today reached 1.11447 The EURUSD has successfully tested the end of March high at 1.11465. The high price so far as reach 1.11447 and backed off (just a pip or two from matching the high). The current price trades around 1.1116.
The EUR is the strongest and the USD is the weakest as NA traders enter for the day
The US stocks near unchanged in early trading. The EUR is the strongest and the USD is the weakest as the NA session begins. Hong Kong remains a hotspot/hot topic with President Trump expected Friday to announce countermeasures in response to the security legislation. In the US, Pres. Trump is on the warpath vs social
Watch live: Fed's Powell speaks to Princeton's Alan Blinder
Powell speaks at live event sponsored by Princeton: See here for global coronavirus case data
SNB's Zurbruegg: We still have room to manoeuver on rates and FX intervention
Zurbruegg comments in local newspaper The crux of the problem for the SNB is that rate differentials are what matters. If you're getting negative rates everywhere then the franc suddenly becomes relatively attractive again, especially in a poor economy.
Fed's Mester: Yield curve control is a discussion for a future phase
Cleveland Fed President Lorena Mester on Bloomberg TV: Mester is certainly hinting at more action but a move in June is unlikely. Today is the final day before the blackout period but we will hear from Powell at 11 am ET (1500 GMT).
Canada GDP contracted -7.2% in Mar, prelim data points to -11% decline in Apr
<p>Canada GDP tumbled a massive -7.2% mom in March, but was better than expectation of -9.0% mom. Overall, 19 of the 20 industrial sectors were down, contributing the monthly decline. StatCan also said that preliminary information indicates a further slump of -11% decline in real GDP in April. IPPI dropped -2.3% mom in April versus […]