GBP leads the way after inflation data. JPY weakness continues.

Technical Analysis

Author: Greg Michalowski | forex

The USD is higher.  September 12, 2017

The GBP rushed higher after the better than expected inflation data this morning.  The JPY has continued it's fall for the second straight day (yesterday it was the weakest currency as well).  Stocks are higher. Interest rates are higher as well. That is helping to boost the USDJPY and the JPY crosses as well.  In the US stock market today, the traders will be focused on the Apple new iPhone announcement (1 PM ET/1700 GMT). Apple shares are trading up $1.50 at $163.00 in pre-market trading. The all time high close is $164.94.  


The US dollar is up vs the EUR, JPY, CHF, CAD, AUD by lower vs the NZD and of course the GBP.

The GBP pairs are where the most action is today. The ranges and changes are the largest for those pairs at the morning snapshot. They are also trading near extreme levels. They are trending.  

 In other markets today:
  • Spot gold is down -$0.70 to $1326.70
  • WTI crude is up $0.32 to $48.39
  • US yields are higher. 2 year 1.3267%, up 0.8 bp. 5 year 1.7172, up 1.8 bp.  10 year 2.1497%, up 1.9 bp.  30 year 2.756%, up 1.3 bp
  • US pre-opening stock indices are higher. S&P futurs up 4.5 points.  Nasdaq futures are up 16.25 points. Dow futures are up 58.0 points
  • European 10 year rate are up a bit. Germany up 3.3 bp. France up 3 bp. UK up 4.1 bp. Spain up 1.2 bp
  • European stocks are mostly higher (sans UK): Germany up 0.6%. France up 0.7%.  UK down -0.2%. Spain +0.25%. Italy +0.5%
Events today:
  • Mnuchin speaks at CNBCs Delivering Alpha (momentarily). The full schedule of events from the conference can be found HERE
  • ECB Constancio speaks at 09:45 AM ET.  
  • JOLT job openings for July at 10 AM ET/1400 GMT
  • US 10 year bond auction at 1 PM/1700 GMT
  • Apple iPhone announcement at 1 PM ET/1700 GMT

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