...and they're off.
The week is underway and the USD is the strongest while the JPY is the weakest. The higher rates in the US are boosting the greenback with the 10 year pushing the 3% level today (got up to 2.9957%). The higher greenback is pushing Gold lower. Crude oil is also down.
The EURUSD and the GBPUSD are trading near session highs with decent ranges relative to their 22 day averages. The ranges have been trending lower with the non-trending market. However the EURUSD is looking to test the April low at 1.22139 (the low today reached 1.22224 so far). The high for the month in the EURUSD reached 1.24134. The GBPUSD moved to new month lows today (taking out the old low at 1.39548). The low today reached 1.3941. The GBPUSD reached 1.4376 last week - which was the highest level since Brexit day 2016. The push higher failed and weaker inflation data started the bigger tumble lower.
IN other markets:
- Spot gold is down -$8.60 or -0.65% at $1327.00
- WTI crude oil is down -$1.07 or -1.61% at $67.29
- Bitcoin is up $47 at $8937. The high today reached $8950 on Coinbase. The 100 day MA is at $9216.84. It is getting closer to that key technical level.
IN the US pre-market stock market:
- Dow is implied to up up 26 points
- S&P is implied to open up 5 points
- Nasdaq is implied to open up 22 points
The US rates are now near unchanged levels:
- 2 year 2.453%, down -0.4 bps
- 5 year 2.803%, up 0.3 bps
- 10 year 2.964%, up 0.4 bp
- 30 year 3.148%, up 0.3 bp
