Bitcoin breaks support
Bitcoin fell as low as $9486 in a quick rout in the past hour.
It's taken out the July low in the fall, ending the minor bull flag that was forming. $9088 is the late-May high and that and the $9000 figure will now act as support.
Can EUR/GBP firmly hold a break above 0.9000 today?
The pair has been knocking on the door of the 0.9000 handle over the past two weeks and is now hitting a fresh six-month high as the pound slips on the day. If buyers can manage a daily break above the 0.9000 handle, I reckon it could keep the rally going for a while more towards the highs seen in December and January.
Cable inches a little lower, falling below the 1.2500 handle now
Price falls to a near one-week low of 1.2493 as the pound loses some ground to start the European morning. There aren't any fresh headlines driving the bit-part decline but the overall sentiment for the quid remains murky with Brexit uncertainty still prevailing.
NZD/USD is lurking around the highs posted yesterday
The more earlier today is one of the reasons giving buyers some added confidence to start the session but ultimately, the daily close today will once again be key to gauge any further momentum to the upside in NZD/USD.
Gold "has room for at least one more rally"
Goldman Sachs technical analysts suggest adding topside exposure to gold if prices fall into the $1402-$1407 range (spot $1412) for a minimum target of $1465 with the scope for a rise to $1513 and risking no lower than $1386.
USD/CHF touches its lowest level since 1 July
For USD/CHF, sellers are back in near-term control and are poised to search for a further extension lower if they can navigate a firm break below the 0.9800 handle.
GBP/USD falls just under the 1.2550 level
The pound is a little softer in European morning trade as price just slips to under 1.2550 against the dollar. Trading has been light for the most part among major currencies with markets in a calmer mood to begin the new week.
Nomura recommends a short in EUR/GBP after the pound's recent losing streak against the single currency
The pound has struggled against the euro since the middle of May as EUR/GBP bounced from around 0.8500 to test the 0.9000 handle over the past few sessions. The latter is proving to be a bit of a tough spot for buyers to break above and Nomura is saying that this may be as good as it gets for the pair for the time being.
NZD/USD is hovering just above its 200-day moving average
The pair is trading up to a session high of 0.6723 now and is holding just above the 200-day MA (blue line) @ 0.6716. If buyers successfully manage a break above that, it will shift the bias in the pair to be more bullish again.
The pair is trading near session highs close to 0.7035
And the pair is testing the 100-day MA (red line) @ 0.7022 in trading again to start the new week. The move higher in the aussie comes after some , despite Q2 GDP slowing to its weakest annual pace in 27 years.
S&P index closes above the 3000 level for the 1st time ever
Its the Triple Crown. All three of the major US stock indices closed at session highs. For the S&P index, it is closing above the 3K level for the very first time after toying with moves above on Wednesday and Thursday only to fail.
100 hour MA stall point at lows. Gives buyers a reason to buy
The price of gold started the day testing its 100 hour MA (blue line). After a modest bounce, there was another look at the MA level where buyers showed up again. Holding - and the lower dollar - has been the catalysts for the move back higher.
Dollar falling into the weekend
The AUDUSD is stretching to a new session high and in the process is looking to test the 100 day MA at 0.70208. The pair today bottomed at the start of the session against the 100 bar MA on the 4-hour chart, MOved above the 200 hour MA and retested that MA in the NY session. That holding - and dollar selling - has now sent the price toward that key 100 day MA. THe price moved above that 100 day MA back on July3 and 4th, but failed, retesting on the 5th before moving lower. There should be sellers on the test of the MA with stops on a break above.
The earnings calendar for the next two weeks
The major stock indices are trading near the highs for the day, and baring an afternoon's swoon, the major indices are also on pace for all-time record high closes today.