The JPY is the strongest and the GBP is the weakest as risk off flows back in play

Technical Analysis

Author: Greg Michalowski | forex

USD mostly higher.

With stocks down on the back of some fight back from China the JPY is back at the top of the table as the strongest currency of the majors today.  The GBP is the weakest as the Brexit talks with Labour collapse. THe CAD and AUD are lower as well on "risk off" flows.   The USD is mostly higher with declines only against the JPY.

USD mostly higher.
The USD is trading near extremes vs the EURUSD and GBPUSD (dollar near day's highs).  The greenback is also near the highs vs the CAD, AUD and NZD too.  Versus the USDJPY, the dollar is at its low vs the USDJPY. That also has the JPY crosses neare session lows at the start of the session (risk off flows)  The GBPJPY is trading down -83 pips on the day. The EURJPY is down -43 pips.  

The USD is trading mostly at extremes
In other markets:
  • Spot gold is unchanged at $1286.74. The precious metal flirted with moving above the $1300 level this week, but backed off with a firmer USD
  • WTI crude oil is up $0.46 or 0.75% at $63.34.  This week it continued to flirt with going below its 200 day MA at $60.62 but tensions in the middle east gave the precious metal a boost
IN the pre-market for US stocks, future are implying a lower opening and giving back some/most of the gains:
  • Dow,, -169 points. IT was up 214 points yesterday
  • Nasdaq -56 points. It was up 75 points yesterday
  • S&P, -19 points. It was up 25 points yesterday
In Europe indices are lower:

  • German Dax, -1.14%
  • France's CAC. -0.72%
  • Britains FTSE -0.5%
  • Spain's Ibex, -0.73%
  • Italy's FTSE MIB, -0.65%
In the US debt market, yields are back down on flight to safety flows:

The US yields are moving back lower on risk off flows

The European 10 year yields are all also moving lower with the German 10 year now trading at -0.124%.  

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose