Posted on

AUDUSD SELL

Open Price: 0.71673
Take Profit 1: 0.71484
Take Profit 2: 0.71278
Stop Loss: 0.72305

Trade Result: Stop Loss!

Status : Expired 
Published Time: 10.35 am (New York)

Posted on

Major currencies keep calmer, risk more tepid so far in European morning trade

Not a whole lot of action to kick start the day

European indices are easing a little after a steadier start to the session, down around 0.1% to 0.3% across the board. US futures have also given up slight gains, with S&P 500 futures marked lower now by 0.1% as the risk mood keeps more tepid.

10-year Treasury yields are a touch higher, up 1 bps to 1.268%, but when putting everything together, it isn’t giving major currencies and the dollar much to work with.EUR/USD is keeping afloat just above 1.1700 around 1.1720 with sellers still poised to try and test the figure level and daily support at 1.1704-11.

USD/JPY is sitting in a 18 pips range and little changed around 109.60 levels.Meanwhile, AUD/USD is holding steady at 0.7250-60 after falling to fresh lows for the year yesterday but remains in a vulnerable spot, all things considered.The kiwi is arguably the big mover on the day and while the currency is trading back lower now around 0.6910, it belies the wild moves ahead of and after the RBNZ policy decision earlier in the day. I shared some thoughts on that here.

Posted on

EURGBP SELL

Open Price: 0.85181
Take Profit 1: 0.85043
Take Profit 2: 0.84894
Stop Loss: 0.85690

Trade Result: Stop Loss!

Status : Expired 
Published Time: 06.15 am (New York)

Posted on

US dollar stays under pressure as the euro touches 1.18

Dollar on the back foot

The market is rethinking the risk Powell cues up a taper at Jackson Hole and announces on in September. The delta variant, schools reopening and unemployment benefits running out are likely to outweigh inflationary concerns, at least in the latest rethink.

That’s put pressure on the US dollar right across the board today. The catalyst was an extremely soft US consumer sentiment survey from the University of Michigan. It crashed through the pandemic lows to the worst levels since 2011 in a move that nearly no one saw coming.

US 10-year yields are now down 5.8 bps on the day to 1.3085%. That’s spilled over into USD weakness with EUR/USD briefly breaching 1.18. It remains near the lows but the euro daily chart is an interesting one.

Dollar on the back foot