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USD & Yields cool

11 March 2021

Core inflation missed (0.1%) and 10-yr auction was filled at 1.52%, better than expected. DOW closed at new ATH (+1.46%; 32,297) – Nasdaq flat – Stimulus bill passed – $1400 check to those on less than $75K and extra $300/week for unemployed. BOC – no change until “inflation objective is sustainably achieved”. Asia (China & SK rallied over 1.5%), Nikkei +0.6%. Huge Oil inventory build (13.8m vs 3.0m) shrugged off – tests $65 again.

The USDIndex has posted a six-day low at 91.68, extending the retreat from the 15-week high that was seen on Tuesday at 92.50. EURUSD concurrently lifted to a five-day high at 1.1947. Cable edged out a one-week high at 1.3954. The Australian and New Zealand Dollars saw the biggest magnitude of gains against the Greenback. AUDUSD hit a one-week peak at 0.7779. USDCAD pegged a two-day low at 1.2590.

A second principal theme in the currency market today has been yen underperformance. USDJPY, despite the broader softness in the Dollar, rose to an intraday peak at 108.81, extending a rebound from yesterday’s low at 108.33. EURJPY and AUDJPY posted two-week highs, while GBPJPY hit a fresh 35-month high and CADJPY came within 10 pips of the 28-month high that was seen earlier in the week. The Yen is registering as the weakest of the main currencies on the year so far. BoJ Governor Kuroda said last week that the yield curve needs to remain “stably low,” though said policy will be assessed at the upcoming March policy review. The rootedness of JGB yields, with the 10-year yield being pinned near to 0% under the yield curve control policy, has seen differentials versus other sovereign yields tip markedly out of the currency’s favour this year.

Today – ECB policy announcement, US JOLTS & Weekly claims, OPEC MOMR & US 30-year bonds.

Biggest (FX) Mover @ (07:30 GMT) AUDJPY (+0.71%) Big move from 83.50 lows yesterday, over 84.00 today and R3 at 84.45. Faster MAs aligned and higher, RSI 82.6 OB but still rising, MACD histogram & signal line aligned higher but looking stretched. Stochs 92 and OB from breaking 84.00 earlier. H1 ATR 0.1320, Daily ATR 0.9125.




The EUR/USD Price Prediction 2022. The Bulls or the Bears, Who Will Prevail?
The EUR/USD Price Prediction 2022. The Bulls or the Bears, Who Will Prevail?

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The Euro's oversold is a sign for more volatility to come
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EURUSD is knocked out again
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EUR/USD seems vulnerable near multi-month low
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The EUR/USD pair remained on the defensive through the Asian session and was last seen trading around the 1.1270-65 region, just a few pips above a 16-month low touched on Friday...

22 Nov 2021

EUR/USD snaps two-day rebound near 1.1350 as USD tracks firmer yields
EUR/USD snaps two-day rebound near 1.1350 as USD tracks firmer yields

EUR/USD stays pressured around an intraday low of 1.1352, down for the first time in three days ahead of Friday’s European session. In doing so, the major currency pair reacts...

19 Nov 2021

The greenback dominates the market
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EURUSD stopped falling on Thursday, but investors are still interested in the “greenback”. The major currency pair slowed down its decline and is trying to reach stability...

18 Nov 2021

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