It was a very quiet session, although the market is showing some moderate movement heading into North American trading.
For the most part, FX was calm, but in the last hour, the dollar started to make ground, gaining modestly across the board in the major currency area.
- USD leads, NZD lags on the day
- European equities higher; S&P 500 futures up 0.2%
- US 10-year yields up 1 bps to 1.442%
- Gold down 0.5% to $1,889.37
- WTI up 0.2% to $70.43
- Bitcoin up 2.3% to $37,339
EUR/USD is falling from 1.2170 to 1.2135, while GBP/USD is falling from 1.4175 to 1.4140-50, just below its important hourly moving averages.
The USD/JPY pair rose from 109.35 to 109.58, while the AUD/USD pair fell from 0.7760 to 0.7737.
Equities are edging up once more, as the market continues to identify a perfect spot for stock gains at the time. Economic data continues to be strong, and major central banks are becoming more dovish, making stocks one of the only games in town right now, especially given the struggles of cryptos.
After yesterday’s drop, treasury rates have regained some stability.
NZD/USD is currently trading at 0.7163, down 39 pips. When the steady selling began four hours ago, it was up at 0.7210.
- Bitcoin (BTC) is trying to fix above the vital mark of $37,000. Yesterday’s growth was supported by a large trading volume that confirms the buyers’ power. If they can hold this level, the mark of $40,000 might be broken soon.
- Ethereum (ETH) has not followed the price action of Bitcoin (BTC) as the main altcoin has risen by only 0.32%.
- XRP is trading at $0.8633 at press time.
- DOGE has gone down by 1.14% over the last 24 hours.