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USDJPY moves to the highest level since September 17

Extends about 38.2% retracement of the last trend move lower The USDJPY has been able to extend above its 100 hour moving average at 104.637 AND now the  at 104.905 and the high from yesterday at 104.89 (the price also moved above the topside channel trendline).  
Sep 22, 2020 Read more

Sterling struggles to make headway even after Bailey rules out near-term negative rates

Cable trades at 1.2750 The UK is at the confluence of trends in the virus and central banking. Looming new restrictions have added to the Brexit angst around the currency and talk of negative rates have weighed. Bank of England Governor Andrew Bailey tried to walk back negative rate talk today.
Sep 22, 2020 Read more

USDCHF moves to a near 2-week high

Trades to the highest level since September 9.   The next target would be at the September 9 highs at 0.91896. On September 8, the high for the month came in at 0.91998.  That was just above the August 12 high price of 0.91972. A move above the 0.9200 level would be needed to solicit more buying (see daily chart below).
Sep 22, 2020 Read more

Watch live: Powell and Mnuchin appear at House committee

Powell's text was released yesterday There was nothing surprising in Powell's released text late yesterday. Here are the highlights: His comments didn't move markets but there will be a Q&A after he reads the speech. He's scheduled to start at the bottom of the hour.
Sep 22, 2020 Read more

Fed's Evans: US has been able to return to about 90% of precrisis economy

Chicago Fed Pres. Charlie Evans speaking - What has surprised him the most is that the US has been able to return to about 90% of precrisis economy - He is surprise that even as Covid 19 death toll rises, he has marked up his growth forecast
Sep 22, 2020 Read more

Eurozone Sept advance consumer confidence -13.9 vs -14.7 expected

September advance consumer confidence data
Sep 22, 2020 Read more

US August existing home sales 6.00m vs 6.00m expected

US August existing home sales data This is the highest reading since 2006. Some of the jump is certainly a give-back from the halt on activity in the spring but all indications are that sales will remain robust for many months to come.
Sep 22, 2020 Read more

Richmond Fed manufacturing index for September 21 vs. 12 estimate

Richmond Fed manufacturing index for September 2020
Sep 22, 2020 Read more

Audio recap: Will Tuesday prove to be a tale of two halves?

What to watch for in the market today  Tuesday kicked off with a sour tone that carried over from Monday's risk liquidation. But things are trying their best to turn around with US equity futures finding some support off the lows and currencies ticking back up a bit against the buck.
Sep 22, 2020 Read more

EURUSD having a pattern of rejecting new lows

The last 3 of 4 days has seen the EURUSD trade to new lows, only to reject the moves The EURUSD moved to a new September low for the 3rd time in the last 4 trading days. Like the previous 2 other breaks, traders rejected the moves, and the price snapped back higher. 
Sep 22, 2020 Read more

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