Ready to Get Started?
Start here. Join over 3M Libertex users around the world!
Dollar continues to flounder as GBP/USD takes out 1.2700
The dollar was clearly the subject of spot month end selling this afternoon and the catalyst for the that was comments from the Fed governor, Chris Waller. However, it was probably going to meet with selling into the spot month-end fix anyway. So, as already noted, the EUR/USD has finally reclaimed the 1.10 handle and it will be interesting to see if it can post a daily close above that tonight. Meantime, the slide in the USD/JPY has extended further now and closer to the noted 147.15 previous low and potential minor support level. The Pound continues to fare well versus the ailing dollar and that has now seen the GBP/USD rise above 1.27 as I type this update. That means it is close to the previously noted next resistance level, at 1.2720. That price point represents a 61.8% correction of the move, from 1.3142 to the low at 1.2037. The GBP/USD has just hit a fresh session high at 1.2714. It is currently trading at 1.2713
Market News
All News-
Nasdaq 100 extends opening gains closer to the first technical correction level (corrected)
Much earlier today an update here noted the first technical correction level on the Nasdaq 100. To repeat here; it is at 20,325 and represents a 38.2%... -
Nasdaq 100 extends opening gains closer to the first technical correction level
Much earlier today an update here noted the first technical correction level on the Nasdaq 100. To repeat here that, it is at 20,325 and represents a... -
US consumer confidence and Richmond Fed both miss estimates- EUR/USD edges higher
The earlier noted US economic releases (consumer confidence, new home sales and the Richmond Fed index) have just hit the screens. As noted earlier...
