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EUR/JPY and EUR/USD get hammered
An earlier update here on the EUR/JPY noted the risks of it falling to 160, when it was trading above 161.60. Well, it has since crumbled to below 160 and taken the EUR/USD with it. The EUR/USD also just got crunched sliding to new lows, taking out the 2023 low in the process and slumping towards 1.0325. The EUR/JPY fell to around 159.90, but it has rebounded off that low now. These dramatic moves have clearly seen someone throw in the towel on both pairs, but is that a surprise here? No it is not and you had been warned, but perhaps the speed and voracity of those moves is. The EUR/USD is rebounding right now, but this price action is to be expected after such a rapid sell-off. The EUR/USD is right now trading at 1.0388 and there will be more price action and swings to come so strap yourselves in for a wild ride
Market News
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EUR/USD rebounds into the 4pm London fix after Bundestag passes fiscal reform bill
The EUR/USD is on the rebound again just now. The gains come after it had earlier fallen to 1.0893. Subsequent to that fall the German Bundestag... -
US stock markets open lower this afternoon- check out the S+P 500 futures
The US stock markets have just reopened and it has been an across the board lower start to the session. The Nasdaq 100 has just kicked off at 19,657...
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Gold rises above technical resistance to set a new record high this afternoon
Since the last update here on Gold, the metal has now tested and taken out the noted trend line resistance level, in place around $3,029 per ounce...
