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EUR/USD on the drift as further EUR/JPY profit-taking kicks in
Since my last update, noting the drop back from new 15 year highs in the EUR/JPY, that cross has come back further and the drop below the previous noted, post US closing low has delivered further downside. The EUR/JPY has dropped back closer to 163 a short while ago and that has dented the EUR/USD. So, you can see how the EUR/USD and USD/JPY have moved lower in tandem and that is 100% driven by the EUR/JPY cross rate. The upshot of that, is that it has forced the EUR/USD to session lows a short while ago, as it dips underneath 1.0850 for the first time today. As to how far this interim reversal in the EUR/JPY will extend is not easy to gauge right now, but of course it has come a long way already this week. The EUR/USD is just now trading at 1.0848
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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...
