it was a quieter day in the US after a couple of days of Trump fireworks. The economic calendar was light with leading indicators falling again after rising for the first time since February 2024. Prior to that rise the index hadn’t had a positive number since March 2022. The index is a permanent negative looking for a recession that just hasn’t happened.

Canada producer prices came in lower than expectations of 0.2% versus 0.6%. With concerns about tariffs, the price of the USDCAD moved back to the 100/200 hour MAs between 1.43848 and 1.43912 on two separate tests including in the last hour of trading today. In the new trading day, getting above those moving averages would tilt the buys more to the upside. At session lows today, the price did hold against support swing area between 1.42899 and 1.4304.

The USDJPY moved higher in trading today ahead of the BOJ rate decision on Friday (est 0.25% hike?). THe price is closing above the 200 hour MA at 156.46, but momentum on the break has been limited. Nevertheless, if the price can stay above that moving average, the buyers would have more control.

The EURUSD peaked today near the 61.8% of the move down from the December high and also near the swing area between 1.0448 and 1.0461. The sellers leaned against the level and pushed the price lower in the US session and back toward the 50% retracement on the hourly chart at 1.0403. The 50% of the range since 2022 low is also near that level at 1.0405. So with both 50% levels near the same level, the 1.0403 area will be a key barometer in the new trading day. Stay above is more bullish. Move below is more bearish.

Looking at the USD vs the major currencies, the greenback was higher vs all of them. THe changes on the day of the USD vs the major currencies shows:

EUR, +0.19%
JPY, +0.66%
GBP, +0.31%
CHF, +0.06%
CAD, +0.41%
AUD, unchanged
NZD +0.19%

Looking at other markets at the end of day, US stocks closed higher with the S&P making a new intraday higher at 6100. The gains could not be sustained and the price closed below the high closing level as well at 6090.27 (closed at 6086.37).

The final numbers for the major indices are showing:

Dow industrial average rose 130.92 points or 0.30% at 44156.73.
S&P index rose 37.13 points or 0.61% at 6086.3 index needs to close7. The record high close is at 6090.27. The intraday high today of 6100.81 is the new intraday high price.
NASDAQ index rose 252.56 points or 1.28% at 20,009.34.
Russell 2000 fell -14.24 points or -0.61% at 2303.71. The Russell 2000 was on a six -day win streak. That was broken with the decline today.

US yields are closing higher despite a strong 20 year bond auction with the high yield -1.1 basis points below the WI level and the Bid to cover at 2.75X comfortably above the 6 month average of around 2.5X . The final numbers are showing: