It is going to be Presidents’ Day within the US and home markets are closed, making for an extended weekend. In flip, that’s prone to translate to a extra a lackadaisical temper for different areas as effectively. Up to now, it has been quiet in Asia and that’s virtually definitely going to hold over to Europe contemplating the dearth of key financial knowledge releases right now.
In FX, main currencies are fairly subdued and holding in slender ranges. The greenback is buying and selling pretty blended, after the indecisive image painted final week.
EUR/USD trades again above its December low of 1.0723, having invalidated the break decrease within the second half of final week. In the meantime, USD/JPY continues to seek out itself caught in and across the 150.00 mark. In addition to that, GBP/USD simply cannot decide on a drop beneath 1.2600 whereas AUD/USD continues to contest its 100-day shifting common, seen at 0.6540 presently.
Within the bond market, we noticed 10-year Treasury yields rebound within the latter phases final week. It’s retaining above 4.20% however yields are nonetheless held again by the 100-day shifting common close to 4.33%. As such, that can also be limiting a lot of the greenback poise in the meanwhile.
Within the commodities house, gold continues to shine because it extends a bounce off its personal 100-day shifting common. The valuable steel is up 0.3% to $2,018 now in quest of a 3rd straight day of features. Elsewhere, pure fuel continues to be hammered decrease because it nears the 2020 low. The heavy promoting hasn’t let up in anyway within the final 5 weeks.
