Trump has delayed US involvement In the Iran and Isreal conflict to allow diplomatic action to continue for up to 2-week. Today, Germany, France and UK will meeting. Trump will attend a National Security Meeting at 11 AM ET today. Meanwhile, Israel has increased orders for the military to increase attacks on Iranian regime targets within Tehran, but there are also hints from reports, that Iran is willing to discuss limiting uranium enrichment.
So the winds of war/conflict are shifting and that has the USD mixed. At the start of the US session, the EURUSD is higher, the GBPUSD moved higher in Asian trading, lower in the early EU trading helped by weaker retail sales, but has since rebounded back to the highs. The USDJPY has rebounded higher after declines earlier in the Asian session.
In the video above, I will take a technical look at the three major currency pairs irrespective of all the storylines in play.
US stocks are now higher but were lower not too long ago. The futures are implying:
- Dow industrial average up 66.34 points
- S&P index up 6.5 points
- NASDAQ index up 37 point
US yields remain somewhat steady:
- 2 year yield 3.967%
- 5 year yield 4.02%
- 10 year yield 4.435%
- 30 year yield 4.939%
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