The 10th hourly bar trader below both. There is a change and it is to the downside. The NZD is the strongest. The EUR is the weakest. US 2ss down to 54 basis points It's tough to envision US rate hikes next year with the yield curve staying positive.
At the same time, the flattener has been a popular trade for months so it could be dangerously crowded. The statement is likely to continue to read "the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
We still have a couple hours until the headlines hit. The best level so far today is 0. New low for the trading day US stocks are starting to give up gains. The Dow which treated as high as is now down at , up points.
The Nasdaq composite index is now down 40 points or It is just off the lows at On that day, the CHF was the beneficiary on the flight to safety on the back of the Flynn news and concerns about the Senate tax reform vote. Over the weekend, the Flynn news was less damning for the President AND the tax reform was indeed passed.
Trend line cuts across at 1. Earlier today that line was broken on two successive hourly bars. The price should have moved lower, however, there was no momentum. We are still looking for a break below AND stay below to turn the tide more to the downside. We are on the 5th point along that line with the addition of the current bar.
Then things got messy and when the BBC reported that negotiations would not lead to an agreement today, the pair rebounded sharply. The price is trading back up at 1. Market are very volatile in GBP pairs. In the process, the pair dipped below the and bar MA on the 5-minute chart blue and green lines in the chart below. The price has not traded below the bar moving average today.
The Asia-Pacific flow came in at Earlier in the fall stalled at a lower trendline on the hourly chart. The subsequent rally the price back up to the hour moving average.
The pair even peaked above the MA line but stalled quickly and started the fall back down. However,the story was less than what the headlines made it out to be at least initially at least and as a result, we are seeing the unwind of the trade.
Not much of a trading range though A technical update of the USDJPY trading, is showing that the pairs' lows from the first hour of trading remain intact at The most recent low stalled at The run to the upside, stalled ahead of Friday NY session highs at 1.
The high price today reach 1. However, like the three times last week, the breaks did not have much momentum and the price has rebounded. Title text for next article. Get the ForexLive Newsletter. Bounces on the last test.More...