Just when you think the data might be to tipping lower, the S&P/Global flash PMI indices , come in higher than expectations.
The 2 year yield moved from down about 5 or so basis points to up 1.8 basis points currently at 4.183%. The continue yield is now up to .1 basis points at 3.566%. Stocks have moved lower with the NASDAQ index down -0.5% and the S&P index down by 0.21%. The Dow industrial averages down -0.09%..
For the US dollar:
- EURUSD moved to a new high just before the data at 1.0993 as it approached key swing area between 1.09996 and 1.1006. The price has now fallen below the 200 hour moving average 1.0970 and the 100 hour moving average 1.0957. Once again it tilts the short-term bias back to the downside with swing area support between 1.0925 and 1.09438.
- USDJPY: The USDJPY moved to a new session low and new low for the week down to 133.54 prior to the release, but as push to a new session high and is up testing the 100 hour moving average 134.312. Move above that moving average with momentum would increase the bullish bias from a technical perspective.
- GBPUSD was looking to recover back above its 100 hour moving average of 1.24196, but has been pushed to a new session low to 1.23729. There is a swing area between 1.2386 and 1.2397. What’s that level for close resistance now.
GBPUSD reverses lower
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