The dollar is recouping some losses from Friday after the non-farm payrolls figure wasn't as hot as what markets cooked it up to be. That saw the gree
The dollar is recouping some losses from Friday after the non-farm payrolls figure wasn’t as hot as what markets cooked it up to be. That saw the greenback fell despite yields shooting higher and we are seeing that correct a little today.
In particular, yen pairs saw a noticeable pullback but a lot of that is being erased today with USD/JPY itself up nearly 90 pips in a push to 142.90 levels at the moment.
The dollar itself is steadily gaining across the board, as risk sentiment continues to stutter since the turn of July. S&P 500 futures are now down 18 points, or 0.4%, on the day and that is keeping risk assets pinned down. AUD/USD might have gotten a bit of a reprieve but is still unable to crack the key daily moving averages at 0.6683-96 currently.
Meanwhile, gold also is unable to really gather much conviction despite the dollar’s floundering last week. Price is now holding around $1,920 and it seem like we are due another test of $1,900 before finding out if there is going to be a stronger bounce or a breakdown below the figure level.
As for oil, we are seeing WTI crude run up against its 100-day moving average at $73.56 and that alongside the $74 mark will be crucial in seeing if there is appetite for bulls to try and break higher. There has been a solid consolidation at support just below $70 from its 200-week moving average and now buyers are readying up their conviction.
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