- The USD Index was the big loser on the day, plunging 3 big figures to a low of 107.67 from an intraday high of 110.99 before the data. Though it recovered marginally to close at 108.20, that is the lowest close since mid-September. Stocks skyrocketed significantly adding to expectations for a stepdown in Fed rate hikes and a paring in projections for the terminal rate. Yields dived 30 bps in the belly to 3.938% on the 5-year. The 10-year was down 27 bps to 3.813%. It was the first close under 4% since October 27. The 2-year yields had their biggest drop since 2008.
- EUR – rally above parity and currently at 1.0230.
- JPY – drifted to 140.19 from 146.50 high. Biggest fall since 1998.
- GBP – Sterling spiked to 1.1736 post US CPI data. This morning, GDP showed that the UK economy contracted less than expected in the third quarter.
- Stocks – Wall Street broke 2-month resistance. US100 rocketed 7.35% higher to 11,114, with the US500 surging 5.54% to 3,956, while the US30 was up 3.70% to 33,715. This was the strongest percentage pop in over two years.
- USOil – higher at $88.60 from $84.73.
- Gold – had its best week since March, spiking to 1760, has risen 4.2% so far in the week.
- BTC – Crypto crisis continues, however yesterday Bitcoin reverted some losses turning at 17940.
Today – European Commission releases Economic Growth Forecast, Michigan Sentiment, ECB’s Panetta, Guindos & Lane Speech.
Biggest FX Mover @ (06:30 GMT) AUDJPY (+0.82%) rallied from 0.6390 low yesterday to 0.6659 now, next resistance 0.6700. MAs aligning higher, MACD histogram & signal line positive & rising, RSI 72 & flat, H1 ATR 0.0025, Daily ATR 0.0118.
Click here to access our Economic Calendar
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.