The US stocks are lower. The USD yields are lower. The USD is mixed (but little changed) vs the major currency pairs to kickstart the US/North American session.
In the video, I kickstart the US trading session by looking at the EURUSD, USDJPY and GBPUSD from a technical perspective. What are the roadmaps for traders today? I will enlighten traders with my view from the price action and the technical tools that show bias, risk and targets – the three key ingredients for you as a trader.
Looking around the markets, the pressure remains on the US stocks to in premarket trading. The futures are currently implying
- Dow -332 points after tumbling by -557.24 or -1.18% yesterday
- S&P is down -34 points after falling -6.170 or -0.92% yesterday
- Nasdaq is down -100 points after falling -192 points or -0.84% yesterday
Amazon and Microsoft are down -2.13 and -1.7% respectively in premarket trading after downgrade by Rothchild. Home Depot is down close to 4% after earnings disappointed this morning (EPS $3.78 versus $3.85 expected). They lowered their outlook going forward. Nvidia shares are down -1.18% after falling -1.8% yesterday. Nvidia announces earnings after the close tomorrow.
In the US debt market, yields are lower by about 2 – 4 basis points across the yield curve:
- 2-year yield 3.570%, -4.0 basis points
- 5 year yield 3.682%, -3.9 basis points
- 10 year yield 4.099%: 3.3 basis points
- 30 year yield 4.711%, -2.5 basis points
Today US factory orders for August will be released with expectations of 1.4% versus -1.3% in July. Within that report, will be a revised durable goods for August.
Looking at other markets:
- Crude oi is trading up $0.10 at $60
- Gold is down $5.50 or -0.12% at $4039
The USD is mixed to start the day and little changed vs the 3 major currency pairs
