The USD has seen moves lower today and than back higher in trading today. The moves have tested some key technical levels in the EURUSD, USDJPY and GBPUSD in the process.
In this video, I kickstart the North American session by breaking down those technicals that are in play in the consolidation trading seen today. What will kickstart a move higher or lower for each of those currency pairs today or going forward?
The US stocks are marginally higher. The big news is Netflix is set to acquire Warner Bros with a purchase price around $30 per share (currently new $24.77 ahead of the announcement. The stock is halted).
The futures are currently implying:
- Dow up 50 points
- S&P up 12.63 points
- Nasdaq up 81 points.
IN the US debt market, yields are marginally higher to start the day:
- 2 year yield 3.535%, +0.5 basis points
- 5 year yield 3.686%, +0.4 basis points
- 10 year yield 4.115%, +0.8 basis points
- 30 year yield 4.775%, +1.2 basis points
Looking at other markets:
- Crude oil is trading near unchanged at $59.70
- Gold is up $23.50 at $4231.22
- Silver is up $1 and $58.08
- Bitcoin is down $885 and $91,218
Canada jobs report will be released at 8:30 AM ET with employment change at -5.0 K versus 66.6 K last month. Report rate is expected to tick up to 7.0% from 6.9%.
US personal income is expected to rise by 0.3% for the month of September. PCE for September is expected to rise by 0.3% with the core up 0.2%. Year on year is expected at 2.8 and 2.9% respectively.
The preliminary University of Michigan sentiment index for December is expected to come in at 52.0 versus 51.0 last month. The current conditions is expected to rise to 51.3 from 51.1 while the expectations index is expected at 51.2 versus 51.0
