November 18, 2024 at 06:03AM
It’s a quiet one to start the week and also in terms of market moves so far. The dollar is keeping steady but failed to advance gains at the end of last week, and is seen little changed now. EUR/USD is still holding above 1.0500 while USD/JPY saw a tumble back under 155.00 but is now keeping in between its 100 and 200-hour moving averages of 155.14 and 154.31 respectively.
10-year Treasury yields are little changed at 4.43% while S&P 500 futures are up 0.3% currently. Elsewhere, Bitcoin is up slightly on the day just above $90,000 while gold is catching a neat bounce off its 100-day moving average back up to $2,584 currently.
Looking to European trading today, there won’t be much to really shake up the underlying dynamics in broader markets. It’s now a question of if the dollar and Trump trades can keep up their post-election momentum. And that will be the main thing to watch out for after having braved through the US data deluge from last week.
0900 GMT – SNB total sight deposits w.e. 15 November1000 GMT – Eurozone September trade balance data
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
This article was written by Justin Low at www.forexlive.com.
