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Forexlive Americas FX information wrap: Euro sinks to five-year low, yen bid | Forexlive


Markets:

  • Gold down $29 to $1822
  • WTI crude oil up $1.01 to $106.72
  • US 10-year yields down 5.6 bps to 2.85%
  • S&P 500 down 5 factors to 3930
  • JPY leads, EUR lags

The S&P 500 got here inside a hair of a 20% high-to-low decline however close to that space it discovered a bid to shut close to flat. The Russell 2000 gained 1.2% in an indication {that a} bid for worth is rising as Treasury yields retrace.

Sentiment relating to European progress is quickly deteriorating and that is evident within the plunge within the euro regardless of hawkish speak from the ECB. The low was 1.0355 shortly after the European closed and it bounced solely 20 pips regardless of the higher danger image.

The reversal in USD/JPY is perhaps the most-tradeable shift available in the market. With yields retracing, we could also be pricing in additional of a progress slowdown than simply excessive charges. As well as, there’s rising hypothesis that Japan will not be spared from inflation and that might quickly immediate a shift in ways from the BOJ.

Commodity currencies had been beatn up once more however usually tracked equities. The loonie outperformed its commodity cousins as oil and gasoline assist up once more (remarkably).

Bitcoin confirmed some life regardless of the Luna implosion and transient break of the buck for tether. $28,700 is not precisely gangbusters for bitcoin however it’s well-above the $25,400 low and the break under the longer-term lows.

FX wrap



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