Greenback provides again a few of its post-Fed good points

USD/JPY could also be on the highs for the day at 156.85 however the greenback is decrease towards the remainder of the key currencies bloc in the mean time. The buck is down round zero.three% to zero.four% throughout the board, so the losses elsewhere aren’t something too important as in comparison with the good points caught throughout the post-Fed response yesterday.

Within the case of EUR/USD, the pair is up zero.four% to close 1.0400 however is holding slightly below the determine degree for now with giant choice expiries in play as famous right here. That may assist hold a lid on issues earlier than we get to the US weekly preliminary jobless claims later.

In addition to that, GBP/USD can be up zero.four% to 1.2620 and USD/CAD down zero.three% to 1.4403 presently. The latter continues to be seeing a significant breakout because it climbed to its highest ranges since March 2020 yesterday. On the month-to-month chart there, a agency break above 1.4100 will mark a major step in attempting to push to check key resistance round 1.4500 by way of to 1.4600 ranges subsequent.

Elsewhere, AUD/USD can be seen up zero.three% to zero.6238 now after having run right into a take a look at of the zero.6200 degree:

That may be a key degree on the weekly chart as seen above, having stalled the draw back transfer again in October 2022. That stated, the pair continues to be down four% this month with sellers effectively in management amid the very gentle bounce on the day.

To date, it is all only a mushy retracement to the strikes yesterday and we’re seeing an analogous temper play out in broader markets as effectively.

S&P 500 futures are up zero.four% whereas gold is up 1.1% to $2,616 on the day presently. Within the bond market, 2-year Treasury yields are down 2.6 bps to four.33% however 10-year Treasury yields are holding steadier at four.52%.

This text was written by Justin Low at www.ubaidahsan.com.



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