Titles:
Markets:
- The Australian dollar advances, and the New Zealand dollar lags during the day
- European stocks fall; S&P 500 futures fell 0.1%
- US 10-year bond yields rose 4.9 basis points to 4.286%.
- Gold fell 0.3 percent to $2,310.84
- West Texas Intermediate crude rose 0.7% to $81.38.
- Bitcoin fell 0.9% to $61,329
There was some good movement in European morning trade today, with the dollar holding stronger across the board supported by rising bond yields. This sent the USD/JPY pair rising to the 160.00 level again and is now testing the waters above that today. The highest level for today is at 160.40, which corresponds to the highest level recorded in 1990.
I would not underestimate the possibility of the pair rising considering that the sky is technically clear. But it’s all a psychological game now, and if buyers push it too far too quickly, Tokyo will be ready to step in again.
With stocks also giving up early gains and yields rising, that keeps the dollar supported today.
The EUR/USD pair fell 0.3% from 1.0710 to 1.0680 while the GBP/USD pair fell 0.3% from 1.2680 to 1.2645 during the session. Meanwhile, the USD/CAD rose 0.2% to 1.3690 and the NZD/USD fell 0.4% to 0.6095 during the day.
The Australian dollar is the leading gainer despite higher inflation numbers earlier. But AUD/USD has fallen from 0.6680 levels to 0.6650 levels now, although it is still up 0.2% on the day.
As a reminder, the end of the month and end of the quarter are approaching, so that will be a factor to consider in the upcoming sessions as well.