US stocks continue to grind higher but USD/JPY unimpressed

S&P 500 at the highs of the day

US stocks have recouped more than half of yesterday’s losses. The S&P 500 is up 38 points to 2850 after falling 69 points yesterday.

The market is feeling better about the chances of a US-China trade deal after some upbeat comments from Trump. However it’s all very vague at the moment and tension remains high.

The volatility in the FX market remains much lower than in stocks. USD/JPY is up 37 pips to 109.67 but has hardly budged all day and remains below the Asian highs. The rebounds in yen crosses are similarly uninspired.


Articles You May Like

USD/JPY technical analysis: Greenback under pressure at 6-day lows, sub-108.00
Ray Dalio: A paradigm shift is coming (and here is what’s to buy)
Cable holds calmer to start the day, what levels to look out for?
GBPUSD Downtrend May Be Amplified by BoE Credit Assessment, Brexit
ICYMI: US Treasury Secretary Mnuchin said no change to USD policy for now

Leave a Reply

Your email address will not be published. Required fields are marked *