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CB Consumer Confidence miss vs forecasts… US stocks slip back but still bid… bond yields tick down…USD follows
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US Ind Prod small beat… US 10 year ticks closer to 4.20%… USD following yields
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Newsquawk US Daily Equity Opening News
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US 3rd qtr GDP beats… limited FX reaction but US bond yields tick up, equities slip
See results in our Economic Data Calendar
Weekly ADP (not as market mover)
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Newsquawk Daily US Opening News
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In our blog:
Addendum added to cover this latest round of verbal intervention
Understanding Forex Intervention: Lessons from Japan’s Approach to the Yen
XAUUSD (GOLD) UPDATE
- Came within spitting distance of the 4500 target (high 4497), confirming this as the key obstacle on top.
- The one way move up has left little in the way of obvious supports (or stops) with intra-day minor at 4460, more significant at 4428 (stays bid while above it).
XAUUSDÂ 1 HOUR CHART
Forex Market Snapshot
The dollar remains on the defensive as it extends its pre-Xmas slide across-=the-board.
- USDJPY reacting to stepped up intervention threats that has seen the 4 hour up trendline broken and shifted the risk to 155.xx supports (scroll down to see chart)
- EURUSD trading with a bid while above 1.1750 with 1.1800-20 now in sight
- GBPUSD extending its high above 1.35 , now pivotal (bid above, less bid below)
- EURGBP bounced off key 8720 support, allowing EURUSD to play catchup vs the GBPUSD
- US stocks remain firm but have so far traded a quiet session after rising yesterday
- XAUUSD remains the pre-Xmas star, extending its record high closer to 4500
- BTCUSD not joining the party and is trading lower.
- A slew of US data due today
USDJPY UPDATE
- As I have been noting the level the Boj/Mof does not want to see trade is 157.88 and the pause below it confirms this view.
- To build momentum to the downside, 156.70 and the 4-hour trendline need to be firmly broken, void to 155.47 below it.
- On the upside, above 157.57 would be needed to negate the risk.
- Note stepped up verbal intervention by MOF’s Katayama.
USDJPY 4 HOUR CHART
Newsquawk US Stock Market Wrap
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Newsquawk US Market Wrap
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US500 (SP500) UPDATE
- Little standing in the way of the record 6925 which makes it a formidable obstacle, especially at this time of the year.
- Otherwise, it has one-way up since 6715 so no obvious supports (or stops to go after), which  suggests a buy on dips mode as long as it trades above 6800.
US500 DAILY CHART
Elusive russia-Ukraine peace deal
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ECB to stay on hold (note EURGBP slipped after this headline came out awhile ago)
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