|Day's Range||109.35 - 110.02|
|52 Week Range||104.6670 - 114.7250|
Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action as the Dow is set to snap an 8-day losing streak. Here's the performance of select trending stocks as of 10:30 am ET: GERN(HB) Geron Corp 5.03% CHK Chesapeake Energy Corp 3.59% KMI Kinder Morgan Inc 2.74% XOM Exxon Mobil 2.25% DB(HB) Deutsche Bank Ag Ord 1.38% PBR Petroleo Brasileiro S.A. ADS 1.17% TXMD(HB) TherapeuticsMD Inc 1.27% INTC Intel Corp 1.06% WFC Wells Fargo 1.01% GM(HB) General Motors Co 0.97% PG Procter & Gamble Cc 0.88% TRXC(HB) TransEnterix Inc 0.77% GE General Electric Co 0.78% AMD Advanced Micro Devices Inc 0.73% JNJ Johnson & Johnson 0.74% SIRI(HB) Sirius XM Hldgs Inc 0.56% F Ford Motor 0.51% SBUX Starbucks Corp 0.55% WMT Wal-Mart Stores 0.48% BA(HB) Boeing Co 0.41% JPM JPMorgan Chase & Co 0.29% SPY SPDR S&P 500 ETF 0.26% BAC Bank of America Corporation 0.25% TEVA Teva Pharm Indus ADR 0.17% C Citigrp Inc 0.11% QCOM Qualcomm Inc 0.05% IBM Intl Business Machines Corp 0.05% DIS Disney (Walt) Co 0.02% BIDU(HB) Baidu Inc -0.07% MOMO Momo Inc ADS -0.10% JD JD.com Inc -0.15% T AT&T Inc -0.17% CSCO Cisco Systems -0.39% QQQ Invesco QQQ Trust Series 1 -0.44% BABA Alibaba Group Holding Ltd -0.48% SNAP(HB) Snap Inc -0.68% MDGL Madrigal Pharma Inc -0.79% GOOG Alphabet Inc Cl C Cap Stock -0.71% GOOGL Alphabet Inc Cl A -0.76% OLED(3) Universal Display Corp -1.06% TWTR Twitter Inc -1.23% MSFT Microsoft Corp -1.29% MU Micron Tech -1.68% SQ Square Inc -1.60% CRSP(HB) CRISPR Therapeutics AG -1.77% NVDA Nvidia Corp -2.05% AMAT Applied Materials -2.10% CRM salesforce.com Inc -2.32% TSLA Tesla Inc -2.42% BOX(0) Box, Inc -2.61% UVXY(HB) ProShs Ultra VIX Short-Term -3.19% HMNY(HB) Helios and Matheson Analytics -3.64% TVIX(HB) VS 2X VIX Short Term -4.26% IQ(HB) IQIYI Inc ADS -7.55% BRK-B BRK-A 0005.HK ACB.TO YM=F CADUSD=X GC=F BBD-B.TO ^RUT
Investing.com - The yuan continued to weaken against the US dollar amid the prospects of a trade war continue to hang over the market and China’s central bank announced plans to free up almost USD108 billion worth of liquidity to shore up the economy.
Investing.com - U.S. inflation data will be in focus this week with the Federal Reserve having already flagged four interest rate hikes this year. The Fed’s preferred inflation measure; the core PCE price index is due on Friday.
The Greenback rallied early last week against a basket of currencies as traders bet on an escalating trade war forcing inflation up in the U.S. because of costlier imports, raising the prospect of more interest rate hikes.
The US dollar went back and forth during the course of the week against the Japanese yen, as it is one of the most volatile pairs when it comes to reacting to the trade war noise that we continue to see between the United States and China. I think that continues to be the case, and of course structurally it looks very noisy just above as well.
The British pound initially fell during the week but found enough support near the ¥145 level to turn things around of form a hammer. The hammer of course is a bullish sign, and it is preceded by hammer a couple of weeks ago, which has been formed around the ¥145 level again.
The US dollar rallied rather significantly overnight against the Japanese yen, slamming into the ¥110.20 level. The market continues to find buyers in the range of the ¥110 level, and at this point I think this market continues to be very volatile, but if you are short-term trader, this could be exactly where you wish to play.
The British pound rallied a bit during the day on Friday, as we have broken cleanly above the ¥146 level. There is still a significant amount of noise just above, so any move to the upside is going to be very choppy to say the least. However, it does look as if we are making an argument for higher levels.
Investing.com – The U.S. dollar was on track to post a weekly loss against its rivals as mixed U.S. economic data weighed on sentiment and ongoing euro strength curbed upside momentum.
The euro remained higher on Friday, as the U.S. dollar fell and trade concerns lingered. EUR/USD rose 0.26% to 1.1633 as of 11:24 AM ET (15:24 GMT) after French and German business activity in June came in higher than expected, easing concerns of a slowdown in the eurozone. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.19% to 94.36.
The pair shot higher during the yesterday’s session after reaching its major support level at 1.15 level. The British Pound shot higher during the yesterday’s session breaking above the 1.32 level and then continued towards the 1.3250 level. If it breaks above the 1.33 level, then it will be a very big development and could send the British Pound much higher.
Investing.com - The euro was steady on Friday, as the U.S. dollar fell amid trade war concerns.French and German business activity in June came in higher than expected, easing concerns of a slowdown in the eurozone.EUR/USD rose 0.57% to 1.1669 as of 5:18 AM ET (9:18 GMT) while the pound was higher, with GBP/USD rising 0.52% to 1.3308.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.42% to 94.14.Tensions between the U.S. ...
Investing.com- The dollar fell off a 11-month high in morning Asian trade on Friday, as analysts say the plunge of Philadelphia Federal Reserve’s manufacturing index prompted some traders to book profits on bullish dollar bets.
Safe-haven demand drove the Dollar/Yen lower on Thursday as investors reacted to a steep sell-off in U.S. equity markets and a drop in U.S. Treasury yields. On Friday, these two factors are likely to continue to drive the price action along with the outcome of the OPEC meeting in Vienna. The Dollar/Yen relationship has been volatile all week after President Trump requested the United States Trade Representative to identify $200 billion worth of Chinese goods late Monday, for additional tariffs at a rate of 10 percent.
The US dollar fell during the Thursday trading session against the Japanese yen, slicing down towards the ¥110 level again. As I record this, it looks like the market is trying to form a bit of a bounce, and the support certainly seems to be there. The ¥110 level continues to be an area of importance.
After the Bank of England statement during the day on Thursday, the British pound rallied rather significantly against the Japanese yen, reaching towards the ¥146 level. As the market has reacted so strongly, it does suggest that perhaps we are starting to firm up again, as the statement was a bit more hawkish than previously released statements.
Investing.com – The U.S. dollar gave up its early gains against its rivals following weaker Philadelphia Fed data and a rebound in sterling after the Bank of England's hawkish pivot.
Investing.com - The dollar eased after hitting the highest levels of the year on Thursday following the release of soft U.S. manufacturing data, while the pound was higher after the Bank of England laid the groundwork for an August rate hike.
Investing.com - The dollar rose to the highest levels of the year against a currency basket on Thursday, while the pound fell to seven month lows ahead of the conclusion of the Bank of England policy meeting later in the day.
Investing.com - The dollar rose to near eleven month highs against a currency basket on Thursday, supported by expectations for a faster pace of rate hikes this year, while the pound was at the lows of the year ahead of the Bank of England meeting later in the day.
The pair traded on a choppy note during the Wednesday’s session initially tried to move higher but pulled back. The market seems to be trying to form a base around the 1.1550 level using the strong support level at 1.15 level.
Traders looking to get bullish on the British pound ahead of Thursday’s Bank of England meeting might want to try taking the dollar out of the equation, analysts said. Sterling (GBPUSD) hovered around a 7-month low versus the dollar ahead of the central bank meeting, thanks in part to a nearly relentless rally by the U.S. currency that began back in April. To get around that, traders looking for a more hawkish tone from the Bank of England might look to the euro-sterling (EURGBP) pair, which is also seen as a more accurate Brexit risk barometer, analysts said.
Investing.com- The dollar took some steps back towards normalcy during morning trade in Asia Thursday, recovering its poise from the risk-aversion caused by elevated trade tensions between the U.S. and China earlier this week.
The Dollar/Yen is trading higher early Thursday with strong buying driving the Forex pair through the highs from Wednesday and Tuesday. The upside momentum being generated by this move has put the market in a position to challenge a key technical area at 110.859 and the main top at 110.905. The price action is being driven by increased demand for higher risk assets and the shedding of the safe-haven Japanese Yen.
The world is in a very interesting place right now, through personal observation I have noted that it seems the Asians are much more concerned about the trade war situation than the Americans. This has led to a very interesting trade in the USD/JPY, as it seems the Asians are flooding to the Japanese yen, and the Americans will attempt to turn the trade back around.