Securities:
Markets:
- AUD leads, JPY lags on this day
- European stocks down; S&P 500 futures down 0.6%
- US 10-year yields down 0.4bp to 4.650%
- Gold up 0.6% to $2,329.53
- WTI crude up 0.1% to $82.22
- Bitcoin down 0.1% to $63,955
There wasn’t much action in European trading today as market movements were rather simple during the session.
The dollar is expected to fall slightly ahead of the subsequent release of first quarter US GDP data. The greenback is lagging across the board as we approach some key technical levels on the charts.
It is worth noting that GBP/USD is hitting a two-week high above 1.2500, but faces its 38.2 Fibonacci retracement level at 1.2526. Meanwhile, AUD/USD is also nearing its 200-day moving average at 0.6526 on the day. Furthermore, EUR/USD is up 0.2% at 1.0720 while USD/CAD is currently down 0.2% at 1.3670.
As for USD/JPY, it continues to hold above the 155.00 mark and oscillates around 155.50-70 mainly during the session.
In stocks, Meta’s earnings disappointment is trickling down and spooking investors. This weighs on tech stocks, but also weighs on overall sentiment. European stocks are mostly lower, while S&P 500 futures are down 0.6%.
Now it’s about the subsequent US data set and how traders will take it into account, again factoring it all into the Fed’s outlook.
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