Jobs at the highest level since December 31
GBPUSD is testing (and now moving above) August high of 1.32665. The high price has just passed above that level at 1.32835. This high just tested the high Dec.31 price at 1.32833. The price stalled on 1st look, but the pressure remains for a break. The dollar sells in response to Fed Powell’s move toward “averaging inflation over time” as the Fed’s target. This implies that the Fed will remain on hold for a longer period.
A move above that level would then target highs going back to the February and March 2019 targets, 1.33496 and 1.33795 (not shown) ahead of the December 2019 high price at 1.35139. The.
On other markets just before the opening of the US stock market, it emerges:
On other markets just before the opening of the US stock market, it emerges:
- S&P index up 10 points
- Dow up 104 points
- NASDAQ up 45 points
- spot gold is trading up $ 9.85 or 0.5% $ 1964.36
- cash is up $ 0.21 or 0.78% $ 27.72
- WTI crude oil futures are trading down $ 0.04 or -0.9% to $ 43.35
- 2-year yields are trading at 0.140%, -0.9 basis point
- 10-year yields are trading at 0.665%, -2.2 basis points