Forex:
The Forex Winners and Losers (a Snapshot)
The strongest currencies today, were some of the the weakest yesterday. Leading the league table is the Swiss Franc, the Canadian dollar and the Australian dollar. The Swiss Franc is higher on the back of the flight into the safety as a result of US airstrikes. The Australian dollar was helped by China Manufacturing PMI which came in a touch better than expectations at 50.5 vs 50.0 estimate. The Canadian dollar rose strongly yesterday. Today, there seems to be some profit taking. Most commodity prices are higher including Gold which is back above the 100 hour MA (see chart below).
Gold has moved above teh 100 hour MA (blue line) and 200 hour MA (green line) in trading today (bullish)
The weakest currencies today are the NZD and the USD. Against the EUR, the greenback has rallied back above the lows from September 9th at the 1.2859 area and there seemed to be a disappointment bid enter. The PMI Flash data was lower than expectations in the EU. In Germany it was a better however. The price is now back above the 100 hour MA at the 1.2877 level and held that level on the last hourly bar (Watch for support now). The 200 hour MA is at 1.2908. A move above the 200 hour MA would be a even more bullish development for the pair in trading today. Recall, that the price of the EURUSD held below the tandem of the 100 and 200 hour MA last Thursday and early Friday before tumbling to new 2014 lows.
Technical Analysis: EURUSD is back above the 100 hour MA and held above the MA on the last hourly bar.
Stocks and Bonds
With the exception of the Shanghai Composite, the global stock markets are showing more weakness in trading. The global bond yields have been moving lower in recent trading. Spain and Italy bonds are now getting more and more comfortable below US yields.
Stocks and Bonds. European and Pre-opening US stock indices are lower today