A rather boring trading day is fired up after Bloomberg reported that Trump criticized Fed’s rate hike again. And this time, he specifically complained that Fed Chair Jerome Powell is not the “cheap money” Fed chair he expected. Dollar is currently trading as the third weakest for today, just next to New Zealand Dollar and Canadian Dollar.
And the greenback has finally got out of Friday’s range against Euro and Australian Dollar. GBP/USD extended the recovery earlier today already. On the other hand, Sterling is trading as the strongest one for today while Swiss Franc follows. But these two are rather close.
In other markets, FTSE closed up 0.43% at 7591.26, DAX gained 0.99% to 12331.30, CAC rose 0.65% to 5379.65. At the time of writing, DOW is up 0.40% or 100 pts, S&P 500 is up 0.25%. NASDAQ is down -0.06% (that is, nearly flat). It still a bit early to tell. But S&P 500 at 2857 is rather close to 2872.87 record high, which the index may challenge later in the week. 10 year yield extends recent decline and is down -0.04 at 2.833.
Gold is finally having some momentum for extending last week’s rebound from 1160.37 low. And, 1190 is within touching distance. Eyes, will be on 1200. Nonetheless, break of 1211.65 support turned resistance is needed to indicate short term bottoming. Or, outlook will remain bearish, in spite of the current rebound.
