Weaker-than-expected factory orders (-0.7% vs -0.5% est, last month’s revision fell to -2.1% from -1.6%) and JOLT job openings at 9.931 million vs. 10.4 million estimates, with U.S. yields decreased. The two-year yield is down 13 basis points to 3.85%. The 2-year yield rose again after he hit a cycle low of 3.555% on March 24th. Friday’s high yield hit 4.172% before turning down.
The Dow Jones Industrial Average is currently down -0.23%, and US stocks are turning down. The NASDAQ Index is down -0.18% and the S&P is down -0.14%.
In the foreign exchange market,
- of EURUSD It surpassed the top side swing area high of 1.09438. The extremum since early February has extended to 1.10317. On the downside, traders will look for his March highs between 1.09255 and 1.09297 (see yellow area in chart below).
EURUSD Moves Above Swing Area
- of US dollar yen It broke below the 200 hour MA at 131.887 and entered the swing area between 131.550 and 131.844. That area becomes an important barometer. A break below the 200 hour moving average and 131.55 will increase the bearish bias.
USDJPY falls below 200-hour moving average
- USDCHF has broken below the March 14th swing low of 0.90938 and is approaching the March 13th swing low of 0.90706. The swing low from early February and the lowest level dating back to August 2021 is 0.90586. Breaking below that level opens the door for further declines. The low since August 2021 has fallen to 0.90178.
USDCHF Moves to Low Swing Area
