Fast break the other way
The USD has taken a hit (and so have stocks) after the weaker than expected retail sales for December shocked the market. The data is delayed as a result of the the government shutdown, so it is old but it shows unexpected weakness. Initial claims also moved higher with the 4-week average at the highest level since January 2018. PPI data was mixed.
For the USDJPY, the pair fell below a trend line at 110.96 and now looks toward the Tuesday high at 110.646 (low so far at 110.70. The 38.2% of the move up from the Feb 6th swing low comes in at 110.524. The 100 hour MA comes in at 110.463. Those are targets on the downside now for the pair.
The EURUSD has just extended above its 100 hour MA at the natural 1.1300 level (more bullish). The pair was trading at 1.12667 just before the release.
The Dow is now down -27 points decline
The S&P is trading down -3 point decline.
The Nasdaq futures imply a -2 point decline
In the US debt market, yields are moving lower.
- 2 year 2.491%, -3.9 basis points
- 10 year 2.651%, -5.0 basis points
- 30 year 2.991%, -3.9 basis points