Flights into safety
The USDJPY is lower. Gold is higher. Bond yields are heading lower and the USDCHF is also moving lower as flight to safety flows are dominant.
Reaons?
- Pres. Trump kept a hard line on China in his UN speech
- There are increasing rumblings of impeachment on the back of the Ukraine situation.
- Nasdaq stocks and other indices are getting hit a little harder and harder. The Nasdaq is now down -1.18%. The S&P is down -0.65%.Netflix is negative for the year. Amazon is below it 200 day moving average
Technically, the pair is testing the lows from September 13 at 0.98544. It is also testing a lower trendline near that area. Below that, the 200 bar moving average on the four hour chart comes in at 0.98468. Key area on the downside being tested . A break below increases the beverage tilt for the pair.
