| All the risk balls are in the air now. Yields are lower. Stocks are lower. The US dollars is mostly higher. In the morning Forex technical report, I take a look at the EURUSD, USDJPY, GBPUSD and USDCHF. The USD is moving the most versus the EUR which is plummeting and looking toward the 100 day moving average. The GBPUSD is down but the declines are more contained. The USD is lower vs the JPY as the USDJPY reacts to lower rates. The USDCHF is higher as investors react to the Credit Suisse banking problems which is a catalyst for the moves to the downside in yields and stocks today (or an addition to the other issues started last week as the banking contagion spreads). |
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