Yesterday, the USD was mostly lower after the market reacted to a report that Trump tariffs would be less than expectations. IN Canada, Justin Trudeau announced he would be stepping down, suspending Parliament pending nationwide party election.
The video above outlines the key technicals driving the EURUSD, USDJPY and GBPUSD to start the US trading day.
A snapshot at 7:xx of the levels implied by futures shows:
Dow Industrial Average up 90 pointsS&P up 7.8 pointsNasdaq up 3.5 pointsGerman DAX +0.57%France's CAC +0.73%UK's FTSE 100 -0.17%Spain's Ibex +0.47%Italy's FTSE MIB +0.26%
Late yesterday, at the CES tech conference in Las Vegas, Nvidia CEO Jensen Huang announced that the company's Blackwell AI chips are now in full production, positioning them to fuel future earnings as tech giants increase investments in AI-driven data centers. Huang also introduced the RTX 50 series GPUs, which boast double the performance of their RTX 40 predecessors and leverage AI to enhance graphics processing. Additionally, he revealed Nvidia's Cosmos foundation models, which generate hyper-realistic video to train robots and self-driving cars more cost-effectively than traditional data methods.
In the US debt market, the yields are higher:
2-year 4.276%, +0.7 basis points.5--year 4.434%, +1.4 basis points.10-year 4.640%, +2.4 basis points.30-year 4.867%, +3.0 basis pointsCrude oil is trading up $0.49 or 0.67% at $74.05Gold is trading up $15 or 0.57% at $2650.90Silver is up $0.27 or 0.86% at $30.19Bitcoin is trading at $100,721 down $1589 or -1.52%. The price is near the low for the day at $100,498. The high price reached $102,760 before rotating to the downside
Fundamentally, in Europe today the data was mixed vs expectations with EU CPI both headline and core coming in as expected. CHF CPI remains contained at -0.1% MoM and 0.6% YoY.
UK Halifax HPI m/m (GBP): Actual -0.2%, Forecast 0.8% - LOWERCHF CPI m/m (CHF): Actual -0.1%, Forecast -0.1% - MET. YoY 0.6% French Prelim CPI m/m (EUR): Actual 0.2%, Forecast 0.3% - LOWERConstruction PMI (GBP): Actual 53.3, Forecast 54.3 - LOWEREU Core CPI Flash Estimate y/y (EUR): Actual 2.7%, Forecast 2.7% - METEU CPI Flash Estimate y/y (EUR): Actual 2.4%, Forecast 2.4% - METEU Unemployment Rate (EUR): Actual 6.3%, Forecast 6.3% - METUS International Trade $ (Nov): Foecast -78.0B, Prelim-73.8B US Goods Trade Balance (R) (Nov): Forecast-102.8B, Prelim -98.6BCAD Trade Balance C$ (Nov): Forecast -0.90B, Prelim -0.92B CAD Exports C$ (Nov): Prior 64.22BCAD Imports C$ (Nov): Prior 65.14BUS ISM Non-Mfg PMI (Dec): Forecast 53.3, Prior 52.1ISM Non-Mfg Business Activity (Dec): Prior 53.7ISM Non-Mfg Employment Index (Dec): Prior 53.5ISM Non-Mfg New Orders Index (Dec): Prio 53.7ISM Non-Mfg Price Paid Index (Dec): Prior 58.2JOLTS Job Openings (Nov): Forecast 7.770M, Prior 7.744M Ivey PMI (Dec): Prior 49.7
The kickstart video
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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