Dollar keeps in control to start the new weekWeekly update on interest rate expectationsTraders are only barely seeing one rate cut by the Fed for this year nowStocks accelerate losses in European morning tradeECB's Vujcic: ECB unlikely to accelerate rate cutsECB's Rehn: It makes sense to continue with rate cutsECB's Lane says further monetary policy easing is likelyUS unveils new restrictions on AI chip exportsTrump adviser says to expect call with Putin soon
Markets:
JPY leads, GBP lags on the dayEuropean equities lower; S&P 500 futures down 0.7%US 10-year yields flat at 4.773%Gold down 0.8% to $2,668.50WTI crude up 1.9% to $78.06Bitcoin down 4.2% to $90,574Risk trades are slumping further today as the dollar is jumping higher, continuing the moves after the US jobs report last week. Stocks are being pummeled with European indices down across the board and US futures also slipping lower during the session.
In the major currencies space, the dollar stays more bid in general with the euro and sterling in particular lagging.
Meanwhile, GBP/USD is down 0.7% to test the 1.2100 handle earlier - now seen at 1.2115. The 1.2000 level is the next key technical level eyed by sellers on the way down from here.
In other markets, gold is finally feeling the weight of the stronger dollar as it is down to test its own 100-hour moving average near $2,666 in the past hour. Then, we have Bitcoin which is down over 4% as sellers are threatening a shove back towards $90,000 to start the week.
This article was written by Justin Low at www.forexlive.com. Read More Details
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